The Impact of Artificial Intelligence Adoption on Financial Audit Efficiency and Accuracy Outcomes

Posted: Jan 21, 2022

• James Martinez
• James Taylor
• John Adams

Abstract

The integration of artificial intelligence into financial auditing represents one of the most significant technological transformations in the accounting profession's history. While previous research has examined individual AI applications in auditing contexts, there remains a substantial gap in understanding how comprehensive AI ecosystems affect both efficiency and accuracy outcomes simultaneously. This research addresses this gap by developing a novel evaluation framework that captures the multidimensional impact of AI adoption across various audit domains. Financial auditing has traditionally relied on sampling methodologies and manual verification processes that, while established through professional standards, inherently contain limitations in coverage and detection capabilities. The emergence of sophisticated AI technologies, including machine learning algorithms, natural language processing, and anomaly detection systems, presents unprecedented opportunities to transcend these limitations.