¹Dr. Ibrahim M. Oleimat, ²MR. Muaath M. Oleimat, ³Ali M. G. Khawaldeh, ⁴Rana Mustafa Al-Khateeb

¹Helpers of Success, Managing Partner
²Tax & Audit Partner
³Police Officer
⁴External Auditor

DOI : https://doi.org/10.47191/ijsshr/v8-i1-73

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ABSTRACT

This research examines the transformative role of the Artificial Intelligence (AI) in the financial reporting, emphasizing its effects on accuracy, timeliness, transparency, and regulatory compliance. AI technologies such as natural language processing, machine learning, and data analytics are revolutionizing traditional financial reporting processes by reducing manual effort, minimizing human errors, and enhancing predictive capabilities. Employing a mixed-methods approach, this study draws on interviews with industry professionals, academic literature reviews and industry reports. Findings reveal that AI significantly impact the accuracy and speed of financial reporting while fostering transparency and compliance. However, challenges like algorithmic bias and data privacy concerns persist. Recommendations include focusing on AI training, data governance, and continuous monitoring to maximize the AI benefits while mitigating its risks.

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Volume 08 Issue 01 January 2025