The Future of Accounting: How AI is Reshaping the Role of Accountants in Financial Reporting

Abstract

With rapid advancements in technology, artificial intelligence (AI) has emerged as a key driver of change in accounting and financial reporting. This technology, through automation of financial processes and reduction of human errors, has fundamentally transformed the roles of accountants and the way financial activities are conducted. The aim of this article is to examine the impact of AI on the evolving roles of accountants and financial reporting processes. This descriptive review study analyzes past research to explore the effects of AI on accounting and the associated challenges and opportunities. Data for this study were collected and analyzed from reputable scientific databases. The findings indicate that AI, by reducing repetitive tasks, has enabled accountants to focus on advanced analytics and strategic financial advisory roles. While ethical and legal challenges remain, AI presents emerging opportunities for improving financial processes and elevating accountants' roles. The adoption of AI in accounting has led to fundamental changes in the profession, requiring accountants to adapt by acquiring new skills. Organizations must also invest in the necessary infrastructure to implement this technology and prioritize continuous staff training. Future research should focus on addressing the legal and ethical challenges related to AI in accounting.