A scoping review of ChatGPT research in accounting and finance

This paper provides a review of recent publications and working papers on ChatGPT and related Large Language Models (LLMs) in accounting and finance. The aim is to understand the current state of research in these two areas and identify potential research opportunities for future inquiry. We identif...

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Bibliographic Details
Published in:International journal of accounting information systems 2024-12, Vol.55, p.100715, Article 100715
Main Authors: Dong, Mengming Michael, Stratopoulos, Theophanis C., Wang, Victor Xiaoqi
Format: Article
Language:English
Subjects:
AIS
Asset pricing
Audit
ChatGPT
Corporate finance
Financial reporting
Generative AI
LLMs
Tax
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Summary:This paper provides a review of recent publications and working papers on ChatGPT and related Large Language Models (LLMs) in accounting and finance. The aim is to understand the current state of research in these two areas and identify potential research opportunities for future inquiry. We identify three common themes from these earlier studies. The first theme focuses on applications of ChatGPT and LLMs in various fields of accounting and finance. The second theme utilizes ChatGPT and LLMs as a new research tool by leveraging their capabilities such as classification, summarization, and text generation. The third theme investigates implications of LLM adoption for accounting and finance professionals, as well as for various organizations and sectors. While these earlier studies provide valuable insights, they leave many important questions unanswered or partially addressed. We propose venues for further exploration and provide technical guidance for researchers seeking to employ ChatGPT and related LLMs as a tool for their research.
ISSN:1467-0895
DOI:10.1016/j.accinf.2024.100715