Economy, finances, management: topical issues of science and practical activity

SCIENTIFIC JOURNALS OF VINNITSA NATIONAL AGRARIAN UNIVERSITY

Issue №: 3 (69)

Published: 2024.09.17

DOI: 10.37128/2411-4413-2024-3

Description:
The journal deals with the issues of efficiency of functioning of the national economics and organizational forms of management of the national economy. Attention is paid to the problems of marketing, management and efficiency of production and economic activity of agrarian enterprises. The issues of public administration and administration, accounting and taxation, banking and insurance, forecasting and modeling of economic processes, foreign economic activity, commodity flows of economic entities and their infrastructure support.

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THE USE OF ARTIFICIAL INTELLIGENCE IN AUDIT: ADVANTAGES AND CHALLENGES

DOI: 10.37128/2411-4413-2024-3-3

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ZDYRKO Nataliya – Doctor of Economic Sciences, Professor, Director of the Educational and Scientific Institute of Economics and Management, Vinnytsia National Agrarian University. (21008, Vinnytsia, Soniachna str. 3, е-mail: Natashka26@i.ua).

MULYK Tetiana – Candidate of Economic Sciences, Associate Professor, Head of the Analysis and Audit Department, Vinnytsia National Agrarian University (21008, Vinnytsia, 13, Soniachna Str., e-mail: mulyk_t_o@ukr.net).

MULYK Yaroslavna  Candidate of Economic Sciences, Associate Professor, Associate Professor of the Accounting and Taxation Department, Vinnytsia National Agrarian University (21008, Vinnytsia, 3, Sonіachna Str., e-mail: mulyk.yaroslavna@ukr.net).

Annotation

The article examines the use of artificial intelligence (hereinafter – AI) in auditing activities. Its purpose is to analyse the current state of AI in audit, identify its advantages and challenges, as well as to predict the prospects for the development of audit with AI using. The article reviews sources related to the use of AI in economic activity and auditing, in particular. The historical stages of AI development are considered. The article presents some statistics on the development of AI in Ukraine, namely, the number of AI companies in Central and Eastern Europe (hereinafter – CEE), the industry distribution of AI startups in Ukraine compared to Europe. It is substantiated that the use of AI in the audit is a logical and necessary step to improve the efficiency and effectiveness of auditing activities. The article analyses the use of AI by the Big Four companies – Deloitte Touche Tohmatsu Limited (hereinafter – Deloitte), Ernst & Young Global Limited (hereinafter – EY), Klynveld Peat Marwick Goerdeler (hereinafter – KPMG) and PricewaterhouseCoopers (hereinafter – PwC). One of the key aspects of the article is the analysis of the benefits of using AI in audit. It is emphasised that AI can significantly increase the efficiency of audit procedures, reduce the number of human errors, and identify new patterns and trends in the data. In addition, AI allows for a more in-depth analysis of the financial statements and identifies risks that may be missed in a traditional audit. At the same time, the article focuses on the challenges associated with the use of AI in audit. The main ones include the need for high quality data for the auditor’s work, transparency of the algorithms, quality of models, and ethical issues related to the use of AI. The article also discusses the prospects for the development of AI in audit. The authors predict that in the future, AI will become an integral part of audit activities, changing traditional audit models and opening up new opportunities to improve the quality of auditing services.

The results of the study can be used by auditing companies to develop new audit methods and tools, as well as to improve the quality of auditing services. This article will be useful for auditors, AI researchers, and anyone interested in the development of technology in the audit sector.

Keywords: artificial intelligence, big data, automation, audit, auditing activities, auditors.

List of references

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About the journal

Topics of the journal:

С1 Economics and International Economic Relations (by specialization)

D1 Accounting and Taxation

D2 Finance, Banking, Insurance and Stock Market

D3 Management

D4 Public Management and Administration

D5 Marketing

D7 Trade

J3 Tourism and Recreation

Keywords: economics , international economic relations , accounting , taxation , finance , banking , insurance , stock market , management , public management and administration , marketing , trade , tourism and recreation

Key information:

ISSN (print): 2411-4413

DOI: 10.37128

All-Ukrainian scientific and production journal “Economics, finance, management: topical issues of science and practical activity” is a peer-reviewed open-access journal that publishes original research, theoretical articles and reviews on a wide range of economic and business issues. The articles, which have scientific and scientific-practical significance, highlight theoretical and methodological aspects of the development of agrarian sector of economy and related industries, the results of fundamental and applied research.

The purpose of the journal is to highlight the results of fundamental and applied research in the field of economic sciences, aimed at developing modern approaches to managing economic processes, financial support for enterprise activities and increasing the efficiency of economic systems. The publication is focused on creating a scientific environment for the exchange of research results between scientists, higher education students and practitioners in economic sphere, as well as on the dissemination of modern scientific and methodological approaches to solving current economic and management problems. The journal contributes to the development of the research in the field of enterprise economics, finance, accounting, auditing, management, marketing, entrepreneurship, trade, tourism and recreation, public management and administration, economic development and international economic relations, which meets the modern needs of the socio-economic development of the state.

The journal’s objectives are:

• publishing the results of fundamental and applied research in the fields of economics, international economic relations, finance, management, public administration, accounting, marketing, tourism and recreation, and entrepreneurship;

• promoting the development of modern methods of managing enterprises and organizations, increasing the efficiency of using financial and material resources;

• supporting the research aimed at improving the economic mechanisms of enterprise functioning, developing innovative activity, and increasing the competitiveness of economic structures;

• ensuring the scientific exchange of research results between higher education institutions, scientific institutions, and business entities;

• developing methods of economic analysis, forecasting, and modeling of socio-economic processes;

• disseminating of modern approaches to financial management, accounting, taxation, and control of economic activity;

• promoting the development of interdisciplinary research related to the economic support of the development of agrarian sector of economy and rural areas;

• integration of scientific research results into the international scientific space and increasing the level of scientific communication.

Publisher: Vinnytsia National Agrarian University

Link to the journal on the publisher’s website: ”Economics, finance, management: topical issues of science and practical activity”

Frequency of issue: 4 times a year.

Language of publication: Ukrainian, English.

Editor-in-Chief: Inna Honcharuk

State registration: Decision of the National Council of Ukraine on Television and Radio Broadcasting No. 1337 and No. 1178. Media identifier – R30-05171. Publisher registration number (EDRPOU) 00497236.

Publisher’s ROR: https://ror.org/05m3ysc06 Publisher’s DOI prefix: 10.37128 ISSN (print): 2411-4413

Publisher DOI prefix: 10.37128 ISSN (print): 2411-4413

The scientific journal is included in category "B" of the List of scientific professional publications of Ukraine, in which the results of dissertations for the degree of Doctor and Candidate of Sciences in the specialties C1 (051) - Economics, D1 (071) - Accounting and Taxation, D2 (072) – Finance, Banking, Insurance and Stock Market, D3 (073) – Management, D5 (075) – Marketing, D7 (076) – Entrepreneurship and Trade, (241) – Hotel and Restaurant Business, D4 (281) – Public Management and Administration (Order of the Ministry of Education and Science of Ukraine dated March 17, 2020 №409)

History of journal:

Founded in 1997 under the name ”Bulletin of Vinnytsia State Agricultural Institute”. In 2010-2014 it was published under the name “Collection of Scientific Papers of Vinnytsia National Agrarian University”. Since 2015 “Economics, finance, management: current issues of science and practical activity” (Certificate of State Registration of Mass Media No. 21154-10954 PR dated 12/31/2014).