Exploring the Opportunities and Obstacles of Implementing Artificial Intelligence in Accounting and Auditing

Introduction: Artificial intelligence technologies are being introduced into the economic sector due to the possibilities of automating processes. However, conservative views on using the latest technologies characterise accounting and auditing. This is because there is a risk of errors and confidential data leakage. Nevertheless, artificial intelligence is gradually being introduced into financial accounting and auditing, and today it is indispensable for some processes. Objectives: Our study aimed to determine the level of implementation of artificial intelligence technologies in accounting and auditing based on the survey results and identify the main factors influencing the level of artificial intelligence application in practice. Methods: To achieve this goal, the following methods were used: analysis, synthesis, induction, systematisation, and a survey of 947 respondents, including business people, business consultants, accountants, and auditors. Results: The survey results indicated a high level of use of artificial intelligence among business consultants and auditors, and the types of artificial intelligence were dominated by expert systems, machine learning, and customer support. At the same time, they identified a low level of use of complex systems, such as neural networks, blockchain technologies, and hybrid systems, against the background of low awareness among accountants and business people, accountants' fear of losing their jobs, and entrepreneurs' distrust of data protection and the potential for errors when using artificial intelligence. Conclusions: Thus, it is advisable to train accountants to help them adapt their professional activities to the current requirements of society and to encourage auditors and business consultants to advise entrepreneurs.