| Abstract [eng] |
Since the start of the Fourth industrial revolution, different types of digital technologies entered the business market and are perpetually changing its processes. Artificial Intelligence is considered one of the main digital technologies yet developed and due to its complexity, it is usually used with implementation of other digital technologies. Audit companies are not only starting to use digital technologies in everyday tasks but also investing in developing new prototypes, especially those using Artificial Intelligence. There are two main opinions regarding the usage of such t using such technologies between auditors: some are eager to learn new things and are looking forward to exploring innovations; others are afraid that such technologies can replace humans and eventually many of them will lose jobs. Research object: Artificial Intelligence in the context of financial statements audit. Aim of Research: To explore how Artificial Intelligence will impact the work of auditors. The research strategy is qualitative. Ten experienced auditors from the top 4 audit companies in Lithuania participated in semi-structured interviews. Transcripts were analyzed using MAXQDA 2022 where all information was divided into groups and subgroups based on the selected topics (usage in audit, benefits, drawbacks, solutions to the problems, compliance with the laws and standards, reasons why Artificial Intelligence will not replace auditor and future skills for auditors). Qualitative study results showed that Artificial Intelligence is already being used in the audit to some extent and all interviewed people know at least basic knowledge about AI and its capabilities and are aware of how it can be used in audit and what possible impact it can have. During the interviews, it was identified that AI can be used in all stages of audit – from planning to the conclusion: processing of initial information, risk assessment, document reading, relationship analysis, repetitive work, identification of unusual transactions, decision making, subsequent events analysis, work done documentation. The main benefits of using AI in audit processes would be efficiency, reduction of technical work, better quality of audits, independence assurance, and increased attractiveness of the profession. The main drawbacks are differences between audit forms, wrong information, uniqueness of audit, confidentiality, responsibility, compliance with laws and standards, excessive reliance, Information Technology (IT) limitations, and learning to use new tools. All respondents believe that AI will not replace auditors in the future however auditors will need to learn new skills such as basic IT knowledge, fast adaptation to changing processes and tools, and critical/analytical thinking in order to be competitive. Overall, the results of these interviews showed that Artificial Intelligence implementation into audit processes is inevitable it will change how audits are performed but will not change auditors’ profession, however, audit companies need to thoroughly test applications in order to address all drawbacks and maximize all benefits to gain the best results. |
