Artificial Intelligence in Accounting and Auditing Profession

The aim of this study is to explore the relationship and impact of the new innovation of “Artificial Intelligence” on the “accounting” as well as on the “auditing” professions including the impact on future loss of jobs within the accounting and auditing industry. In order to fulfil the aim and objectives of the study, the research paper is divided into three primary chapters starting with introduction containing the problem statement, research aim and objectives, research questions and hypotheses. The chapter two portrayed the literature review thereby setting the theme for the last chapter of conclusion and recommendations for future study. The study was conducted through a thorough review and analysis of the past literature base concerning the primary area of research that is the impact of AI on the accounting and auditing profession. Finally, it was concluded by the research study that the AI and its implementation have a positive impact on the accounting as well as auditing profession thereby facilitating a better professional decision making. It was also concluded that the AI and its implementation do not have any material impact on the future loss of jobs within the accounting and the auditing industry.