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Application of artificial intelligence in continuous auditing with an emphasis on transparency, accountability and risk analysis
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Abstract: (59 Views) |
Given the statutory obligations set forth in Article 107 of the Seventh Five-Year Development Plan of the Islamic Republic of Iran regarding smartification, the realization of electronic government, and the mandate for executive bodies to connect their primary and backup data centers to the integrated cloud infrastructure of the smart government (Clause A), data exchange platforms and integrated information systems have emerged that constitute the foundation of modern supervisory technologies. Accordingly, this study aims to investigate the role and function of artificial intelligence (AI) in implementing continuous auditing and improving the risk analysis process in modern financial systems. In this study, the application of artificial intelligence algorithms—including machine learning, predictive analytics, and natural language processing—in auditing processes is analyzed. The findings indicate that the integration of these technologies significantly reduces the time required for anomaly detection, increases accuracy in predicting risks of material misstatement, and enhances the reliability of financial reports. The results of the research demonstrate that the use of explainable AI (XAI) models, while reducing ambiguity in algorithmic decision-making, increases the transparency of the auditing process and strengthens stakeholders’ trust in technology-driven audit outcomes. Furthermore, aligning AI tools with international auditing standards, particularly in the areas of risk identification and assessment and the gathering of audit evidence, leads to more efficient supervisory processes and improved financial accountability. Overall, the findings of this research show that failure to adopt AI in the auditing profession can lead to professional lag and a decline in the effectiveness of supervisory systems; whereas, a purposeful and governed integration of this technology not only reduces costs and enhances the quality of auditors’ professional judgment, but also paves the way for increased financial transparency, strengthened smart supervision, and enhanced public trust in financial organizations |
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| Keywords: Artifical intelligence, continuous auditing, Risk Analysis, Auditing Standards, Article 107the seventh Development Plan |
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Full-Text [PDF 519 kb]
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Type of Study: Research |
Subject:
Special
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