The rapid development and penetration of Artificial Intelligence (AI) in the last few years in all areas of human activity, determines its essential role in the modernization of business processes in any organization. The financial reporting activity does not remain unaffected by these processes. It is transforming traditional accounting practices, resulting in the automation of routine tasks, reducing the risk of errors and improving overall efficiency. Despite the many undeniable benefits, the implementation of AI in accounting has not been seamless and the process faces numerous challenges related to ethical and legal issues, technological barriers, high initial costs, data protection, etc. The implementation of artificial intelligence will inevitably change the focus of the accounting profession, with accountants' functions shifting primarily to interpreting the results that are generated by AI and providing advisory services that will improve the reporting and planning process. This will automate core (routine) processes but will also improve the quality of financial services provided by accounting professionals.
Tsoncheva-Petkova et al. (2025) studied this question.