The Effects of Liability and Risk Management Policies due to Implementation of AI in Accounting Firms

Presenter

Adam Russell

Campus

UMass Boston

Sponsor

Zaur Rzakhanov, Department of Accounting and Finance, UMass Boston

Schedule

Session 2, 11:30 AM - 12:15 PM [Schedule by Time][Poster Grid for Time/Location]

Location

Poster Board A6, Campus Center Auditorium, Row 1 (A1-A20) [Poster Location Map]

Abstract

Artificial Intelligence is known as the theory and development of computer systems able to perform tasks that normally require human intelligence, such as visual perception, speech recognition, decision-making, and translation between languages. The use of artificial intelligence in processing vast amounts of data has heightened concerns over privacy rights, including an individual's right to privacy. The purpose of this paper is to determine the changes that had to be made in accounting firms risk and liability management policies due to the recent investments and implementation of artificial intelligence. With the latest development in artificial intelligence coming in late 2022, accounting firms across the globe have been making multi-million to multi-billion-dollar investments with the intention of developing their own artificial intelligence applications. Based on interviews that will be conducted with members of an accounting firm and on relevant and accurate information that has been shared online, the research will describe several implications on how artificial intelligence will affect these firms' privacy, liability, and risk management policies in the future.

Keywords

Artificial Intelligence, AI, Accounting Firms, Risk Management, Liability Management

Research Area

Artificial Intelligence

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