Aligning Artificial Intelligence in Enhancing the Effectiveness of Emotional Intelligence in Accounting and Audit Professionals

<span>Financial misrepresentation can be occurred from errors which are either intentional or unintentional. Artificial intelligence can be applied in assisting accounting professionals to get rid of errors. Moreover, to prevent the misrepresentation from intentional errors, audit professionals are required to play key role. In order to enhance the effectiveness and efficiency of the audit team members for detecting fraudulent misrepresentation, cogent emotional intelligence is instrumental. It also helps both the accounting and audit professionals to be morally more interactive. The prime objective of this chapter is to establish a tri-pronged interrelation among emotional intelligence, financial reporting oriented professional competence, and artificial intelligence. Based on the Primary data collected from 150 practitioners of globally affiliated audit institutions, this chapter has discussed and analyzed how development in emotional intelligence can enhance the efficiency of audit professionals in detecting fraudulent misrepresentations in financial statements. In addition to that, latest application of artificial intelligence in accountancy and auditing has also been discussed. The mechanism of aligning emotional intelligence of accountancy or audit farms with artificial intelligence has also been conferred. At the end of the chapter, probable future alignments of artificial intelligence with the accountancy and auditing profession for assuring faithful representation and fair exposition of accounting information, have been suggested with necessary policy implications for the concerned authority.</span>