Artificial Intelligence in Accounting

The integration of Artificial Intelligence (AI) in accounting has revolutionized financial practices by enhancing efficiency, accuracy, and security. This thesis explores AI's role in accounting, from automating routine tasks to improving fraud detection, risk assessment, and financial decision-making. The study examines the challenges associated with AI adoption, including security risks, ethical concerns, and data privacy issues. Additionally, the synergy between AI and emerging technologies such as blockchain, Robotic Process Automation (RPA), and big data is analyzed to understand how they reshape financial operations. Despite the transformative benefits, AI adoption presents challenges such as algorithmic bias, lack of transparency, and regulatory complexities. To mitigate these concerns, companies must implement ethical AI frameworks, ensure transparency, and maintain human oversight in AI-driven decisions. The findings highlight that AI-driven accounting systems can significantly reduce fraud risks, enhance financial transparency, and improve decision-making, provided they are implemented responsibly. This research concludes that while AI is reshaping accounting and finance, ethical considerations and regulatory measures must be in place to ensure fair, accurate, and accountable financial practices. The continuous advancement of AI, combined with human expertise, will define the future of the accounting profession.