Table Of ContentArtificial Intelligence in Accounting
Artificial Intelligence (AI) and Big Data based applications in accounting and
auditing have become pervasive in recent years. However, research on the
societal implications of the widespread and partly unregulated use of AI and
Big Data in several industries remains scarce despite salient and competing
utopian and dystopian narratives.
This book focuses on the transformation of accounting and auditing based
on AI and Big Data. It not only provides a thorough and critical overview
of the status-quo and the reports surrounding these technologies, but it also
presents a future outlook on the ethical and normative implications concerning
opportunities, risks, and limits. The book discusses topics such as future,
human-machine collaboration, cybernetic approaches to decision-making,
and ethical guidelines for good corporate governance of AI-based algorithms
and Big Data in accounting and auditing. It clarifies the issues surrounding the
digital transformation in this arena, delineates its boundaries, and highlights
the essential issues and debates within and concerning this rapidly developing
field. The authors develop a range of analytic approaches to the subject, both
appreciative and sceptical, and synthesise new theoretical constructs that make
better sense of human-machine collaborations in accounting and auditing.
This book offers academics a variety of new research and theory building
on digital accounting and auditing from and for accounting and auditing
scholars, economists, organisations, and management academics and
political and philosophical thinkers. Also, as a landmark work in a new
area of current policy interest, it will engage regulators and policy makers,
reflective practitioners, and media commentators through its authoritative
contributions, editorial framing and discussion, and sector studies and cases.
Othmar M. Lehner is a professor and director of the Hanken Center for
Accounting, Finance and Governance at the Hanken School of Economics,
Helsinki. His research combines accounting, information sciences, and
organisation theory to drive forward societal insights on sustainability and
the digitalisation of work processes.
Carina Knoll is an aspiring researcher in the field of Digital Accounting at
the University of Applied Sciences Upper Austria. Bringing a background in
sociology and management from the Johannes Kepler University of Upper
Austria, her interest is the humanist implications of the digital transformation
in accounting and auditing.
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Edited by Margarida M. Pinheiro and Alberto J. Costa
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A Review of Global Research and Future Research Opportunities
Marshall A. Geiger, Anna Gold and Philip Wallage
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Business Models and Corporate Reporting
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Lorenzo Simoni
Accounting and Auditing Standards for Islamic Financial Institutions
Mohd Ma’Sum Billah
Quality Management and Accounting in Service Industries
A New Model of Quality Cost Calculation
Wojciech Sadkowski and Piotr Jedynak
Artificial Intelligence in Accounting
Organisational and Ethical Implications
Edited by Othmar Lehner and Carina Knoll
For more information about this series, please visit www.routledge.com/
Routledge-Studies-in-Accounting/book-series/SE0715
Artificial Intelligence in
Accounting
Organisational and Ethical
Implications
Edited by Othmar M. Lehner and
Carina Knoll
First published 2023
by Routledge
4 Park Square, Milton Park, Abingdon, Oxon OX14 4RN
and by Routledge
605 Third Avenue, New York, NY 10158
Routledge is an imprint of the Taylor & Francis Group, an informa business
© 2023 selection and editorial matter, Othmar M Lehner and Carina
Knoll; individual chapters, the contributors
The right of Othmar M Lehner and Carina Knoll to be identified as
authors of this work has been asserted in accordance with sections 77
and 78 of the Copyright, Designs and Patents Act 1988.
All rights reserved. No part of this book may be reprinted or reproduced
or utilised in any form or by any electronic, mechanical, or other
means, now known or hereafter invented, including photocopying and
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Trademark notice: Product or corporate names may be trademarks
or registered trademarks, and are used only for identification and
explanation without intent to infringe.
British Library Cataloguing-in-Publication Data
A catalogue record for this book is available from the British Library
Library of Congress Cataloging-in-Publication Data
Names: Lehner, Othmar M, author. | Knoll, Carina, author.
Title: Artificial intelligence in accounting : organisational and ethical
implications/Othmar M Lehner and Carina Knoll.
Description: Abingdon, Oxon ; New York, NY : Routledge, 2023. |
Series: Routledge studies in accounting | Includes bibliographical
references and index.
Identifiers: LCCN 2022006282 | ISBN 9781032055626 (hardback) |
ISBN 9781032055633 (paperback) | ISBN 9781003198123 (ebook)
Subjects: LCSH: Accounting – Moral and ethical aspects. | Accounting –
Data processing. | Artificial intelligence.
Classification: LCC HF5625.15 .L44 2023 | DDC 174/.9657 – dc23/
eng/20220216
LC record available at https://lccn.loc.gov/2022006282
ISBN: 978-1-032-05562-6 (hbk)
ISBN: 978-1-032-05563-3 (pbk)
ISBN: 978-1-003-19812-3 (ebk)
DOI: 10.4324/9781003198123
Typeset in Sabon
by Apex CoVantage, LLC
Contents
List of Contributors vii
List of Tables viii
List of Figures ix
PART I
Introduction to Artificial Intelligence and
Big Data in Accounting 1
1 Organisational and Ethical Perspectives 3
OTHMAR M. LEHNER AND CARINA KNOLL
2 Artificial Intelligence-driven Accounting (AIDA):
Future Insights and Organisational Implications 6
OTHMAR M. LEHNER, SUSANNE LEITNER-HANETSEDER,
CHRISTOPH EISL AND CARINA KNOLL
PART II
Organisational Implications 35
3 The “Human” Factor in a Digital Accounting World 37
SHAWNIE KRUSKOPF, CHARLOTTA LOBBAS,
HANNA MEINANDER AND KIRA SÖDERLING
4 Quo Vadis Accountancy? – Future Roles and
Responsibilities 54
SUSANNE LEITNER-HANETSEDER, OTHMAR M. LEHNER,
CHRISTOPH EISL AND CARINA KNOLL
5 The Need for an Adapted Skillset for Accountants –
What Does Accounting Education Literature Tell Us? 76
SUSANNE LEITNER-HANETSEDER, CARINA KNOLL,
CHRISTOPH EISL AND OTHMAR M. LEHNER
vi Contents
6 Cybernetic Limits of Artificial Intelligence in
Accounting and a Future Research Agenda 98
HEIMO LOSBICHLER AND OTHMAR M. LEHNER
7 Good Governance of AI and Big Data Processes
in Accounting and Auditing 119
TATU JAUHIAINEN AND OTHMAR M. LEHNER
8 Cybersecurity in Accounting Research 182
ELINA HAAPAMÄKI AND JUKKA SIHVONEN
PART III
Ethical Implications 215
9 Ethics and the Future of Artificial Intelligence in Auditing 217
MICHAEL ALLES, IVY MUNOKO AND MIKLOS VASARHELYI
10 Ethical Challenges and Normative Thinking in AIDA 231
OTHMAR M. LEHNER, KIM ITTONEN, HANNA SILVOLA AND
EVA STRÖM
11 The Promise of Digital Accounting and Auditing:
Brave New World or Dystopia? 262
HANNAH SELIGSON AND OTHMAR M. LEHNER
Index 306
Contributors
Michael Alles, Rutgers Business School, Newark and New Brunswick, US
Christoph Eisl, University of Applied Sciences Upper Austria
Elina Haapamäki, University of Vaasa, FI
Kim Ittonen, Hanken School of Economics, Helsinki, FI
Tatu Jauhiainen, Hanken School of Economics, Helsinki, FI
Carina Knoll, University of Applied Sciences Upper Austria
Shawnie Kruskopf, Hanken School of Economics, Helsinki, FI
Othmar M. Lehner, Hanken School of Economics, Helsinki, FI
Susanne Leitner-Hanetseder, University of Applied Sciences Upper Austria
Charlotta Lobbas, Hanken School of Economics, Helsinki, FI
Heimo Losbichler, University of Applied Sciences Upper Austria
Hanna Meinander, Hanken School of Economics, Helsinki, FI
Ivy Munoko, Rutgers Business School, Newark and New Brunswick, US
Hannah Seligson, Hanken School of Economics, Helsinki, FI
Jukka Sihvonen, Aalto University, Helsinki, FI
Hanna Silvola, Hanken School of Economics, Helsinki, FI
Kira Söderling, Hanken School of Economics, Helsinki, FI
Eva Ström, Hanken School of Economics, Helsinki, FI
Miklos Vasarhelyi, Rutgers Business School, Newark and New Brunswick, US
Tables
2.1 Exemplary overview of characteristics of some participants
(total: 138, anonymised) 11
3.1 Human-machine teamwork 41
3.2 Potential required skills now and in the future 48
4.1 Composition of the interviewees 60
4.2 Roles, related tasks, human and AI-based actors in accounting 61
5.1 Bibliographical information of the reviewed journals 79
5.2 Study characteristics of included articles (n = 41) 82
5.3 Identified skills in included articles 84
5.4 Summary of important courses and IT skills and
recommendations for education 93
7.1 Proposed AI process ownership for accounting systems 151
8.1 Breakdown of studies reviewed 187
8.2 Studies on cybersecurity. The number of articles within
each stream is presented in parentheses 188
8.3 Distribution of Google Scholar citations (as of January 7,
2019) 208
8.4 Ten most-cited articles in the field of cybersecurity
(Google Scholar citations as of January 7, 2019) 208
10.1 Exemplary articles and their topic/context from the
accounting field 238
10.2 Ethical challenges as themes from the thematic coding 241
11.1 Summary of the analysed documents 273
11.2 Value promises as themes from the thematic coding 274
Figures
2.1 Development of AIDA organisations as social systems
over time 13
5.1 Selection process 80
5.2 Publication timeline of selected articles 84
6.1 Influences and the digitisation of forecasting 99
6.2 Exemplary structure of complex systems 101
6.3 Controlling circle and forecast analysis 104
6.4 Fields of application and degree of support of machine
forecasts 105
6.5 AI and human collaboration 105
7.1 Three lines of defence and risk identification 133
7.2 Continuous risk management assessment of AI 136
7.3 Types of bias and where they can occur 141
7.4 Delegation of accountability 149
7.5 AI system life cycle 152
7.6 AI strategy 157
8.1 Trends of cybersecurity-related studies over the period of
2000–2018 193
8.2 Framework of research streams and factors related to
cybersecurity 194
9.1 Ethical principles at risk 227
10.1 The logic and frame of our thinking 242
10.2 Findings summarised: ethical challenges and their
relations to Rest’s model 249
10.3 AI and humans’ collaboration scenarios 250
11.1 Illustration of Big Data, AI, and its subsets 269
11.2 The steps of thematic data analysis (inductive approach) 273
11.3 Summary of changes in the accounting and auditing landscape 282
11.4 The transformation to enrich and empower individuals 286
11.5 The broad and inclusive ecosystem in the landscape 291
11.6 The value promises of AI-driven accounting 292
