journal article Open Access Nov 20, 2022

Emerging Technologies’ Contribution to the Digital Transformation in Accountancy Firms

Electronics Vol. 11 No. 22 pp. 3818 · MDPI AG
View at Publisher Save 10.3390/electronics11223818
Abstract
Digitalization becomes a key strategy for the success of businesses, which in today’s critical times, are under remarkable pressures and diffused uncertainty. The rapid pace of digitization is forcing deep changes in the modus operandi of organizations. This phenomenon is even more so true for accounting organizations considering that, by implementing blockchain, RPA, cloud, big data, cybersecurity, and AI, accountants might have the most digitized workplace of all. The purpose of this paper is to explore how these emergent technologies are contributing to the digital transformation of accounting firms. Based on a qualitative approach, the methodology consists of a thematic analysis of the academic literature to reveal the synergic effect of the most disruptive emergent technologies for accountancy firms. In addition to the topic of research, the originality of this study is ensured by the fact that it presents both technical and conceptual information, easily digestible for academicians and practitioners skilled in the ICT field, or not. The paper is intended to be a building brick for the literature related to this topic.
Topics

No keywords indexed for this article. Browse by subject →

References
111
[1]
Agrifoglio "New Ways of Working through Emerging Technologies: A Meta-Synthesis of the Adoption of Blockchain in the Accountancy Domain" J. Theor. Appl. Electron. Commer. Res. (2022) 10.3390/jtaer17020043
[2]
Bhimani "Digitisation, ‘Big Data’ and the Transformation of Accounting Information" Account. Bus. Res. (2014) 10.1080/00014788.2014.910051
[3]
Braccini, A., and Margherita, E. (2018). Exploring Organizational Sustainability of Industry 4.0 under the Triple Bottom Line: The Case of a Manufacturing Company. Sustainability, 11. 10.3390/su11010036
[4]
Schwab, K. (2017). The Fourth Industrial Revolution: What It Means, How to Respond, Crown Publishing Group.
[5]
Savastano, M., Amendola, C., Bellini, F., and D’Ascenzo, F. (2019). Contextual Impacts on Industrial Processes Brought by the Digital Transformation of Manufacturing: A Systematic Review. Sustainability, 11. 10.3390/su11030891
[6]
Dima "Adopting Sustainability and Digital Transformation in Business in Romania: A Multifaceted Approach in the Context of the Just Transition" Amfiteatru Econ. (2022) 10.24818/ea/2022/59/28
[7]
Tiron-Tudor, A., and Deliu, D. (2021). Big Data’s Disruptive Effect on Job Profiles: Management Accountants’ Case Study. J. Risk Financ. Manag., 14. 10.3390/jrfm14080376
[8]
Deliu "Managing Change with and through Blockchain in Accountancy Organizations: A Systematic Literature Review" J. Organ. Chang. Manag. (2021) 10.1108/jocm-10-2020-0302
[9]
"Impact of Technology in Financial Reporting: The Case of Amazon Go" J. Corp. Account. Financ. (2019) 10.1002/jcaf.22394
[10]
Zhang "Intelligent Process Automation in Audit" J. Emerg. Technol. Account. (2019) 10.2308/jeta-52653
[11]
Lehner "A Profession in Transition: Actors, Tasks and Roles in AI-Based Accounting" J. Appl. Account. Res. (2021) 10.1108/jaar-10-2020-0201
[12]
Cong "Technological Disruption in Accounting and Auditing" J. Emerg. Technol. Account. (2018) 10.2308/jeta-10640
[13]
Qasim "Blockchain Technology, Business Data Analytics, and Artificial Intelligence: Use in the Accounting Profession and Ideas for Inclusion into the Accounting Curriculum" J. Emerg. Technol. Account. (2020) 10.2308/jeta-52649
[14]
Zhang "The Impact of Disruptive Technologies on Accounting and Auditing Education. How Should the Profession Adapt?" CPA J. (2018)
[15]
Damerji "Mediating Effect of Use Perceptions on Technology Readiness and Adoption of Artificial Intelligence in Accounting" Account. Educ. (2021) 10.1080/09639284.2021.1872035
[16]
Pimentel "Blockchain in Accounting Research and Practice: Current Trends and Future Opportunities" Account. Perspect. (2020) 10.1111/1911-3838.12239
[17]
Moll "The Role of Internet-Related Technologies in Shaping the Work of Accountants: New Directions for Accounting Research" Br. Account. Rev. (2019) 10.1016/j.bar.2019.04.002
[18]
Kroon, N., Alves, M.D.C., and Martins, I. (2021). The Impacts of Emerging Technologies on Accountants’ Role and Skills: Connecting to Open Innovation—A Systematic Literature Review. J. Open Innov. Technol. Mark. Complex., 7. 10.3390/joitmc7030163
[19]
Demonstrating Rigor Using Thematic Analysis: A Hybrid Approach of Inductive and Deductive Coding and Theme Development

Jennifer Fereday, Eimear Muir-Cochrane

International Journal of Qualitative Methods 2006 10.1177/160940690600500107
[20]
Kiger "Thematic Analysis of Qualitative Data: AMEE Guide No. 131" Med. Teach. (2020) 10.1080/0142159x.2020.1755030
[21]
Thorne "Data Analysis in Qualitative Research" Evid. Based Nurs. (2000) 10.1136/ebn.3.3.68
[22]
Tuckett "Applying Thematic Analysis Theory to Practice: A Researcher’s Experience" Contemp. Nurse (2005) 10.5172/conu.19.1-2.75
[23]
Bartolacci "Sustainability and Financial Performance of Small and Medium Sized Enterprises: A Bibliometric and Systematic Literature Review" Bus. Strat. Environ. (2020) 10.1002/bse.2434
[24]
Chawla "Emerging Trends in Digital Transformation: A Bibliometric Analysis" Benchmarking Int. J. (2022) 10.1108/bij-01-2021-0009
[25]
Cricelli, L., and Strazzullo, S. (2021). The Economic Aspect of Digital Sustainability: A Systematic Review. Sustainability, 13. 10.3390/su13158241
[26]
Pizzi "Management Research and the UN Sustainable Development Goals (SDGs): A Bibliometric Investigation and Systematic Review" J. Clean. Prod. (2020) 10.1016/j.jclepro.2020.124033
[27]
Aria "Bibliometrix: An R-Tool for Comprehensive Science Mapping Analysis" J. Informetr. (2017) 10.1016/j.joi.2017.08.007
[28]
Yigitbasioglu "External Auditors’ Perceptions of Cloud Computing Adoption in Australia" Int. J. Account. Inf. Syst. (2015) 10.1016/j.accinf.2015.09.001
[29]
Ahmad "A Systematic Review of the Role of Big Data Analytics in Reducing the Influence of Cognitive Errors on the Audit Judgement" Rev. Contab. (2019) 10.6018/rcsar.382251
[30]
Gepp "Big Data Techniques in Auditing Research and Practice: Current Trends and Future Opportunities" J. Account. Lit. (2018) 10.1016/j.acclit.2017.05.003
[31]
Issa "Behavioral Implications of Big Data’s Impact on Audit Judgment and Decision Making and Future Research Directions" Account. Horiz. (2015) 10.2308/acch-51023
[32]
Ferri "Ascertaining Auditors’ Intentions to Use Blockchain Technology: Evidence from the Big 4 Accountancy Firms in Italy" Meditari Account. Res. (2020) 10.1108/medar-03-2020-0829
[33]
Cleary "Intellectual Capital and Business Performance: An Exploratory Study of the Impact of Cloud-Based Accounting and Finance Infrastructure" J. Intellect. Cap. (2016) 10.1108/jic-06-2015-0058
[34]
Munoko "The Ethical Implications of Using Artificial Intelligence in Auditing" J. Bus. Ethics (2020) 10.1007/s10551-019-04407-1
[35]
Islam "Factors Associated with Security/Cybersecurity Audit by Internal Audit Function: An International Study" Manag. Audit. J. (2018) 10.1108/maj-07-2017-1595
[36]
Austin "The Data Analytics Journey: Interactions Among Auditors, Managers, Regulation, and Technology *" Contemp. Account. Res. (2021) 10.1111/1911-3846.12680
[37]
Yigitbasioglu "Cloud Accounting Risks and Mitigation Strategies: Evidence from Australia" Account. Forum (2020) 10.1080/01559982.2020.1783047
[38]
Issa "Research Ideas for Artificial Intelligence in Auditing: The Formalization of Audit and Workforce Supplementation" J. Emerg. Technol. Account. (2016) 10.2308/jeta-10511
[39]
Lee "Usage and Impact of Artificial Intelligence on Accounting: 213 Evidence from Malaysian Organisations" Asian J. Bus. Account. (2020) 10.22452/ajba.vol13no1.8
[40]
Avelar "Artificial Intelligence to Support Management Accounting and Control Systems: An Analysis of App-Based Transportation Companies" SG J. (2021)
[41]
Losbichler "Limits of Artificial Intelligence in Controlling and the Ways Forward: A Call for Future Accounting Research" J. Appl. Account. Res. (2021) 10.1108/jaar-10-2020-0207
[42]
Kokina "The Emergence of Artificial Intelligence: How Automation Is Changing Auditing" J. Emerg. Technol. Account. (2017) 10.2308/jeta-51730
[43]
Hu "CPA Firm’s Cloud Auditing Provider for Performance Evaluation and Improvement: An Empirical Case of China" Technol. Econ. Dev. Econ. (2018) 10.3846/tede.2018.6619
[44]
"Artificial Intelligence in Accounting: GAAP’s “FAS133”" J. Corp. Account. Financ. (2020) 10.1002/jcaf.22407
[45]
Schmitz "Accounting and Auditing at the Time of Blockchain Technology: A Research Agenda" Aust. Account. Rev. (2019) 10.1111/auar.12286
[46]
White "Blockchain Security Risk Assessment and the Auditor" J. Corp. Account. Financ. (2020) 10.1002/jcaf.22433
[47]
"Configuring Blockchain Architectures for Transaction Information in Blockchain Consortiums: The Case of Accounting and Supply Chain Systems" Intell. Syst. Account. Financ. Manag. (2017) 10.1002/isaf.1417
[48]
Vincent "Blockchain Architecture: A Design That Helps CPA Firms Leverage the Technology" Int. J. Account. Inf. Syst. (2020) 10.1016/j.accinf.2020.100466
[49]
"Blockchain in Accounting: Trick or Treat?" Qual. Access Success (2019)
[50]
Gelashvili "Blockchain and Its Application to Accounting" Intang. Cap. (2021) 10.3926/ic.1522

Showing 50 of 111 references

Cited By
24
Technological Forecasting and Socia...
Related

You May Also Like

Machine Learning Interpretability: A Survey on Methods and Metrics

Diogo V. Carvalho, Eduardo M. Pereira · 2019

1,384 citations

The k-means Algorithm: A Comprehensive Survey and Performance Evaluation

Mohiuddin Ahmed, Raihan Seraj · 2020

1,342 citations

Sentiment Analysis Based on Deep Learning: A Comparative Study

Nhan Cach Dang, María N. Moreno-García · 2020

550 citations