Adapting to the Times: Skill and Ethical Considerations for Future Accountants in a Generative Artificial Intelligence World

ABSTRACT

We examine how, when accounting students and professionals use Generative AI (GenAI), their self-regulated learning (SRL) behaviors differ in the areas of planning and goal setting, monitoring and control, metacognitive awareness, resource management, reflection and evaluation, and ethical considerations. We used a scenario-based design to conduct two studies to examine accounting students’ and professionals’ interactions with GenAI. In the first (second) study, accounting students (audit and finance professionals) were tasked to use GenAI in tackling various scenarios. We found that students showed varying levels of strategic planning capabilities, whereas practitioners demonstrated more sophisticated and iterative refinements, and context-specific adaptations. Synthesizing our findings, we recommend a framework that emphasizes a systematic verification process, ethical awareness, as well as a balanced development of both technical and soft skills. Overall, these insights are aimed at providing curricular adaptations that enhance students’ SRL efficacy and integrity with GenAI tools, while maintaining practical relevance.

Data Availability: Please contact the authors.

JEL Classifications: M41; M53.