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Longo Faculty of Business Member Was Recently Published in the USA-Based Universal Journal of Accounting and Finance

A peer-reviewed research paper titled "A Conceptual Framework to Assess the Potential Application of AI for Financial Reporting" by Ramesh Saxena, a faculty member of the Bachelor of Commerce Accounting Degree Program, has been recently published in the USA-based Universal Journal of Accounting and Finance.

This study assesses AI's financial reporting capability (AI). Financial reporting requires data processing, accounting computations, and expert judgments. AI isn't there yet. AI's ability to mimic human intelligence, emotion, and brain function is questioned. Current accounting regulations can't accommodate AI reports, producing economic inequality. AI in financial reporting raises ethical considerations. These are technological and intrinsic moral dilemmas. The existing applications of AI in individual accounting processes took time and money, and, hence, its replication to other tasks is not supported.

Future AI uses in financial reporting will depend on trust and control among stakeholders, not the technology. AI systems have a lot of potential for mundane tasks, but financial reporting will take longer. This study acknowledges that this area is unexplored and needs a conceptual framework. This paper provides a conceptual framework future researchers can use as-is or modify to handle AI financial reporting. The paper asks for applied research to offer new perspectives and alternative views. The proposed conceptual framework may help.

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