Harnessing the Power of Artificial Intelligence in the Accounting Industry: A Case Study of KPMG

Ranjith P V (CMS Business School, Jain (Deemed to be University))
Sahana Madan (CMS Business School, Jain (Deemed to be University))
Delon Ang Wern Jian (Sentral College Penang)
Kok Ban Teoh (Sentral College Penang)
Amisha Siddhu Singh (Vivekanand Education Society of Arts Science and Commerce)
Varsha Ganatra (Vivekanand Education Society of Arts Science and Commerce)
Akshay AV (CMS Business School, Jain (Deemed to be University))
Rajeev Rana (IMS Engineering College)
Abhijit Das (IMS Engineering College)
Shetty Lavanya Shekar (RV Institute of Management)
Padmalini Singh (RV Institute of Management)

International Journal of Accounting & Finance in Asia Pasific
Vol 4, No 2 (2021): International Journal of Accounting & Finance in Asia Pasific (IJAFAP) June 2021

In the ‘New Normal', the accounting industry is experiencing heavy pressure associated with artificial intelligence (AI). The purpose of this study is to examine the ways and how organizations are harnessing the power of artificial intelligence in the accounting industry through the lens of KPMG. There are 39 employees from the KPMG who responded through a structured questionnaire on Google Forms circulated among the employees of the company. The data collected were analyzed and presented in the table of numerical terms. The results showed there is a significant positive relationship between the adaptation of AI in the accounting tasks in KPMG company. The results of this study reflect upcoming AI practices that will be sent to the KPMG to enhance awareness and adopt artificial intelligence applications for better productivity. These findings can help the accountants in clearly understanding how they can use AI technology to improve the accounting standards.