THE IMPACT OF ARTIFICIAL INTELLIGENCE ON FIDUCIARY ACCOUNTING PRACTICES
Abstract: Artificial intelligence (AI) is transforming fiduciary accounting practices, offering new tools for efficiency and accuracy. This study aims to (1) explore the impact of AI on fiduciary accounting, (2) evaluate the benefits and challenges of AI integration, and (3) identify best practices for leveraging AI in fiduciary accounting. A survey research design was selected to gather insights from fiduciary accountants on their experiences with AI technologies. The sample size, calculated using Taro Yamane’s formula, includes 250 fiduciary accountants, ensuring a representative dataset with a 95% confidence level and a 5% margin of error. The case study focuses on a fintech company in Lagos, at the forefront of AI adoption in fiduciary accounting. The reliability coefficient score for the survey was 0.90, indicating excellent reliability. Findings indicate that AI significantly enhances the accuracy and efficiency of fiduciary accounting processes, but also poses challenges such as the need for technical expertise and potential job displacement. The study recommends that fiduciary accounting firms invest in AI training programs and develop ethical guidelines for AI use to maximize its benefits while mitigating risks.
ABSTRACT
This study was undertaken to assess the merits associated with police reformation and its impl...
ABSTRACT
This study analyzes military rule and the political transition to democracy in Nigeria. It enquires into how military intervenes...
ABSTRACT: This study examines the impact of apprenticeship programs on vocational skill retention, focusing on their role in enhancing practic...
Background of the study
Grassroots campaign strategies play a pivotal role in determining the success of...
Hypertension remains a major public health concern in Nigeria, contributing t...
Background of the study
Mentorship programs have emerged as vital initiatives to support the continuous professional develo...
Background of the Study
Development grants are crucial for funding projects aimed at improving social i...
Background of the Study
Chemotherapy-induced hair loss (alopecia) is a common and distressing side effect of cancer treatment. Oncology n...
Background of the Study
Internet connectivity is a cornerstone of effective online education, particularly in higher learn...
Background of the Study
Geriatric nursing is a specialized field that focuses on the c...