Will AI replace Accountants and Auditors?

−Already happening(7)

• Prepare, examine, or analyze accounting records, financial statements, or other financial reports to assess accuracy, completeness, and conformance to reporting and procedural standards.
• Collect and analyze data to detect deficient controls, duplicated effort, extravagance, fraud, or non-compliance with laws, regulations, and management policies.
• Establish tables of accounts and assign entries to proper accounts.
• Prepare detailed reports on audit findings.
• Examine records and interview workers to ensure recording of transactions and compliance with laws and regulations.

and 2 more

~Within reach(19)

• Compute taxes owed and prepare tax returns, ensuring compliance with payment, reporting, or other tax requirements.
• Prepare adjusting journal entries.
• Inspect account books and accounting systems for efficiency, effectiveness, and use of accepted accounting procedures to record transactions.
• Review data about material assets, net worth, liabilities, capital stock, surplus, income, or expenditures.
• 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.

and 14 more

+Out of reach(4)

• Review accounts for discrepancies and reconcile differences.
• Supervise auditing of establishments, and determine scope of investigation required.
• Inspect cash on hand, notes receivable and payable, negotiable securities, and canceled checks to confirm records are accurate.
• Examine inventory to verify journal and ledger entries.