ВЈЕШТАЧКА ИНТЕЛИГЕНЦИЈА И БУДУЋНОСТ РАЧУНОВОДСТВЕНЕ ПРОФЕСИЈЕ: ИМПЛИКАЦИЈЕ И ИЗАЗОВИ
ARTIFICIAL INTELLIGENCE AND THE FUTURE OF THE ACCOUNTING PROFESSION: IMPLICATIONS AND CHALLENGES

Author(s): Siniša Rajković
Subject(s): Business Economy / Management, Financial Markets, Accounting - Business Administration, ICT Information and Communications Technologies
Published by: Savez računovođa i revizora Republike Srpske
Keywords: artificial intelligence (AI); automation; digitization; productivity; accounting profession; data analysis;
Summary/Abstract: The paper examines the impact of artificial intelligence (AI) on traditional accounting practices, looking at the role of AI in the transformation and reshaping of financial reporting and decision-making processes. The goal is to critically assess how the integration of AI is redefining the scope of accounting, highlighting both the opportunities and challenges that AI brings. Using a systematic literature review, and analyzing peer-reviewed articles and case studies will provide a comprehensive understanding of the integration of AI into accounting, and its performance and usefulness in terms of increasing the accuracy and efficiency of financial reporting and strategic implications for accounting professionals and the profession. The findings reveal that AI significantly improves the accuracy and efficiency of financial reporting, automating routine tasks and enabling predictive analytics for strategic decision-making. However, challenges such as the need for skilled AI-skilled personnel, data privacy concerns, and the high cost of AI integration are evident. The findings also highlight resistance to change as a significant barrier to the adoption of AI in accounting practices. The bottom line is that while AI is challenging, its potential to revolutionize and transform accounting practices is undeniable, offering new avenues for growth and innovation in the digital era.

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