Ethical Implications of AI Essay - Management Assignment Help

Assignment Task

Task

Assessing the ethical implications of Digital Technology in business.

This research essay is based on the academic article-The Ethical Implications of Using Artificial Intelligence in Auditing by Munoko et al, 2020 in the Journal of Business Ethics. The article is available through the link below.

Munoko and co-authors write about the ethical implications of the increasing use of Artificial Intelligence (AI) in carrying out routine audit tasks which were previously carried out by human auditors. They suggest that the rapid and increasing use of digital technologies such as AI is a high-risk activity as the significant impact of uncertainties related to the technology is not fully known. In fact, they argue that ethical issues related to the use of digital technology will only become known fully after the technology has been in use for awhile. AI uses algorithms to program and carry out cognitive tasks previously conducted by humans and this programming is based on assumptions which can be faulty and lead to errors and other major adverse impacts. In addition, the implementation of AI may obscure changes in procedure which lead to adverse outcome. 

AI is used to perform traditional procedures in auditing and accounting such as review of general ledgers, tax compliance, preparation of work papers, expense compliance, data analytics and visualisation and fraud detection. The use of AI for this work is governed by many assumptions such as the accuracy of work performed by AI, AI behaviour will remain within established constraints and any divergence or incorrect work will be picked up by humans and rectified. However, these assumptions may not always hold. Therefore, Munoko et al investigate the potential ethical issues that the audit profession should consider as they adopt AI technologies. They also examine other issues such as the ethical governance of AI within auditing firms, how AI is changing the social practice of auditing, how auditing is carried out by humans and AI, and how the use of AI impacts on the professional responsibilities of auditors. They draw on two established and emerging AI ethical frameworks to carry out this investigation. They broadly conclude that AI and related digital technologies have an important and growing role to play alongside humans in audit work. However, they argue that the profession of auditing and all key stakeholders need to agree, design and implement practical guidance for the governance and use of these technologies to prevent ethical, legal and financial issues arising that adversely impact audit firms, clients and the general public.

Deliverable:

Individual research essay on the ethical implications of AI in the business of auditing. Your essay should consider:

• Whether the risks raised by Munoko et al 2020 in relation to the use of AI in the field of auditing are valid.
• Whether the approach/es Munoko et al 2020 propose to address the risks of AI in auditing are appropriate.
• Whether there are other risks regarding the implementation of AI in the field of auditing that Munoko et al 2020 did not address in their article, and if so, how should we address these risks?
• Whether there are any other frameworks that may be more suitable to assessing/addressing the risk of AI in auditing.
• Whether the risks posed by AI in the field of auditing are specific to auditing, or whether the risks are similar to other business areas/sectors.

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