Abstract

We note that the digital economy has begun to transform all economic sectors, and through modern technology, we see it playing a fundamental role in a variety of fields. Hence, we see that accounting and auditing are actively applying these modern technologies, such as machine learning and adaptive intelligence. Digital transformation and artificial intelligence have become an integral part of the daily work process. This research article analyzes the progress made in smart accounting and its applications in accounting in Iraq. The study identifies the challenges facing the use of digital transformation in accounting in Iraq, defines its main tasks in accounting and auditing, and highlights the main strategies for digital transformation in accounting. The study utilized a comprehensive analysis of several academic publications devoted to the issue under consideration. The essence of digital transformation was also examined, and the processes of digital transformation and artificial intelligence were analyzed. The study's results identified the main advantages, threats, and weaknesses of digital transformation and artificial intelligence in accounting. The main impact of implementing digital technologies and artificial intelligence in companies and institutions is to increase productivity and reduce costs, which in turn is reflected in the economic impact. Digital transformation in accounting and auditing appears promising, but it requires careful planning and operational management. Properly leveraging the benefits of digital transformation while minimizing risks can elevate accounting to a new level of advancement in this field.