Published May 16, 2025 | Version v1
Journal article Open

Automated Auditing: A Paradigm Shift in Financial Assurance

Authors/Creators

  • 1. Graduate of the University of Sunderland with a Bachelor's degree in Accounting and Finance

Description

This study examines the transformative impact of artificial intelligence (AI) and automation technologies on auditing practices. Through a systematic review of industry implementations and academic literature, we analyze how automated auditing enhances efficiency, accuracy, and risk detection while introducing new challenges related to data governance and ethical AI use. The findings demonstrate that automated auditing enables 100% population testing, reduces manual effort by 30-50%, and facilitates real-time compliance monitoring. However, successful implementation requires addressing data quality, model bias, and auditor upskilling

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Additional details

References

  • 1. ACCA. (2023). AI in Auditing: Global Implementation Trends. London: Association of Chartered Certified Accountants.
  • 2. Cao, M., et al. (2022). "Neural Networks for Fraud Detection". Journal of Accounting Research, 60(4), 1457-1490.
  • 3. Deloitte. (2024). 2024 Global Audit Technology Survey. New York: Deloitte Touche Tohmatsu.
  • 4. EY. (2022). How AI is Reshaping Audit. Ernst & Young Global Report.
  • 5. KPMG. (2023). Automated Auditing in Practice. Amsterdam: KPMG International.