Artificial Intelligence (AI) is reshaping how businesses, governments, organizations and individuals operate. Most businesses are now moving away from traditional systems of operation into employing and leveraging on technologies like AI to deliver superior goods and services to their clients. Today, there are calls for a shift from the traditional auditing techniques of sampling to the use of advanced technology with the capability to analyze all the operating activities of a business to improve audit quality. There is no better time for auditing to merge with AI than now as it is increasingly becoming too challenging for human auditors to analyze huge volumes of structured and unstructured data in various locations to gain the relevant financial and non-financial information that they may need to form their opinions. The purpose of this research was to examine the impact of AI on auditors’ skills and competencies, audit process and audit quality. The researchers used the qualitative research methodology and reviewed literature to identify gaps in the literature. Participants (practicing auditors) were interviewed to gather data for analysis. The findings from the empirical data concludes that AI has had a significant impact on auditors’ skills and competencies, with many respondents affirming that the core skills now needed by auditors is IT skills. Audit process and audit quality have also been positively affected by AI.
| Identifer | oai:union.ndltd.org:UPSALLA1/oai:DiVA.org:umu-197153 |
| Date | January 2022 |
| Creators | Yebi, David Klutse, Cudjoe, Edwin Kenneth |
| Publisher | Umeå universitet, Företagsekonomi, Umea University |
| Source Sets | DiVA Archive at Upsalla University |
| Language | English |
| Detected Language | English |
| Type | Student thesis, info:eu-repo/semantics/bachelorThesis, text |
| Format | application/pdf |
| Rights | info:eu-repo/semantics/openAccess |
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