Challenges and opportunities for artificial intelligence in auditing: Evidence from the field

• We research AI adoption in auditing by large public accounting firms, with emphasis on its challenges and opportunities. • We find that “simple AI” technologies are used widely in audits while “complex AI” tools are only being developed. • AI adoption challenges are related to transparency / explainability, AI bias, data privacy, and robustness / reliability. • Other AI adoption challenges are fear of auditor overreliance on AI, and the need for AI guidance. • We present ideas for addressing these challenges based on our research and lessons from other fields. In this study we research the adoption of artificial intelligence (AI) in auditing by large public accounting firms, with emphasis on its challenges…