The Impact of New Technology on Ethics in Accounting: Opportunities, Threats, and Ethical Concerns

This study explores the advantages of using technology, specifically artificial intelligence, big data analytics and blockchain, in the accounting. AI helps to process massive amounts of data by accelerating automation, thus operating time can be shortened and the quality and relevance of accounting information can be improved at the same time. It is also expected to facilitate full transaction (as opposed to only sample transaction) audit and continuous audit (audit on demand). By using blockchain technology, a better internal control system can be built, data manipulation becomes improbable, and consequently, accounting transparency will be improved. In addition, unethical human behavior such as moral hazard, slack, and pseudo-participation could be minimized, if not eliminated. However, there are also threats that may arise from the adoption of new technology such as technological unemployment and loss of data privacy. Other issues may also arise concerning technology-driven judgements that vary depending on situations, specifically in determining who is responsible for the consequences. To overcome these ethical issues, I recommend that a code of ethics be clearly defined, advanced software devices be developed considering such code, and a review process be conducted by human beings. I also suggest more involvement by human beings in three key areas to uphold ethical accounting standards: decision-making, accountability, and education. This study will help search for ways to benefit from technology while simultaneously addressing related ethical issues in the accounting.