Impact of Robotic Process Automation on Accounting

Abstract

Purpose: The fundamental intent of this study is to investigate application of Artificial Intelligence (AI) with Robotic Process Automation (RPA) under the lens of Technological and Environmental factor of Technology-Organization-Environment TOE Theory. This study aims to address the knowledge gap in the Accounting and Technology Literature in 4IR of emerging technologies such as RPA and Generative Artificial Intelligence. Design/Methodology/Approach : The Research Design entailed a detailed systematic analysis of 300 quality articles from ABDC journals, Scopus, Elsevier and other reputed authors from different search engines including IEEE, EBSCO, PROQUEST and Google scholar to gather existing knowledge on RPA Adoption in Accounting. Design science Research Method (DSRM) has been carried out for literature review in this research. Out of 300 over 100 Articles were from ABDC and top reputed Accounting Journals. A total of 453 responses were gathered from survey questionnaire based out of the Literature review and analysed in ADANCO 2.3 statistical tool, hence variance-based SEM was the data analysis approach adopted. Findings: The findings validate the significant impact of Technological factors and Organizational Factors for application of GAI, AI and RPA in Financial Accounting. The technological and environmental factors have significant to highly significant impact on Application based on the SEM analysis. Originality/ Value: This study findings highlights the technological and environmental factors with significant impact on application of AI and RPA for Accounting functions and adds to the Body of Accounting Literature as a first paper to provide validated framework for GAI, AI and RPA integration in Financial Accounting.