Abstract:
Artificial Intelligence (AI) is transforming the accounting profession by enhancing efficiency, accuracy, and decision-making capabilities. This study investigates the preparedness for AI adoption in the Sri Lankan accounting sector, addressing socio-economic impacts, technological innovations, and barriers to AI readiness. Using a quantitative research design, data was collected from 251 accounting professionals through a structured online questionnaire. The survey captured demographics, service participation areas, and perceptions regarding AI adoption. Findings from the regression analysis reveal that socio-economic impacts significantly predict AI readiness. Technological innovations were not statistically significant. Barriers to AI adoption were close to significance. Policy implications include emphasizing the socio-economic benefits of AI, investing in supportive infrastructure, and providing targeted training. Policymakers should create incentives and resources to facilitate AI adoption and address legal, ethical, and commercial challenges. This study uniquely focuses on the Sri Lankan accounting sector, providing context-specific insights and recommendations for AI integration and contributing to the global discourse on digital transformation in accounting.
