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Publication
The Impact of Emerging Technologies in Accounting and Auditing
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Abstract(s)
This dissertation explores the adoption, impact, and challenges of emerging
technologies—namely Artificial Intelligence (AI), Blockchain, ML, and RPA—in the
financial auditing and accounting sector. With technological advances continually
redefining the professional landscape, this study aims to provide a comprehensive
understanding of how these technologies are being used, the benefits they
provide, and the obstacles faced by organizations in implementing them.
The research is guided by several key questions: What is the current level of
adoption of these technologies in financial audit and accounting services? What
are the main challenges and barriers that companies face during the adoption
process? What perceived benefits do these technologies bring in terms of
efficiency, scalability and cost reduction? Finally, how do adoption rates and the
benefits perceived according to the size of the companies and the roles played
within the organization? To answer these questions, a mixed-methods approach
was adopted, using a structured questionnaire distributed among professionals in
the financial audit and accounting sector. Descriptive statistical techniques,
including frequency distributions and cross-tabulations, were applied to analyze
the data collected from 29 respondents, providing insights into the extent of
technology adoption, perceived impacts, and variations in different organizational
contexts.
The results reveal that while technologies such as ML and AI have been widely
adopted due to their direct applications in data analysis and process automation,
others, such as Blockchain, have yet to achieve significant adoption, possibly due
to their perception as a niche technology or their early stage of development. The
results also highlight significant challenges, including a lack of expertise, high
costs, and regulatory compliance issues, which pose substantial barriers to wider
adoption. On the other hand, the perceived benefits, such as greater accuracy,
improved efficiency and better risk management, underline the transformative
potential of these technologies. This study adds to the existing body of knowledge by providing empirical evidence
on the state of technology adoption in the financial audit and accounting sector
and offering practical recommendations to industry players and policy makers. It
emphasizes the importance of strategic investments in training, infrastructure,
and change management to overcome existing challenges and take full advantage
of the advantages provided by emerging technologies.
In conclusion, this dissertation highlights the critical role of emerging technologies
in promoting innovation and efficiency in financial auditing and accounting. It calls
for continued research into the factors influencing technology adoption and the
development of appropriate strategies to support successful integration, ensuring
that organisations of all sizes can benefit from the ongoing digital transformation
in the industry.
Description
Keywords
Artificial intelligence Blockchain Machine learning Robotic process automation Financial auditing Accounting Technological adoption Operational efficiency Challenges Benefits