- International Conference on Finance, Accounting and Auditing (ICFAA 2018) November 23 rd , 2018. - Artificial Intelligence in Accounting and Auditing: Some Solutions for Vietnam. - The rapid development of artificial intelligence in the fourth industrial revolution has challenged the whole society, especially in accounting and auditing fields. - This paper introduces the present situation of the application of artificial intelligence in the field of accounting and audit services. - After that, it provides some suggestions for accounting and auditing fields in the context of Vietnam.. - The fourth industrial revolution is occurring which is enabling businesses to operate in significantly different ways. - In which, the concept of artificial intelligence (AI) is directly related to accounting and auditing fields. - It is not a new concept, it can be traced back from 1936, when Alan Turing first suggested the idea of the Touring Machine which was the basis for theories about computers. - With the development of computers and program in the mid-20th century, artificial intelligence is officially supported. - In other words, artificial intelligence is a computer system that can transform human wisdom into productive forces by means of technology (Razi and Madani, 2013) Through the application of artificial intelligence, the user can break the traditional information transmission process due to the transmission speed, cost and quality of a series of bottlenecks between the problems.. - Therefore, AI can transform and disrupt all the sectors of the economy from technology to finance, communications, energy, healthcare or manufacturing, etc.. - The role of accountants is to apply their knowledge about accounting and finance to help business and stakeholders make better decisions. - In the future, AI can be applied better such as: in managerial accounting, big data will vastly improve effective management control systems and budgeting processes. - Along with accounting session, artificial intelligence also apply to audit industry to improving the quality and efficiency of the audit. - The artificial intelligence system automatically based on the auditor's prior requirements and the relevant knowledge stored in the system database. - It divides several steps of reasoning and judgment, and examines the accounting data and other relevant information of the audited entity. - Artificial intelligence system enables auditors to quickly calculate and make decisions on audit projects, maximize the production benefits of audit services and reduce audit risk. - It helps data to be stored and shared in the cloud, which also requires the cyber security capability in the audits. - In the future, artificial intelligence will improve significantly in audit industry. - Challenge of Vietnam accounting and auditing market in the fourth industrial revolution. - According to experts in the field of accounting and auditing, the Industrial Revolution 4.0 is accompanied by the vigorous development of information technology and artificial intelligence, so auditor audiences also become more complicated. - This requires the audit company and the auditors to renew and upgrade themselves to meet new requirements in the performance of their duties. - In Vietnam, the State Audit mainly audits on papers, however, the Industrial Revolution 4.0 will make the paper documents are no longer available. - This allows a freedom to be able to work outside of the office without having to make sure they have all of the binders with them, which makes it easier for the auditors. - The good news is that in the Law on Accounting 2015 of the National Assembly and the Government's Decree No.. - 174/2016 / ND-CP dated detailing a number of articles of the Law on Accounting has related provisions about Accounting documents stored on electronic media (electronic documents, electronic invoices. - This is also the basic requirement for accounting and auditing during the Industrial Revolution 4.0.. - At the same time, the quality of IT infrastructure across the accounting and auditing industry generally does not meet the requirements, especially on network security.. - The Industrial Revolution 4.0 requires government to better prepare their IT infrastructure to keep up with the technology. - Accountants and auditors must also improve their IT skills to meet the requirements of the jobs. - In the field of auditing, auditing activities in general and the State Audit of Vietnam in particular perform the function of checking, assessing and certifying the reliability of economic and financial information processed by accountants. - As a result, changes in procedures, procedures for handling and analyzing information as well as the presenting information in the financial report in the context of the Industrial Revolution 4.0 also require the State Audit to innovate the audit process as well as the use of audit methods.. - Secondly, effective and appropriate methods of auditing should be studied and applied in the context of the impact of the Industrial Revolution 4.0. - Specifically, methods of collecting, evaluating audit evidence, technical analysis methods in the context of accounting profession using electronic voucher, blockchain technology, cloud computing should be developed.. - Thirdly, business ensure safety in the management of network security. - The Industrial Revolution 4.0 has pushed up the level of information sharing, thus creating a huge need for cybersecurity. - The accounting and auditing authorities should pay special attention to building a data center. - upgrade high and multi layer security system, ensure the expansion of the scope of activities is stable and safe.. - The competition for high quality human resources in the accounting and auditing sector will be more drastic because at that time the demand for human resources is not only about comprehensive knowledge but also the level of using technology at a very high level.. - Requirements from the integration and the Industrial Revolution 4.0 require that the programs, content and methods of training bachelor's degree in accounting and auditing at the universities must have an innovation. - It is necessary to continue to improve the quality of the curriculum with the knowledge that is associated with the development trend of the Industrial Revolution 4.0.. - Universities need to apply virtual accounting and audit model to simulate and practice skills for students. - When software, electronic vouchers, electronic signatures, calculations have been programmed and automated, the traditional accounting and auditing teaching methods according will be abandoned.. - A Salary Guide Foresees a Cheery Future for Accounting and Finance Professionals.. - “Auditors’ perceptions of the impact of continuous auditing on the quality of Internet reported financial information in Egypt”, Managerial Auditing Journal
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