Guest Editors
· Jeremy Eng-Tuck Cheah, Nottingham Trent University (NTU)
· Douglas Cumming, Florida Atlantic University (FAU)
· Sofia Johan, Florida Atlantic University (FAU)
· Baozhong Yang, Georgia State University (GSU)
Deadline: 30 September 2025
Special Issue Information
Rationale
The Special Issue aims to bring scholars, practitioners, and policymakers together to discuss, debate and deconstruct all the cutting-edge issues and puzzles in finance and banking. It seeks to find financial solutions to diverse problems in the broader society with the help of technology. Artificial intelligence (AI) in accounting and finance is the next evolution in innovation, with the development in deep learning, machine learning, and generative AI. Building on the traditional accounting and finance philosophies and paradigms, we aim to craft and shape future accounting and finance research and practice agendas through the potential synergy between newer financial technology developments with classical positions to ensure sustainable and efficient economic growth.
Related Literature
Artificial Intelligence (AI) is the next evolution in financial innovation, but its historical development has been independent of accounting and finance applications. However, recent developments have transformed the global financial services industry (Buchanan, 2019). With drastic improvements in processor power and memory, machine learning algorithms, and big data, AI enables machines to mimic human cognitive functions. These capabilities include chatbots and robotic personal assistants, natural language processing and translation, and deep and machine learning for diagnostic, predictive and prescriptive purposes (ACCA, 2020). The rapid development of generative AI technologies has also significantly expanded these capabilities.
Weber (2023) contends that accountants must pose challenging questions about tasks where human abilities will likely maintain a long-term comparative edge over machine intelligence. Additionally, they should employ creative thinking to broaden the scope of their work. In finance, AI research directions have permeated into areas such as stock market, trading models, volatility forecasting, portfolio management, performance, risk and default valuation, cryptocurrencies, derivatives, credit risk in banks, investor sentiment analysis, and foreign exchange management (Bahoo, et al., 2023). The widespread use of machine intelligence complementing human intelligence seems to yield the highest possible synergistic effects.
To enhance business competitiveness, the most effective strategy involves merging the computational strength of AI with the human ability to interpret nuanced information, thereby producing highly accurate forecasts (Cao et al., 2024a). Fintech can improve financial reporting verification efficiency while preserving privacy (Cao et al., 2024b). However, the use of AI can lead to ethical considerations. One example is the risk arising from decisions based on AI analytics insights (ACCA, 2020). How would these ethical risks influence managerial accountants’ behaviours, and how should we mitigate the risk arising data manipulation and privacy concerns? Other ethical risks could include data security, misuse, and accountability (Zhang et al., 2023).
Special Issue
The Special Issue welcomes novel research on a wide range of topics related to the role of AI in accounting and finance research. The SI accepts both quantitative as well as qualitative research methods with specific applications to accounting and finance research and practice.
This SI will be managed by Associate Professor Jeremy Cheah, Professor Douglas Cumming, Associate Professor Sofia Johan and Professor Baozhong Yang. Together, we aim to bring scholars, practitioners and policymakers from accounting, finance, economics, and related fields to foster the development of accounting and finance research by incorporating recent developments in AI with a specialised focus on how AI can improve accounting and finance research and the principles governing its use and implications to broader economy and society.
Possible topics for this special issue include, but are not limited to:
· Using AI to detect corporate fraud, scandals, and compliance; this includes AI regulation and policy-making issues underpinning financial technology and its impact in the broader economy and society. How will it help or replace auditors?
· Ethical considerations in using AI applications in accounting and finance (including in accounting and finance education).
· Using AI in providing financial solutions – portfolio management and investment decision-making; personal finance and financial planning.
· AI and management and financial accounting practices – how AI helps improve internal corporate decision-making and financial reporting.
· Improved financial services such as chatbots, robo-advisory services, data mining, data and business analytics, and algorithmic trading in banking and other financial institutions to improve the quality of services and financial inclusion, especially given the availability and development of generative AI.
· Comparison of methods and techniques, for example, between AI and financial econometrics. This includes techniques such as neural networks, support vector machines, and random forests, as utilized in financial forecasting and analysis.
· Exploiting AI's predictive and analytical powers – from textual analyses to understanding individual decision-making behaviours to predicting major events such as financial collapse.
· Illustrating AI's beneficial and/or detrimental effects on specific firms and industries. The adoption of AI can potentially increase or decrease competition, with implications for industrial organization and social welfare. Furthermore, misuse of AI in issues such as cyber-theft, cyber-security, and cyber-litigation can result in financial and economic losses and challenges in data governance.
Key Dates
The submission deadline to the SI is 30 September 2025 on the British Accounting Review journal submission page
Bibliography
ACCA (2020). Analytics in Finance and Accountancy. Chartered Accountants Australia and New Zealand (https://www.accaglobal.com/content/dam/ACCA_Global/professional-insights/aifaa/CliveWebb.PI-ANALYTICS-FINANCE-ACCOUNTANCY.pdf). Accessed 18 May 2024.
Bahoo, S., Cucculelli, M., Goga, X. and Mondolo, J. 2023. Artificial intelligence in finance: A comprehensive review through bibliometric and content analysis. SN Business and Economics, 4 (23). (https://doi.org/10.1007/s43546-023-00618-x). Accessed 19 May 2024.
Buchanan, B. 2019. Artificial Intelligence in Finance. The Alan Turing Institute (https://www.turing.ac.uk/sites/default/files/2019-04/artificial_intelligence_in_finance_-_turing_report_0.pdf). Accessed 17 May 2024.
Cao, S., Jiang, W., Wang, J. and Yang, B., 2024a. From man vs. machine to man+ machine: The art and AI of stock analyses. Journal of Financial Economics, 160, p.103910.
https://doi.org/10.1016/j.jfineco.2024.103910 Accessed 26 September 2024.
Cao, S., Cong, L.W., Yang, B. 2024b. Distributed Ledgers and Secure Multi-Party Computation for Financial Reporting and Auditing. Management Science, forthcoming. https://doi.org/10.1287/mnsc.2023.02577 Accessed 26 September 2024.
Ke, B. (2024). Accounting research for the digital age. British Accounting Review. https://doi.org/10.1016/j.bar.2024.101443. Accessed 26 September 2024.
Moll, J. and Yigitbasioglu, O. (2019). The role of internet-related technologies in shaping the work of accountants: New directions for accounting research. British Accounting Review. 51(6). https://doi.org/10.1016/j.bar.2019.04.002. Accessed 26 September 2024.
Rautiainen, A., Scapens, R., Jarvenpaa, M, Auvinen, T. and Sajasalo, P. (2024). Towards fluid role identity of management accountants: A case study of a Finnish bank. British Accounting Review. 56(4). https://doi.org/10.1016/j.bar.2024.101341. Accessed 26 September 2024
Weber, R. 2023. Some prognostications: Artificial intelligence and accounting. Australian Accounting Review. 104(33), pp. 110-113
Zhang, C., Zhu, W., Dai, J., Wu, Y. and Chen, X. 2023. Ethical impact of artificial intelligence in managerial accounting. International Journal of Accounting Information Systems, 49. https://doi.org/10.1016/j.accinf.2023.100619. Accessed 19 May 2024.