The impact of artificial intelligence on audit profession

Abstract

There is an expectation that the introduction of artificial intelligence (AI) will bring about profound changes in the current paradigm of the audit profession, ensuring better reliability and security in the analysis of financial statements. This paper reports the results of a questionnaire survey to ascertain the perceptions of certified auditors, from two Portuguese districts, regarding the impact of artificial intelligence on the audit profession. Findings reveal that the respondents believe that the profession's future depends on the implementation of AI, namely in the efficiency and effectiveness of audit procedures, sampling techniques, cost-benefit relationship and recognizing material distortions.