Journals Information
Universal Journal of Accounting and Finance Vol. 13(1), pp. 15 - 23
DOI: 10.13189/ujaf.2025.130102
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Unlocking the Efficiency of Artificial Intelligence in Financial Fraud Detection and its Integration into Audit Processes to Achieve Overall Audit Efficiency: A Comprehensive Analysis in Muscat, Oman
Gopalan Puthukulam , Anitha Ravikumar *
College of Economics and Business Administration, University of Technology and Applied Sciences, Sultanate of Oman
ABSTRACT
Accounting fraud is a manipulating act done by the compilers of the financial statements and their supervisors alike by which the fraudulent manipulated financial statements to manipulate the financial position of the company resulting in the maximization of profits and hiding the losses. This study is conducted to evaluate the effectiveness of AI-based tools in detecting financial fraud compared to traditional audit techniques and to investigate the potential benefits and challenges of integrating AI-based tools into the audit process for fraud detection. It also aims to assess the impact of AI-based tools on overall audit efficiency, identify areas where they can be most effective, and explore the attitudes and perceptions of auditors towards using AI-based tools for fraud detection and the factors that influence their adoption. The study's findings highlight the potential of AI-powered solutions in improving auditing methods. AI technology can help auditors discover financial fraud, enhance audit efficiency, and optimize resource allocation. It further shows that these technologies may considerably improve the efficacy of identifying financial fraud, improve overall audit efficiency, and minimize audit time and resources.
KEYWORDS
Artificial Intelligence, Accounting Fraud, Audit Processes, Detection, Efficiency, Benefits and Challenges
Cite This Paper in IEEE or APA Citation Styles
(a). IEEE Format:
[1] Gopalan Puthukulam , Anitha Ravikumar , "Unlocking the Efficiency of Artificial Intelligence in Financial Fraud Detection and its Integration into Audit Processes to Achieve Overall Audit Efficiency: A Comprehensive Analysis in Muscat, Oman," Universal Journal of Accounting and Finance, Vol. 13, No. 1, pp. 15 - 23, 2025. DOI: 10.13189/ujaf.2025.130102.
(b). APA Format:
Gopalan Puthukulam , Anitha Ravikumar (2025). Unlocking the Efficiency of Artificial Intelligence in Financial Fraud Detection and its Integration into Audit Processes to Achieve Overall Audit Efficiency: A Comprehensive Analysis in Muscat, Oman. Universal Journal of Accounting and Finance, 13(1), 15 - 23. DOI: 10.13189/ujaf.2025.130102.