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automation
and 
artificial intelligence systems
(collectively known as intelligent 
systems) is that they harness the ability of computers to learn, make decisions and perform actions 
based on those decisions. They enable, for example, transactions to be processed without input from 
humans and for humans to be assisted in making decisions, such as whether to extend credit to 
customers. 
Industries such as manufacturing, transport, and technology have used such systems for some time 
(such as the use of robots in car manufacturing). However, systems are increasingly being developed for 
use in 
professional services
, including accountancy and audit. 
EXAMPLE 
An example of the use of automation and artificial intelligence in accountancy is in the recording of 
transactions in financial systems. Accounting software can automatically download transactions from an 
organisation’s online bank account. Once this has been done, the system’s artificial intelligence can 
assign transactions to appropriate nominal codes and record the transactions appropriately in the 
accounts. This intelligence is achieved by the user recording the transactions manually a few times 
before the system learns what types of transactions should be assigned to which nominal codes. 
For the auditor, systems are available that perform complete checks on financial data held, allowing 
100% of transactions to be audited automatically on a continuous basis, removing the need for an 
auditor to perform routine audit checks to verify transactions. 
 
Such developments mean that the role of the accountant and auditor is changing from recording and 
verifying low-level transactions to higher-level activities such as producing and analysing reports. This 
increases the effectiveness of accountants because they can spend less time on simple, routine tasks 
and more on value-adding services, making better use of the professional knowledge and skills that they 
have.
 
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