ARTIFICIAL INTELLIGENCE AND FINANCIAL REPORTING QUALITY OF THE BIG FOUR AUDITING FIRMS IN LAGOS STATE.
Abstract
The rising complexity of financial processing and demand for an accurate report have stimulated audit firms to explore more advanced technology for improved outcomes. The deployment of technology in financial institutions have continued to attract attention; little have been done on artificial intelligence. This study investigated the effect of Artificial Intelligence on the Financial Reporting Quality, with a view to examining the effects on Understandability (UA), Comparability (CA) and Faithful Representation (FR). This study adopted survey research design. Simple random technique and Taro Yamane was used to select 360 respondents from a population of 3606 employees of the big four auditing firms in Lagos state, Price water Corporation (PwC), KPMG Deloitte and Ernst and young (EY) as at 2024. Data were collected using questionnaire. 360 (100.0%) responses were retrieved and subjected to analysis, using the descriptive statistics, correlation matrix and regression analysis. The result of the findings revealed that artificial intelligence had significant effect on UA (Adj. R2 = 0.317, F = 20.010, P = 0.000
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