Use of ChatGPT in the financial statement audit (execution phase) and the influence of ethical implications
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2025-07-10
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en
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Artificial Intelligence is reshaping professional practices, including the field of auditing.
This research investigates the use of ChatGPT during the execution phase of the financial statement audit, focusing on its impact on audit efficiency and accuracy, and the ethical implications that influence its usage. An inductive research approach is adopted, using semi-structured interviews with auditors from a Dutch SME accountancy company. The results reveal that ChatGPT is primarily used for textual tasks and regulatory research, contributing to efficiency and, to a lesser extent, accuracy. However, its broader usage is constrained due to the inefficiency, inaccuracy, and ethical implications (privacy, security, bias, and transparency). These implications are particularly significant in an SME company that cannot create proprietary AI tools, and for auditors who have for-profit clients. While present use is modest, respondents are optimistic about ChatGPT's prospects as the technology continually evolves. However, the research acknowledges limitations such as potential interpretation bias in the data analysis process, focus on one audit phase, and the single-company sample. Future research should explore broader contexts, involving other audit phases and more companies. Overall, this research demonstrates both the potential and the implications of incorporating ChatGPT into the execution phase of the financial statement audit.
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Faculteit der Managementwetenschappen