The effects of GenAI Use in the Audit Processon Audit Knowledge Development and CriticalThinking : A Qualitative Case Study on the Use of GenAI in a Big Four AuditFirm

Sammanfattning

Currently, using Generative AI (GenAI) in work and education is a part of daily life. However, people are still not fully mature about how to use AI properly. Specifically, in audit firms, auditors often use AI tools to enhance work speed and the knowledge development process. This study examines how generative artificial intelligence (GenAI) has begun to influence the work of junior auditors in a big four audit firm and to identify effects of these changes on auditors' knowledge development and critical thinking within the audit process. Based on an established audit process encompassing five phases (planning, risk assessment, audit strategy and planning, gathering evidence and finalisation), a qualitative case study is performed. Data were collected through semi-structured interviews with six junior auditors and by analysing internal company documentation. The study found that junior auditors mainly used GenAI as a support for and facilitator of their audit work. They used the technology as an efficiency tool, primarily during the evidence-gathering phase. More specific uses of GenAI were identified, including summarising of contracts, analysing financial data, reviewing documents, extracting information and aiding in the risk assessment process. GenAI contributes to an improved and faster development of knowledge among auditors due to increased access to information and easier handling of complex audit tasks. Furthermore, there are concerns and risks linked to an overdependence on GenAI tools, with decreased deep learning, reduced professional judgement and weakened knowledge retention identified as potential downsides. The study states that although GenAI supports junior auditors in performing audit tasks in an efficient manner, the tool cannot replace the professional judgement, critical thinking and professional skepticism of auditors. Additionally, junior auditors should exercise caution when it comes to GenAI use.