Schreiber: AI will not diminish role of accountants and auditors

Artificial intelligence can improve the efficiency and quality of audit processes while enabling auditors to automate routine and repetitive operations, President of the Institute of Certified Public Accountants in Israel (ICPAI) Chen Schreiber said.

According to Report, Schreiber made the remarks at an event marking the 30th anniversary of the Chamber of Auditors of Azerbaijan and the international scientific-practical conference titled "Stages of Audit Development: The Path from Compliance to Strategic Partnership and Trust."

He said artificial intelligence is also capable of automating repetitive tasks, analyzing large volumes of financial data, and identifying unusual transactions and potential risks.

"However, there is one important point we must not forget. Although artificial intelligence can process information, it cannot assume professional responsibility. Technology cannot replace professional judgment, ethical principles, accountability and, most importantly, public trust in our profession," Schreiber said.

He added that he was therefore confident that artificial intelligence would not diminish the role of accountants and auditors. Instead, it would allow professionals to spend less time on routine daily processes and focus more on areas that genuinely require human expertise, including judgment, interpretation, strategic thinking, communication and leadership.

Schreiber said the development of artificial intelligence was also creating new responsibilities for professional organizations.

"We must ensure that our members are equipped with the knowledge and skills required in the age of artificial intelligence and strengthen international cooperation, because the technological transformation of our profession is not confined by national borders," he said.

Schreiber described the friendship and professional cooperation between the Chamber of Auditors of Azerbaijan and the Israeli institute as a clear example of such collaboration.

He said that by sharing knowledge, experience and best practices, the organizations could help their professionals navigate this transformation together.

"Technology will continue to change, but professional judgment, ethics, responsibility and trust will always remain," Schreiber said.