• Latest
  • Trending
  • All
  • Industry
  • Compliance
  • Global Trade
  • Industry
  • Sustainability & Ethics
  • Video
  • Security & Risk
Robotic hand using calculator amidst paperwork; AI in accounting. - Supply Chain News

ChatGPT: Revolutionizing Audit and Accountancy with AI, Challenges Ahead

12/16/2022
Trump's sweeping new tariffs take effect

Trump’s sweeping new tariffs take effect

10/07/2025
Trump imposing new 25% large truck tariff starting Nov. 1

Trump imposing new 25% large truck tariff starting Nov. 1

10/07/2025
World Bank warns US tariffs on Indian exports to slow South Asia growth next year

World Bank warns US tariffs on Indian exports to slow South Asia growth next year

10/07/2025
PayTech Group Driving Global Innovation in Payments and Financial Technology

PayTech Group Driving Global Innovation in Payments and Financial Technology

10/07/2025
Dairyking Technologies B.V. Nominated for the Go Global Awards 2025

Dairyking Technologies B.V. Nominated for the Go Global Awards 2025

10/07/2025
Comprehensive Overview of Trump Administration’s Expanding Tariff Policies

Comprehensive Overview of Trump Administration’s Expanding Tariff Policies

10/07/2025
AEGIS AI – HYPERCOM Nominated for the Go Global Awards 2025

AEGIS AI – HYPERCOM Nominated for the Go Global Awards 2025

10/07/2025
Breaking Down the US-China Tariff Landscape: What’s Active Now

Breaking Down the US-China Tariff Landscape: What’s Active Now

10/07/2025
Trump Announces New Tariffs on Timber, Furniture, and Drugs

Trump Announces New Tariffs on Timber, Furniture, and Drugs

10/07/2025
Warehouse interior with rows of boxes and autonomous robots, potentially impacted by US tariffs on imported goods. - Supply Chain News

Tariff Increases from Washington Draw Global Attention

10/07/2025
US to Impose 25% Tariff on Imported Medium and Heavy-Duty Trucks

US to Impose 25% Tariff on Imported Medium and Heavy-Duty Trucks

10/07/2025
Trump Finalizes Tariff Measures, Prompting Global Market Reaction

Trump Finalizes Tariff Measures, Prompting Global Market Reaction

10/06/2025
supplychainreport
Tuesday, October 7, 2025
  • Home
  • Industry
    • Supply Chain
    • Logistics & Transportation
    • Importing & Exporting
    • Manufacturing
    • Warehousing & Distribution
  • Compliance
    • Supply Chain Transparency
    • Anti-Money Laundering (AML)
    • Know Your Customer (KYC)
    • Risk Management
    • Export Controls
    • Sanctions
  • Global Trade
    • Market Trends
    • Economic Indicators
    • Sourcing
    • Trade Policies
    • International Relations
    • Trade Agreements
    • Tariffs & Duties
    • Import/Export Statistics
  • Luxury Goods
  • Industry
    • Blockchain in Supply Chain
    • Importing & Exporting
    • Automation & Robotics
    • Artificial Intelligence in Trade
    • Data & Analytics
  • Sustainability & Ethics
    • Green Supply Chains
    • Sustainable Logistics
    • Ethical Sourcing
    • Corporate Social Responsibility
    • Environmental Policies
  • Security & Risk
    • Cybersecurity in Trade
    • Fraud & Scams
    • Risk Mitigation
    • Security Protocols
    • Data Protection
  • ITC News
    • ITC Featured Members
    • ITC Business Councils Highlights
  • Events
    • Upcoming Conferences
    • Upcoming FREE Educational Webinars
No Result
View All Result
supplychainreport
No Result
View All Result

ChatGPT: Revolutionizing Audit and Accountancy with AI, Challenges Ahead

by Richie
12/16/2022
in Artificial Intelligence in Trade, Industry

YOU MAY ALSO LIKE

Dairyking Technologies B.V. Nominated for the Go Global Awards 2025

AEGIS AI – HYPERCOM Nominated for the Go Global Awards 2025

OpenAI’s ChatGPT is a cutting-edge chatbot that has the potential to significantly impact the audit and accountancy sector. Its advanced machine learning capabilities enable it to provide detailed answers on a wide range of topics, including those relevant to audit and accountancy.

Dimitris Kaskantanis, the Head of the internal audit data analytics team at Eurobank, tested ChatGPT with audit-related queries. The responses from ChatGPT covered a spectrum of topics, from the essential skills needed by auditors to how data analytics can aid in the audit process. Additionally, ChatGPT provided insights on conducting procurement audits and even offered a Python code snippet for identifying fraudulent transactions in a dataset.

While ChatGPT shows promise for providing quick and detailed answers, there are concerns about its current limitations and potential risks. Ian Pay, Head of Data Analytics and Tech at ICAEW, points out that the chatbot’s responses may lack the necessary judgment and context. This could pose trust issues, especially since the responses are based on data up to only 2021, potentially leading to outdated or incorrect information.

Esther Mallowah, Head of Tech Policy at ICAEW, raises the issue of misinformation, given that ChatGPT’s training data sources are not verifiable like those found via search engines. Users might accept the chatbot’s responses without sufficient scrutiny, which can be problematic in fields that rely on accuracy and up-to-date information, such as accounting and tax advice.

The potential for ChatGPT to replace certain jobs is also discussed, considering its capability to rapidly provide responses that would otherwise require extensive expertise. However, the tool’s current iteration falls short of replacing the nuanced, contextual advice provided by professionals.

Looking forward, if ChatGPT can address these issues, particularly in its approach to judgmental topics and source citation, it could evolve into a valuable tool for consultation and quick reference. Nonetheless, it is unlikely to replace the personalized and context-specific advice that professional accountants provide, nor the detailed audit procedures tailored to individual business needs.

Your source for supply chain report news updates: The Supply Chain Report. For international trade insights and tools, head to ADAMftd.com.

#OpenAI #ChatGPT #Eurobank #InternalAudit #AuditDataAnalytics #ICAEW #AuditTechnology #AIInAccounting #DataAnalytics #AuditProcess #FraudDetection #TechPolicy #AccountingInnovation #DigitalAudit #AccountingTools #AIInBusiness #AuditProfessionals #FutureOfAudit #MachineLearningInFinance #AIForAudit #AuditSkills #AIImpactOnAccounting #AccountingProfessionals #AuditAutomation

ShareTweet

Subscribe Our Newsletter

Share Your News

Whether it’s a groundbreaking achievement, a heartwarming tale, or an insightful perspective, we want to hear it. Share your news with us, and let’s amplify your voice in the digital symphony of stories.

Submit

A man is riding a bike on a hill.

The Supply Chain Report is your essential daily news website, serving as a trusted source for comprehensive coverage of the complex and ever-evolving global supply chain dynamics. Our expert team delves into the intricacies of international trade, manufacturing, logistics, importing, exporting, and supply chain management; providing in-depth analysis and up-to-date news on the latest trends, disruptions, and technological advancements affecting industries worldwide. From detailed reports on international trade through to insights into procurement strategies and inventory management, we offer valuable content that helps professionals stay informed and make knowledgeable decisions in a fast-paced market.

Each day, we bring you cutting-edge news and expert commentary that dissect significant international trade and supply chain issues Our coverage spans a wide array of sectors including manufacturing, retail, healthcare, food, consumer goods, and technology, ensuring that no matter your field, you have the strategic information needed to navigate the challenges and opportunities of today’s supply chain landscape. By synthesizing complex data and presenting actionable insights, The Supply Chain Report empowers business leaders, policymakers, and logistics professionals to optimize their operations and drive forward with confidence in an interconnected world.

Connect With Us

  • About
  • Events
  • Privacy Policy
  • Contact Us

© 2024 International Centre for Trade Transparency Limited. Incorporated in the United Kingdom.

No Result
View All Result
  • Home
  • Industry
    • Supply Chain
    • Logistics & Transportation
    • Importing & Exporting
    • Manufacturing
    • Warehousing & Distribution
  • Compliance
    • Supply Chain Transparency
    • Anti-Money Laundering (AML)
    • Know Your Customer (KYC)
    • Risk Management
    • Export Controls
    • Sanctions
  • Global Trade
    • Market Trends
    • Economic Indicators
    • Sourcing
    • Trade Policies
    • International Relations
    • Trade Agreements
    • Tariffs & Duties
    • Import/Export Statistics
  • Luxury Goods
  • Industry
    • Blockchain in Supply Chain
    • Importing & Exporting
    • Automation & Robotics
    • Artificial Intelligence in Trade
    • Data & Analytics
  • Sustainability & Ethics
    • Green Supply Chains
    • Sustainable Logistics
    • Ethical Sourcing
    • Corporate Social Responsibility
    • Environmental Policies
  • Security & Risk
    • Cybersecurity in Trade
    • Fraud & Scams
    • Risk Mitigation
    • Security Protocols
    • Data Protection
  • ITC News
    • ITC Featured Members
    • ITC Business Councils Highlights
  • Events
    • Upcoming Conferences
    • Upcoming FREE Educational Webinars

© 2024 International Centre for Trade Transparency Limited. Incorporated in the United Kingdom.