Open Access

Dennis SchlegelORCiD, David Roos, Patrick Kraus, Hannes Schubert

• Artificial intelligence (AI) is increasingly influencing accounting. While AI adoption in accounting is still in its early stages, it holds significant potential for transforming workflows. At the same time, its implementation presents various challenges. This paper aims to explore both the opportunities and challenges that AI presents within accounting. To do so, we conduct a multivocal literature review (MLR), systematically analyzing both academic and practitioner-oriented sources to capture the dynamic and rapidly evolving landscape of AI in accounting. Our findings highlight key benefits, including efficiency gains through automation, error reduction by minimizing human mistakes, enhanced decision support through data-driven insights, and cost reduction. However, we also identify several challenges, such as ethical and regulatory concerns, data quality and transparency issues, data security risks, and the need for organizational adaptation. This paper provides a comprehensive and up-to-date analysis of AI in accounting, contributing to a more nuanced understanding of its benefits and challenges.