Montenegro’s accounting and audit sector is beginning to introduce artificial intelligence into financial workflows, with AI tools being tested for process automation, data analysis and professional decision support. The 21st International Congress of Accountants and Auditors, held in Ulcinj, brought together more than 400 participants and included a presentation of the AI-ACC programme, developed with support from Montenegro’s Innovation Fund.
AI-ACC is designed to help accountants, auditors and tax advisers apply existing artificial intelligence tools to their professional activities. Accounting companies continue to devote significant working time to collecting documents, classifying transactions, reviewing records and preparing standardised reports. AI can assist with these initial processes, enabling professionals to concentrate on interpretation, tax planning, audit judgement and client advisory work.
For smaller accounting practices, the use of AI could affect how services are delivered. Firms that process more clients without increasing staffing at the same rate can improve margins, while companies purchasing accounting services may expect faster reporting and greater analytical support. The introduction of AI is also creating requirements for technology and internal controls. Accounting firms will need secure AI applications, workflow integration, employee training, data-protection controls and systems capable of processing confidential financial information.
Publicly available generic AI applications may not be suitable for sensitive payroll, tax and corporate data unless appropriate confidentiality and governance measures are in place. This could increase the use of dedicated or enterprise AI environments by professional firms. Auditing represents another area where AI can be applied to financial work. The technology can analyse large volumes of transactions, detect unusual patterns and identify areas for human review.
Final audit conclusions, however, remain dependent on professional judgement and supporting evidence. For Montenegro’s accounting profession, the use of AI is moving from a general technology issue into practical financial workflows. The changes include greater automation of information-processing tasks and increased emphasis on analysis, professional judgement and advisory services.
