Research Article
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Digital Transformation in Accounting and Auditing: Insights from The ChatGPT Example

Year 2023, Issue: 10, 11 - 22, 30.12.2023

Yusuf Kurt

https://doi.org/10.58618/igdiriibf.1296543

Abstract

This research delves into the evolving role of the accounting and auditing professions in the digital age, with a focus on the implications of ChatGPT, a sophisticated artificial intelligence tool developed by OpenAI. The study employs a novel approach by engaging ChatGPT to predict the future of these professions, further probing with targeted inquiries to deepen the understanding. The analysis reveals that despite the rapid digital transformation and integration of AI in accounting processes, the core accounting profession is likely to persist. However, it underscores a significant shift in skill requirements, emphasizing the importance for accountants to enhance their expertise in data analysis, cyber security, and technological adaptability. The study also explores AI's potential applications in auditing, suggesting that AI can augment efficiency, accuracy, and risk assessment, while also highlighting the irreplaceable value of human judgment in complex scenarios. Interestingly, the insights generated through interactions with ChatGPT show a strong alignment with existing literature, indicating the tool's utility and reliability in professional contexts. The findings suggest that embracing technological advancements and continuous learning are imperative for accountants to remain relevant and competitive in this rapidly evolving digital landscape.

Keywords

ChatGPT accounting auditing digital transformation AI in professional services

References

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  • Beerbaum, D. O. (2023). Generative artificial intelligence (gaı) with ChatGPT for accounting–a business case. Special Issue on Generative Artificial Intelligence (GAI) and Accounting. https://ssrn.com/abstract=4385651 ChatGPT. (2023). ChatGPT Website. https://chat.openai.com/chat
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  • Harris, R. (2022). ChatGPt Gains 1 Million Users Within 5 Days Harris, R. 2022. Chatgpt Gains 1 Million Users Within 5 Days. Https://Appdevelopermagazine.Com/Chatgpt-Gains-1-Million-Users-Within-5-Days/
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  • Küçüker, M. (2023). Muhasebede yapay zekâ uygulamaları: ChatGPT’nin muhasebe sınavı. Fırat Üniversitesi Sosyal Bilimler Dergisi, 33(2), 875-888.
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  • Omoteso, K. (2012). The application of artificial intelligence in auditing: Looking back to the future. Expert Systems With Applications, 39(9), 8490-8495.
  • Serçemeli, M. (2018). Muhasebe ve denetim mesleklerinin dijital dönüşümünde yapay zekâ. Electronic Turkish Studies, 13(30), 369-386
  • Street, D. & Wilck, J. (2023). 'Let’s have a chat': Principles for the effective application of chatgpt and large language models in the practice of forensic accounting. SSRN. Https://Papers.Ssrn.Com/Sol3/Papers.Cfm?Abstract_İd=4351817
  • Susnjak, T. (2022). ChatGPT: The end of online exam integrity? Arxiv. Https://Arxiv.Org/Abs/2212.09292
  • Şentürk, Ö. (2023). İç denetim faaliyetlerinde yapay zekadan beklentiler: ChatGPT uygulaması örneği. TIDE Academia Research, 4(2), 51-82.
  • Wood, D. A., Achhpilia, M. P., Adams, M. T., Aghazadeh, S., Akinyele, K., Akpan, M., ... & Kuruppu, C. (2023). The ChatGPT artificial intelligence chatbot: How well does it answer accounting assessment questions?. Issues in Accounting Education, 38(4), 81-108.
  • Yılmaz Soğuksu, Ü. Z. (2020). Muhasebe denetiminde dijital dönüşüm: Denetim yazılımları. Muhasebe ve Vergi Uygulamaları Dergisi, 13(2), 281-308
  • Yücel, G. & Adiloğlu, B. (2019). Dijitalleşme-yapay zekâ ve muhasebe beklentiler. Muhasebe ve Finans Tarihi Araştırmaları Dergisi, 17, 47-60.
  • Zemankova, A. (2019). Artificial intelligence in audit and accounting: Development, current trends, opportunities and threats-literature review. International Conference On Control, Artificial Intelligence, Robotics & Optimization (ICCAIRO), 148-154.

Year 2023, Issue: 10, 11 - 22, 30.12.2023

Yusuf Kurt

https://doi.org/10.58618/igdiriibf.1296543

Abstract

References

  • Akyüz, F. & Gülten, S. (2023). Muhasebede dijital dönüşüm: Metaverse. Muhasebe ve Denetime Bakış, 22(68), 91-108.
  • Baldwin, A. A., Brown, C. E. & Trinkle, B. S. (2006). Opportunities for artificial intelligence development in the accounting domain: The case for auditing. Intelligent Systems In Accounting, Finance & Management, 14(3), 77-86.
  • Beerbaum, D. O. (2023). Generative artificial intelligence (gaı) with ChatGPT for accounting–a business case. Special Issue on Generative Artificial Intelligence (GAI) and Accounting. https://ssrn.com/abstract=4385651 ChatGPT. (2023). ChatGPT Website. https://chat.openai.com/chat
  • Emetaram, E. & Uchime, H. N. (2021). Impact of artificial intelligence (aı) on accountancy profession. Journal Of Accounting And Financial Management E-Issn, 7(2).15-26
  • Farhan, K. A. & Kawther, B. I. (2023). Accounting audit profession in digital transformation environment between theoretical framework and practical reality. World Economics And Finance Bulletin, 22, 120-133.
  • Gacar, A. (2019). Yapay zekâ ve yapay zekânın muhasebe mesleğine olan etkileri: Türkiye’ye yönelik fırsat ve tehditler. Balkan Sosyal Bilimler Dergisi, 8, 389-394.
  • Gönen, S. & Rasgen, M. (2019). Endüstri 4.0 ve muhasebenin dijital dönüşümü. Manas Sosyal Araştırmalar Dergisi, 8(3), 2898-2917.
  • Hacker, B. (2023). Will ChatGPT revolutionize accounting? The benefits of artificial intelligence (aı) in accounting.
  • Harris, R. (2022). ChatGPt Gains 1 Million Users Within 5 Days Harris, R. 2022. Chatgpt Gains 1 Million Users Within 5 Days. Https://Appdevelopermagazine.Com/Chatgpt-Gains-1-Million-Users-Within-5-Days/
  • Hasan, A. R. (2021). Artificial ıntelligence (aı) in accounting & auditing: A literature review. Open Journal of Business and Management, 10(1), 440-465.
  • Hu, K. 2023. ChatGPT sets record for fastest-growing user base-analyst note. Reuters. Https://Www.Reuters.Com/Technology/Chatgpt-Setsrecord-Fastest-Growing-User-Base-Analyst-Note-2023-02-01/
  • Kokina, J. & Davenport, T. H. (2017). The emergence of artificial intelligence: How automation is changing auditing. Journal Of Emerging Technologies in Accounting, 14(1), 115-122.
  • Küçüker, M. (2023). Muhasebede yapay zekâ uygulamaları: ChatGPT’nin muhasebe sınavı. Fırat Üniversitesi Sosyal Bilimler Dergisi, 33(2), 875-888.
  • Lanier, J. (2023). There ıs no a.ı. The New Yorker. https://www.newyorker.com/science/annals-of-artificial-intelligence/there-is-no-ai
  • Mcgee, R. W. (2023). Will chatgpt destroy the accounting profession? Chatgpt replies (April 27, 2023). Https://Papers.Ssrn.Com/Sol3/Papers.Cfm?Abstract_İd=4431100
  • Omoteso, K. (2012). The application of artificial intelligence in auditing: Looking back to the future. Expert Systems With Applications, 39(9), 8490-8495.
  • Serçemeli, M. (2018). Muhasebe ve denetim mesleklerinin dijital dönüşümünde yapay zekâ. Electronic Turkish Studies, 13(30), 369-386
  • Street, D. & Wilck, J. (2023). 'Let’s have a chat': Principles for the effective application of chatgpt and large language models in the practice of forensic accounting. SSRN. Https://Papers.Ssrn.Com/Sol3/Papers.Cfm?Abstract_İd=4351817
  • Susnjak, T. (2022). ChatGPT: The end of online exam integrity? Arxiv. Https://Arxiv.Org/Abs/2212.09292
  • Şentürk, Ö. (2023). İç denetim faaliyetlerinde yapay zekadan beklentiler: ChatGPT uygulaması örneği. TIDE Academia Research, 4(2), 51-82.
  • Wood, D. A., Achhpilia, M. P., Adams, M. T., Aghazadeh, S., Akinyele, K., Akpan, M., ... & Kuruppu, C. (2023). The ChatGPT artificial intelligence chatbot: How well does it answer accounting assessment questions?. Issues in Accounting Education, 38(4), 81-108.
  • Yılmaz Soğuksu, Ü. Z. (2020). Muhasebe denetiminde dijital dönüşüm: Denetim yazılımları. Muhasebe ve Vergi Uygulamaları Dergisi, 13(2), 281-308
  • Yücel, G. & Adiloğlu, B. (2019). Dijitalleşme-yapay zekâ ve muhasebe beklentiler. Muhasebe ve Finans Tarihi Araştırmaları Dergisi, 17, 47-60.
  • Zemankova, A. (2019). Artificial intelligence in audit and accounting: Development, current trends, opportunities and threats-literature review. International Conference On Control, Artificial Intelligence, Robotics & Optimization (ICCAIRO), 148-154.
There are 24 citations in total.

Details

Primary Language English
Subjects Business Administration
Journal Section Research Articles
Authors

Yusuf Kurt 0000-0002-1071-4205

Early Pub Date December 28, 2023
Publication Date December 30, 2023
Submission Date May 12, 2023
Published in Issue Year 2023 Issue: 10

Cite

APA Kurt, Y. (2023). Digital Transformation in Accounting and Auditing: Insights from The ChatGPT Example. Igdir University Journal of Faculty of Economics and Administrative Sciences(10), 11-22. https://doi.org/10.58618/igdiriibf.1296543
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Title of the Journal in Turkish: Iğdır Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi

Title of the Journal in English: Iğdır University Journal of Economics and Administrative Sciences

Abbreviated Title of the Journal: Iğdır iibf dergisi