NLP And IR Applications For Financial Reporting And Non-Financial Disclosure. Framework Implementation And Roadmap For Feasible Integration With The Accounting Process

Alessio Faccia, Pythagoras Petratos

Research output: Chapter in Book/Report/Conference proceedingConference proceedingpeer-review

1 Citation (Scopus)

Abstract

Corporations produce financial and non-financial reports containing structured and unstructured data. In general, all organisations report information of some kind. Natural Language Processing (NLP) and Information Retrieval (IR) were fields developed from approximately the 1950s and have presented important applications, especially in the last three decades. Nevertheless, applications in accounting and finance have not developed accordingly, and a comprehensive framework is missing in the existing literature. This paper examines how NLP and IR can facilitate reporting and disclosure, both Financial and Non-Financial. The paper provides a brief literature review on NLP/IR applications in accounting and finance. It better informs and expands on the discussion of NLP/IR applications in academic research, professional organisations (i.e., IFRS), and industry. It explores some innovative applications of NLP/IR in unstructured data and its use in reporting and disclosure and FinTech applications. The main contribution is the definition of a complete framework that consistently analyses the possible NLP/IR applications in the accounting processes. We find that there can be many more applications of NLP/IR in accounting and finance and suggest future directions for research.

Original languageEnglish
Title of host publicationProceedings of the 2022 6th International Conference on Natural Language Processing and Information Retrieval
PublisherAssociation for Computing Machinery (ACM)
Pages117-124
Number of pages8
ISBN (Electronic)9781450397629
DOIs
Publication statusPublished - 16 Dec 2022
Event2022 6th International Conference on Natural Language Processing and Information Retrieval - Bangkok, Thailand
Duration: 16 Dec 202218 Dec 2022
http://www.nlpir.net/2022.html

Conference

Conference2022 6th International Conference on Natural Language Processing and Information Retrieval
Abbreviated titleNLPIR 2022
Country/TerritoryThailand
CityBangkok
Period16/12/2218/12/22
Internet address

Bibliographical note

Permission to make digital or hard copies of all or part of this work for personal or classroom use is granted without fee provided that copies are not made or distributed for profit or commercial advantage and that copies bear this notice and the full citation on the first page. Copyrights for components of this work owned by others than the author(s) must be honored. Abstracting with credit is permitted. To copy otherwise, or republish, to post on servers or to redistribute to lists, requires prior specific permission and/or a fee. Request permissions from permissions@acm.org. NLPIR 2022, December 16–18, 2022, Bangkok, Thailand © 2022 Copyright held by the owner/author(s). Publication rights licensed to ACM. ACM ISBN 978-1-4503-9762-9/22/12

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