{"672967":{"#nid":"672967","#data":{"type":"news","title":"The Use of AI By Financial Executives and Their Auditors","body":[{"value":"\u003Cp\u003E\u003Cspan\u003E\u003Cspan\u003E\u003Cspan\u003EArtificial intelligence is starting to have the capability to improve both financial reporting and auditing. However, both companies and audit firms will only realize the benefits of AI if their people are open to the information generated by the technology. A new study forthcoming in \u003Ca href=\u0022https:\/\/link.springer.com\/article\/10.1007\/s11142-023-09771-y\u0022\u003E\u003Cspan\u003EReview of Accounting Studies\u003C\/span\u003E\u003C\/a\u003E attempts to understand how financial executives perceive and respond to the use of AI in both financial reporting and auditing.\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/p\u003E\r\n\r\n\u003Cp\u003E\u003Cspan\u003E\u003Cspan\u003E\u003Cspan\u003EIn \u201cHow do Financial Executives Respond to the Use of Artificial Intelligence in Financial Reporting and Auditing?,\u201d researchers surveyed financial executives (e.g., CFOs, controllers) to assess their perceptions of AI use in their companies\u2019 financial reporting process, as well as the use of AI by their financial statement auditor. The study is authored by \u003Ca href=\u0022https:\/\/www.scheller.gatech.edu\/directory\/faculty\/mackenzie\/index.html\u0022\u003ENikki MacKenzie\u003C\/a\u003E of the Georgia Tech Scheller College of Business, \u003Ca href=\u0022https:\/\/goizueta.emory.edu\/faculty\/profiles\/cassandra-estep\u0022\u003ECassandra Estep\u003C\/a\u003E from Emory University, and \u003Ca href=\u0022https:\/\/business.wisc.edu\/directory\/profile\/emily-griffith\/\u0022\u003EEmily Griffith\u003C\/a\u003E of the University of Wisconsin. \u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/p\u003E\r\n\r\n\u003Cp\u003E\u003Cspan\u003E\u003Cspan\u003E\u003Cspan\u003E\u201cWe were curious about how financial executives would respond to AI-generated information as we often hear how the financial statements are a joint product of the company and their auditors. While we find that financial executives are rightfully cautious about the use of AI, we do not find that they are averse to its use as has been previously reported. In fact, a number of our survey respondents were excited about AI and see the significant benefits for their companies\u2019 financial reporting process,\u201d says MacKenzie.\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/p\u003E\r\n\r\n\u003Cp\u003E\u003Cspan\u003E\u003Cspan\u003E\u003Cspan\u003E\u003Cspan\u003E\u003Cspan\u003E\u003Cspan\u003E\u003Cspan\u003E\u003Cspan\u003EContinue reading: \u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003Ca href=\u0022https:\/\/www.forbes.com\/sites\/josephbrazel\/2024\/02\/06\/the-use-of-ai-by-financial-executives-and-their-auditors\/?sh=73497fa49aa8\u0022\u003E\u003Cspan\u003E\u003Cspan\u003E\u003Cspan\u003EThe Use of AI by Financial Executives and Their Auditors\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/a\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/p\u003E\r\n\r\n\u003Cp\u003E\u003Cspan\u003E\u003Cspan\u003E\u003Cspan\u003E\u003Cstrong\u003E\u003Cem\u003EReprinted from Forbes\u003C\/em\u003E\u003C\/strong\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/span\u003E\u003C\/p\u003E\r\n","summary":"","format":"limited_html"}],"field_subtitle":"","field_summary":[{"value":"\u003Cp\u003EIn a recent article in Forbes by Joseph Brazel, he examines research conducted by Nikki MacKenzie, assistant professor of Accounting at the Georgia Tech Scheller College of Business, and her colleagues on how financial executives view AI and its use in the financial reporting process.\u003C\/p\u003E\r\n","format":"limited_html"}],"field_summary_sentence":[{"value":"A new study attempts to understand how financial executives perceive and respond to the use of AI in both financial reporting and auditing."}],"uid":"28082","created_gmt":"2024-02-15 16:04:26","changed_gmt":"2024-02-15 16:14:49","author":"Lorrie Burroughs","boilerplate_text":"","field_publication":"","field_article_url":"","dateline":{"date":"2024-02-15T00:00:00-05:00","iso_date":"2024-02-15T00:00:00-05:00","tz":"America\/New_York"},"extras":[],"hg_media":{"673098":{"id":"673098","type":"image","title":"Nikki MacKenzie","body":null,"created":"1708010361","gmt_created":"2024-02-15 15:19:21","changed":"1708010361","gmt_changed":"2024-02-15 15:19:21","alt":"Nikki MacKenzie","file":{"fid":"256453","name":"nikki-mackenzie_0.jpg","image_path":"\/sites\/default\/files\/2024\/02\/15\/nikki-mackenzie_0.jpg","image_full_path":"http:\/\/hg.gatech.edu\/\/sites\/default\/files\/2024\/02\/15\/nikki-mackenzie_0.jpg","mime":"image\/jpeg","size":99599,"path_740":"http:\/\/hg.gatech.edu\/sites\/default\/files\/styles\/740xx_scale\/public\/2024\/02\/15\/nikki-mackenzie_0.jpg?itok=CWpe4h1e"}}},"media_ids":["673098"],"related_links":[{"url":"https:\/\/www.forbes.com\/sites\/josephbrazel\/2024\/02\/06\/the-use-of-ai-by-financial-executives-and-their-auditors\/?sh=73497fa49aa8","title":"The Use Of AI By Financial Executives And Their Auditors"}],"groups":[{"id":"1274","name":"Scheller College of Business"}],"categories":[{"id":"139","name":"Business"},{"id":"135","name":"Research"}],"keywords":[{"id":"192863","name":"go-ai"}],"core_research_areas":[{"id":"39501","name":"People and Technology"}],"news_room_topics":[],"event_categories":[],"invited_audience":[],"affiliations":[],"classification":[],"areas_of_expertise":[],"news_and_recent_appearances":[],"phone":[],"contact":[{"value":"\u003Cp\u003ELorrie Burroughs, Scheller College of Business\u003C\/p\u003E\r\n","format":"limited_html"}],"email":["lorrie.burroughs@scheller.gatech.edu"],"slides":[],"orientation":[],"userdata":""}}}