Location
Room 232, Schewel Hall
Access Type
Campus Access Only
Start Date
4-17-2024 3:45 PM
End Date
4-17-2024 4:00 PM
College
College of Business
Department
Accountancy
Keywords
AI, Accounting, Auditing, Large Companies, Small Businesses
Abstract
The accounting industry is predominantly composed of people producing financial reports, reconciling bank statements, ensuring that payroll is taken care of properly and promptly, as well as running audits both internally and externally, and administrative tasks. Automating this industry would mean that these tasks could be done without the need for much human intervention, thus reducing the number of accounting positions needed to continue operating. Larger corporations may be able to implement this automation, due to the vast resources that they have, but smaller businesses might have more trouble getting this done, due to the size of their organization. This thesis will explore the possible effects that AI may have on human labor within the accounting industry, whether AI will complement or replace human jobs, and the cost-benefit that implementing AI may have on the auditing industry.
The goal of this thesis is to better understand how implementing automation into the accounting industry, specifically, auditing, will affect both the industry itself, but also large corporations and smaller businesses. The conclusions drawn by the end of this thesis will help members of the auditing community better understand whether or not automation will have significant positive or negative implications for their businesses. These outcomes will have a significant impact on the members of this community and their jobs regardless of if they are helpful or hurtful. Accountants and members of the auditing industry need to be aware of these results and how to effectively utilize change.
Faculty Mentor(s)
Professor Kevin Arrington Dr. Beth Savage Professor Sandy Glass
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The Impact of Automation on Accounting Efficiency
Room 232, Schewel Hall
The accounting industry is predominantly composed of people producing financial reports, reconciling bank statements, ensuring that payroll is taken care of properly and promptly, as well as running audits both internally and externally, and administrative tasks. Automating this industry would mean that these tasks could be done without the need for much human intervention, thus reducing the number of accounting positions needed to continue operating. Larger corporations may be able to implement this automation, due to the vast resources that they have, but smaller businesses might have more trouble getting this done, due to the size of their organization. This thesis will explore the possible effects that AI may have on human labor within the accounting industry, whether AI will complement or replace human jobs, and the cost-benefit that implementing AI may have on the auditing industry.
The goal of this thesis is to better understand how implementing automation into the accounting industry, specifically, auditing, will affect both the industry itself, but also large corporations and smaller businesses. The conclusions drawn by the end of this thesis will help members of the auditing community better understand whether or not automation will have significant positive or negative implications for their businesses. These outcomes will have a significant impact on the members of this community and their jobs regardless of if they are helpful or hurtful. Accountants and members of the auditing industry need to be aware of these results and how to effectively utilize change.