ARTIFICIAL INTELLIGENCE FOR RISK MANAGEMENT AND PROSPECTS FOR THE DEVELOPMENT OF FINANCIAL REPORTING

This preprint is one of two preprints formed on the basis of a completed
research paper on the topic "The impact of corporate reporting standards
and disclosure of data on risks and opportunities for sustainable development on the valuation
of a company."
The object of the study is the impact of the data disclosure procedure determined
by mandatory financial accounting standards on the effectiveness of corporate reporting
for the purpose of evaluating the activities and value of an organization in a sustainable development environment.
The purpose of the study was to analyze the quality and volume of necessary data that must
be disclosed by commercial organizations in corporate reporting in order to
meet the requirements of business analysis and evaluation as an object of strategic and
investment decisions for sustainable development.
Within the framework of the object and purpose, this part of the study examines the role of artificial
intelligence and machine learning in the risk management system, the risks generated
by the use of machine learning methods, and the prospects for reflection in financial
reporting the value of information, namely,
big data transformed by artificial intelligence.
The study was carried out during 2023 on the basis of the Department of Accounting,
Economic Analysis and Audit of the Russian Presidential Academy of National Economy and Public
Administration (RANEPA) in accordance with the state assignment of the RAN-
HiGS for 2023.
The relevance of this part of the study is justified by the prospects of using
machine learning methods in business activities in order to manage a wide range of risks and
for sustainable development.