3010: The Intersection of AI and Ethics in Accounting

In this episode of Tech Talks Daily, I sit down with Dr. Mfon Akpan, an expert in accounting and finance from Methodist University, to explore the rapidly evolving role of artificial intelligence in the accounting profession. As AI technologies continue to advance, they are increasingly outperforming humans in various domains, including those within the accounting sector. Dr. Akpan shares insights on how AI is reshaping workflows, boosting productivity, and introducing a new paradigm where AI-generated drafts are refined by human professionals—a process that is not only enhancing efficiency but also challenging traditional approaches. A significant focus of our discussion centers on the ethical considerations that accompany AI's integration into accounting. Dr. Akpan raises critical concerns about privacy, the need for transparency in disclosing AI usage to clients, and the potential for a digital divide created by unequal access to AI tools. As major accounting firms invest heavily in AI, the question of how to implement these technologies responsibly becomes ever more pressing. Dr. Akpan also delves into the impact of AI on education, emphasizing the importance of exposing students to these tools to ensure they are workforce-ready while also teaching them to navigate the ethical complexities that arise. Dr. Akpan's work, including his recent publication on aligning AI with ethical accountancy, introduces frameworks designed to ensure that AI adoption in the accounting profession remains aligned with the core values of trust and integrity. As we explore these themes, Dr. Akpan also reflects on the challenges facing educators, policymakers, and practitioners as they collaborate to keep pace with the rapid advancements in AI and ensure that ethical standards are upheld. Join us as we discuss the transformative potential of AI in accounting, the ethical challenges it presents, and the crucial role of lifelong learning in preparing the next generation of professionals for a future where AI plays an integral role in their work.