The Impact of Artificial Intelligence on Financial Accounting Efficiency and the Continued Importance of Human Oversight

Abstract

This paper mainly examines whether artificial intelligence (AI) can really improve the efficiency of financial accounting work, and why accountants are still required to verify its outputs and provide necessary supervision. To address these issues, this study reviews academic papers and reports published by professional institutions. Based on these studies, AI has been shown to perform repetitive tasks that follow fixed procedures. In addition, it can process large volumes of transactions, detect potential errors, and use historical data to forecast future sales or cash flows. Thus, AI reduces the time accountants spend on manual processing, thereby enabling them to allocate more time to analyzing financial information and generating valuable business insights. However, if the data provided by the company is incorrect or incomplete, the results may also be inaccurate. Moreover, financial records may contain private information, such as bank details, employee salaries, and customer data. As a result, AI should assist accountants rather than replace them. In this process, accountants still need to verify AI-generated results, review relevant information, make judgments based on the company's actual situation, and take responsibility for final decisions.