Will AI Replace Accountants and Auditors?

Prepare, examine, or analyze accounting records, financial statements, or other financial reports to assess accuracy, completeness, and conformance to reporting and procedural standards.

data analysis — Analyzes structured financial data with tools

Process invoices for payment.

data analysis — Payments executed via systems; human authorizes

Review accounts for discrepancies and reconcile differences.

data analysis — Examines records for anomalies; human validates findings

Compute taxes owed and prepare tax returns, ensuring compliance with payment, reporting, or other tax requirements.

data analysis — Tax calculation with rules; human review

Prepare adjusting journal entries.

text generation — Standard financial documents drafted from data

Inspect account books and accounting systems for efficiency, effectiveness, and use of accepted accounting procedures to record transactions.

data analysis — Examines records for anomalies; human validates findings

Prepare detailed reports on audit findings.

data analysis — Reports and budgets drafted; human owns assumptions

Prepare, analyze, or verify annual reports, financial statements, and other records, using accepted accounting and statistical procedures to assess financial condition and facilitate financial planning.

data analysis — Financial accuracy checks, human reviews exceptions

Collect and analyze data to detect deficient controls, duplicated effort, extravagance, fraud, or non-compliance with laws, regulations, and management policies.

information retrieval — Legal research strong, judgment and accountability human

Review data about material assets, net worth, liabilities, capital stock, surplus, income, or expenditures.

data analysis — Examines records for anomalies; human validates findings

Report to management regarding the finances of establishment.

text generation — AI drafts reports to managers; human sends

Evaluate taxpayer finances to determine tax liability, using knowledge of interest and discount rates, annuities, valuation of stocks and bonds, and amortization valuation of depletable assets.

data analysis — Financial status from documents, human verifies

Supervise auditing of establishments, and determine scope of investigation required.

interpersonal — Overseeing business processes requires human accountability

Develop, implement, modify, and document recordkeeping and accounting systems, making use of current computer technology.

decision support — AI drafts system specs; business context human

Confer with company officials about financial and regulatory matters.

interpersonal — Strategy discussion with managers is accountable judgment

Review taxpayer accounts, and conduct audits on-site, by correspondence, or by summoning taxpayer to office.

data analysis — Financial accuracy checks, human reviews exceptions

Establish tables of accounts and assign entries to proper accounts.

text generation — Standard financial documents drafted from data

Inspect cash on hand, notes receivable and payable, negotiable securities, and canceled checks to confirm records are accurate.

data analysis — Cross-checking records against criteria, human spot-checks

Examine and evaluate financial and information systems, recommending controls to ensure system reliability and data integrity.

data analysis — Analyzes records and processes; human confirms conclusions

Examine records and interview workers to ensure recording of transactions and compliance with laws and regulations.

data analysis — Analyzes records and processes; human confirms conclusions

Analyze business operations, trends, costs, revenues, financial commitments, and obligations to project future revenues and expenses or to provide advice.

data analysis — Analyzes structured financial data with tools

Develop, maintain, or analyze budgets, preparing periodic reports that compare budgeted costs to actual costs.

data analysis — Budgetary/accounting analysis is routine quantitative work

Represent clients before taxing authorities and provide support during litigation involving financial issues.

decision support — Legal advice carries licensure and liability; human owns

Direct activities of personnel engaged in filing, recording, compiling, and transmitting financial records.

text generation — Track and draft regulatory documentation; human verifies

Audit payroll and personnel records to determine unemployment insurance premiums, workers' compensation coverage, liabilities, and compliance with tax laws.

data analysis — Examines records for anomalies; human validates findings

Examine whether the organization's objectives are reflected in its management activities, and whether employees understand the objectives.

decision support — Policy evaluation needs organizational context and judgment

Conduct pre-implementation audits to determine if systems and programs under development will work as planned.

data analysis — Analyzes records and processes; human confirms conclusions

Advise clients in areas such as compensation, employee health care benefits, the design of accounting or data processing systems, or long-range tax or estate plans.

interpersonal — HR advice sensitive; accountability and context human

Examine inventory to verify journal and ledger entries.

data analysis — Cross-checking records against criteria, human spot-checks

Report to management about asset utilization and audit results, and recommend changes in operations and financial activities.

text generation — AI drafts reports to managers; human sends