The Impact and Assistance of Artificial Intelligence in the Accounting
Profession: Current Status, Future Prospects and Ethical
Considerations
Jiale Chang
Durham University, Durham, DH1 3LE, U.K.
Keywords: Artificial Intelligence, Ethical Considerations, Accounting Profession.
Abstract: In the context of global digitisation, artificial intelligence is reshaping all industries, including accounting.
As the foundation of business decision-making, accounting involves key processes such as financial
accounting, budgeting and auditing. In the face of increasingly complex business, regulatory changes and
market competition, traditional accounting models exhibit limitations such as low efficiency, high error
rates and lack of real-time support. Artificial intelligence provides new tools - machine learning, deep
learning, natural language processing, and robotic process automation (RPA) - to improve data processing
and analyses, enabling accounting to evolve from reactive reporting to proactive risk prediction and decision
support. This paper focuses on the current status, advantages, prospects, challenges and ethical issues of
artificial intelligence applications in accounting. Through a systematic discussion, this essay aims to present
a complete picture to practitioners, managers, and researchers - highlighting both the great opportunities for
efficiency and decision-making, as well as the risks in terms of privacy, ethics, and liability. It is hoped that
this essay will provide insights for future research and practice, and that with concerted efforts, the
accounting profession can achieve sustained, healthy growth and innovation with the help of artificial
intelligence.
1 INTRODUCTION
Accounting is one of the indispensable core
elements of business activities and is responsible for
the recognition, measurement, recording and
reporting of economic information of enterprises.
However, with the increasing complexity,
globalisation and digitisation of the contemporary
business environment, the traditional accounting
model and processing methods are facing more and
more challenges. In this background, the rise of
artificial intelligence technology provides new ideas
and tools for the accounting field, enabling it to
process business and financial data in a more timely
and accurate manner and provide strong support for
decision-making.
Since 2020, governments and enterprises have
been actively promoting the research and application
of artificial intelligence technology. For the
accounting industry, the value of artificial
intelligence technology is not only reflected in the
automated processing of repetitive and regular
financial processes, but also in the functions of
predictive analysis, fraud detection and risk control
based on big data and machine learning. Through the
synergy between people and artificial intelligence,
the efficiency of the finance department has been
significantly improved; on the other hand, it has also
put forward new requirements on the traditional
organisational structure, talent training, data
compliance and industry ecology (Mohammad et al.,
2020). It is in such an age of high convergence
between technology and management that exploring
the impact and ancillary value of artificial
intelligence on the accounting industry is of both
practical and long-term value.
This essay, entitled ‘The Influence and
Assistance of Artificial Intelligence in the
Accounting Industry: Current Status, Future
Prospects and Ethical Considerations’, aims to
provide a more in-depth explanation of the current
status of the application of artificial intelligence in
the accounting industry, its technological
advantages, developmental potentials, challenges
Chang, J.
The Impact and Assistance of Artificial Intelligence in the Accounting Profession: Current Status, Future Prospects and Ethical Considerations.
DOI: 10.5220/0013840800004719
Paper published under CC license (CC BY-NC-ND 4.0)
In Proceedings of the 2nd International Conference on E-commerce and Modern Logistics (ICEML 2025), pages 175-180
ISBN: 978-989-758-775-7
Proceedings Copyright © 2025 by SCITEPRESS – Science and Technology Publications, Lda.
175

and corresponding ethical considerations, through
systematic research and case studies. The structure
of the article is as follows: firstly, it will introduce
the current situation and application scenarios of
artificial intelligence in the accounting industry; then
it will summarize the benefits of artificial
intelligence for accounting; secondly, it will discuss
the future prospects of artificial intelligence; then it
will focus on analyzing the challenges faced by
artificial intelligence in the process of promoting
artificial intelligence; and lastly, it will explore the
ethical considerations of the combination of artificial
intelligence and accounting with a view to providing
reference thoughts and directions for the industry
and the practitioners.，and direction for the industry
and practitioners.
2 THE CURRENT STATE OF AI
IN ACCOUNTING
Artificial intelligence now covers a very wide range
of areas which also includes industries such as
accounting and auditing. Artificial Intelligence is
generally used in business accounting to automate
accounting tasks and analyse data thereby planning
the finances of the business accordingly. The most
common areas that artificial intelligence is designed
to be used in accounting include, but are not limited
to, the following three areas.
With fixed processes and regulations, RPA
combined with the financial rules engine can achieve
automated billing and tax reporting, improving
compliance and accuracy. It also automatically
generates financial reports or variance analysis
reports through correlation analysis of multiple
financial statements, ensuring logical consistency of
data and reducing repetitive human efforts. The
application of RPA technology can help the
accounting department to free itself from tedious and
repetitive operations and devote more energy to
higher value-added business analysis and decision-
making (Ruiz-Real et al., 2021). However, the
promotion of RPA is still constrained by cost,
system compatibility, and personnel training, which
makes it difficult for many small and medium-sized
enterprises to widely apply RPA in the short term.
In addition to automated processes, another
major application of artificial intelligence in the
accounting industry is intelligent auditing and data
analyses, using models such as machine learning,
data extraction and predictive analyses to provide
deeper insights for auditors and financial managers.
Intelligient audit uses full data scanning and
algorithmic analysis to provide rapid early warning
of potential fraud or risk, whereas traditional
auditing often relies on sampling to detect
compliance with a company's financial data (Zhang,
2020). Through the comprehensive analysis of the
enterprises' historical data and external
environmental data (such as industry indicators,
macroeconomic data), to build forecasting models,
assisting the management to make more scientific
estimates of revenue, cost, cash flow. Through the
comprehensive analysis of the enterprises' historical
data and external environmental data (such as
industry indicators, macroeconomic data), to build
forecasting models, assisting the management to
make more scientific estimates of revenue, cost, cash
flow.
Globally, digital transformation in accounting
and auditing is accelerating. The international Four
accounting firms (e.g., PricewaterhouseCoopers,
Deloitte, Ernst & Young, and KPMG) have
introduced artificial intelligence technologies in their
auditing and consulting practices, such as using
machine learning algorithms to analyse client
transactions in a real-time manner and identify
anomalies, so as to improve the quality and
efficiency of their audits (Schweitzer, 2024). In the
Chinese market, with the focus on the digital
economy in the 14th Five-Year Plan and the
continued reform of the fiscal and taxation system,
more and more startups and software vendors are
entering into smart finance, accounting robots, and
other segments of the market. Overall, the
permeation of artificial intelligence in the
accounting industry is still at an early stage, but
from the perspective of both policy support and
market demand, there is huge room for growth in the
future.
3 BENEFITS OF ARTIFICIAL
INTELLIGENCE FOR THE
ACCOUNTING INDUSTY
With artificial intelligence evolving in the
accounting industry, its application in the accounting
industry has greatly optimized cost and time
management. While traditional financial work often
involves a large number of repetitive tasks such as
data entry, report preparation and account
reconciliation, artificial intelligence significantly
reduces labour costs and cuts down on human error
by automating these processes. At the same time,
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artificial intelligence systems are able to analyse and
process large amounts of financial data in a short
period of time, enabling companies to complete
financial reports and audits faster and improve
overall operational efficiency. In addition, AI's
ability to analyse real-time data enables enterprises
to respond quickly to market changes, optimize
resource allocation and enhance the accuracy of
financial management. These advantages not only
enhance the competitiveness of enterprises, but also
promote the development of the finance industry
towards intelligence and efficiency. There are a
large number of repetitive and rule-based tasks in
the accounting process, such as data entry,
reconciliation, classification, etc., which are prone to
errors and take up a lot of accountants' time.
Automating these tasks with artificial intelligence
technology can significantly reduce human error and
increase processing speed. Especially in large
enterprises or high transaction volume scenarios, the
introduction of RPA and intelligent algorithms can
reduce the number of manual interventions, thus
realizing real-time and high accuracy in financial
accounting (Cheng, 2020).
With the increasing size and complexity of
financial data, it is difficult for manual audits to
fully identify and locate potential irregularities and
fraud. Through machine learning modelling of
financial large data, abnormal transactions and risk
patterns can be detected earlier, providing more
targeted and comprehensive risk warnings to
regulators, internal audits and external audits (Li et
al., 2020). This not only improves internal control,
but also promotes the formation of a culture of
compliance and integrity.
With the help of deep learning and time series
analysis models, artificial intelligence can provide
more accurate forecasts of sales revenue, cash flow,
inventory turnover, and so on. Management can then
use the data insights to develop more scientific
budgeting and resource allocation strategies. For
example, by identifying cyclical and seasonal
changes in historical data, artificial intelligence can
assist enterprises in planning and arranging more
effectively at the production and purchasing stages,
so that they can reduce costs and increase efficiency
in the highly competitive market (Rohmah et al.,
2022).
From a longer-term viewpoint, artificial
intelligence's impact on the accounting industry is
deep and systematic. It not only promotes the
transformation of enterprise finance departments,
but also opens up new business forms for
professional service organizations such as
accounting firms. For example, artificial intelligence
technology combined with audit cloud platforms can
conduct in-depth audits and analyses of clients'
multi-source data, leading to the iterative upgrading
of traditional audit methodologies and service
models (Adeyelu et al., 2024). This can lead to
overall industry quality and is attracting more and
more talent and capital into the accounting
technology field, creating a positive loop.
4 THE FUTURE OF ARTIFICIAL
INTELLIGENCE IN
ACCOUNTING
In the future, the artificial intelligence application in
the accounting industry is bound to be deeply
integrated with large data technology and cloud
computing platform. On the one hand, cloud
computing can provide large-scale elastic computing
and data storage resources, allowing the accounting
business to maintain efficient operations when
dealing with complex multi-source data; on the other
hand, large data technology provides a rich data base
for the training and real-time analysis of artificial
intelligence models, further improving key functions
such as risk monitoring and budget forecasting
(Hasan, 2022).
For RBA, Although RPA has been applied in
many enterprises, current robots still rely on
predefined scripts and rules and lack self-learning
capabilities. With the further development of
machine learning algorithms and natural language
processing technology, the new generation of
financial robots will have a higher level of adaptive
capabilities and ‘human-like’ interaction. For
example, when financial rules or business situations
change, the robots will be able to update process
logic autonomously through interaction with
accountants, reducing reliance on human
configuration.
In the future, auditors and regulators will also
need artificial intelligence when dealing with more
complex and cross-border economic activities. By
connecting artificial intelligence with their own risk
control systems, firms will be more efficient and
adaptable in their information and data disclosure
with regulators (Losbichler & Lehner, 2021). As
regulations and laws improve, the accounting
industry will become more open and transparent.
When the application of artificial intelligence in
the accounting industry becomes more established,
more personalized and customized financial
The Impact and Assistance of Artificial Intelligence in the Accounting Profession: Current Status, Future Prospects and Ethical
Considerations
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consulting and management services will become
possible. The financial needs of small and medium-
sized enterprises (SMEs) as well as emerging
businesses are often marked by significant industry
differences. By learning from a large number of
industry cases and practices through the AI model,
the artificial intelligence model is able to
automatically produce relatively customized
financial solutions, including automated auditing
processes, intelligent tax optimization suggestions,
refined cost control strategies, etc., providing more
professional support for SMEs.
The deeper use of artificial intelligence will
drive the accounting industry to make new demands
on the talent structure. For finance practitioners, in
addition to mastering traditional accounting and
auditing knowledge, they must also have a basic
understanding of data analysis, information systems,
and the principles of AI models; for accounting
firms, they need to establish internal
interdisciplinary teams, including IT engineers and
finance experts, to promote the implementation and
continuous iteration of AI projects (Zhang, 2020).
This also means that universities and training
institutions need to adjust the course system of
accounting majors as soon as possible, incorporate
programming thinking, machine learning and data
analysis into the teaching syllabus, and cultivate
composite talents with both accounting and
technology backgrounds.
5 CHALLENGES OF
ARTIFICIAL INTELLIGENCE
IN ACCOUNTING
APPLICATIONS
Although artificial intelligence has made great
progress in the past few years, its application in the
accounting field still faces some challenges. Deep
learning models need to be trained on massive
amounts of high-quality data to perform well, while
corporate financial data often involves privacy and
compliance requirements, making data acquisition
costly. At the same time, SMEs' financial systems
often lack sufficient digitalisation and
standardization foundations, resulting in higher
technical thresholds and implementation costs for AI
solutions (Li et al., 2020).
For AI to be of real value in accounting roles,
businesses often need to make adjustments to their
business processes, organizational structure and
division of staff accordingly. However, many
enterprises lack systematic coordination between
internal departments when carrying out digital
transformation, and employees may also be resistant
for fear of being replaced by technology. At the
same time, there is a scarcity of talent in the market
that understands both finance specialisms and is
familiar with artificial intelligence, which needs to
be supplemented through school-enterprise
cooperation, internal training or external recruitment
(Zhang, 2020).
With the large-scale application of artificial
intelligence, the traditional accounting service
ecosystem is also facing redefinition. Accounting
agencies that provide basic bookkeeping and tax
filing may gradually be replaced by more efficient
intelligent systems; accounting firms that still use
manual labour to complete audits will also find it
difficult to compete with more digitized and
automated organizations. Demands from within and
outside the profession for accounting education,
professional qualification systems, and related laws
and regulations are also heating up, eventually
leading to fundamental changes in the mode of
operation and practice of the accounting profession.
6 ETHICAL CONSIDERATIONS
OF ARTIFICIAL
INTELLIGENCE IN
ACCOUNTING
Accounting data involves core business information
of enterprises as well as personal information of
employees and customers. Artificial intelligence
applications often require centralized or distributed
analysis and exploration of large-scale data if
artificial intelligence applications are to achieve the
best results, but this also brings the potential risk of
information leakage and misuse. When artificial
intelligence systems are interfaced with external
cloud platforms or third-party data sources, it is
necessary to ensure that the data meets privacy
protection and security requirements throughout the
entire process of collection, transmission, storage,
and use (Zhang, 2020). Based on this, it is crucial to
establish a comprehensive data authorization and
access control system.
Accountants have a duty of professional ethics
and independent auditing, and are required to be
prudent and objective. However, if key aspects of
accounting work are controlled by artificial
intelligence systems, this may undermine the
practitioner's control over the ‘truthfulness’ behind
the financial figures. Professional scepticism and
prudence may be undermined if accountants over-
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rely on machine AI and neglect to make substantive
investigations and independent judgements on
unusual data (Zhang, 2020). Therefore, it is
important to set up an effective process and review
system so that accountants can maintain their
professional independence and judgement with the
aid of technology.
How should responsibility be apportioned when
artificial intelligence systems make errors in
decision-making or produce misleading financial
conclusions? Should the algorithm provider bear the
primary responsibility, or should the head of
corporate finance bear the ultimate responsibility?
With the current laws and regulations not yet perfect,
the industry must take into account software licenses,
data use agreements, and internal control processes
to clarify the responsibility of artificial intelligence
in accounting (Zhang, 2020). For financial decisions
in high-risk areas, manual review and decision-
making processes must be retained to ensure that
accountability can be quickly defined and pursued in
the event of a problem. Accountability is a multi-
participation process that requires comprehensive
consideration of various factors.
While artificial intelligence improves the
efficiency and accuracy of accounting work, it is
also challenged as to whether it will cause large-
scale job losses. Some basic accounting jobs may
disappear as a result of increased automation, and
society needs to make appropriate employment and
education policy adjustments to help practitioners
transition smoothly. Only by ensuring that
practitioners and society adapt to and share
technological innovations can artificial intelligence
achieve sustainable penetration and development in
the accounting field (Schweitzer, 2024).
7 CONCLUSION
Artificial Intelligence is rapidly developing and
being utilized in the accounting industry, from
automation of financial processes to intelligent
auditing, from predictive analyzes to compliance
management, bringing unprecedented changes and
opportunities to the accounting industry. With the
help of artificial intelligence, the accounting
department can not only significantly improve data
processing efficiency and accuracy, but also
gradually develop from a traditional accounting
centre to a strategic department that provides high-
level analysis and decision-making support, thus
creating greater value in the enterprise and even in
the market. However, while enjoying the benefits of
technology, it is also important to pay attention to
the challenges it brings, including organizational
change, talent development, data privacy and
professional ethics.
From the current situation, the depth and width
of the application of artificial intelligence in the
accounting industry is still expanding, and the deep
integration of technology and management may lead
to a new round of industry upgrading. In order to
achieve this goal, all parties should work together:
on one hand, the government and regulators should
improve the relevant legislation and ethical
guidelines, so as to provide a legally compliant and
suitable test environment for the implementation of
the new technology; on the other hand, accounting
firms and enterprises need to actively carry out
digital transformation and talent reserves, so as to
ensure that the AI project can be implemented
smoothly and achieve practical results. For
individual accounting practitioners, they should
continue to learn cutting-edge technologies and data
analysis skills, while upholding professional ethics
and independence, so as to find a higher-value career
position in the emerging technology paradigm. With
the efforts of many parties, the in-depth integration
of AI and accounting can walk more steadily and
farther, and make greater contributions to the
development of the economy and society.
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