Technological Disruption in Digital Transformation: How Should the Accounting Profession Adapt?

Abstract

Manuscript type: Research paper
Research aims: To explore how disruptive technology impacts digital
transformation in accounting and the adaptation of the profession.
Design/Methodology/Approach: The study uses an interpretive
qualitative approach with phenomenological methodology, collecting
data through semi-structured interviews with accountants and auditors.
Research findings: Disruptive technologies, like artificial intelligence
(AI), blockchain, analytics and decision support, have significantly
altered accounting practices, presenting challenges and opportunities to
improve efficiency and accuracy in financial reporting. Adapting to these
changes is crucial for the accounting profession, requiring developing
new data analysis and IT skills through ongoing education programmes
for continued success.
Theoretical contribution/Originality: Provides insights into the changing
accounting profession, emphasising the vital skills needed to succeed in a
competitive, digitally transformed environment.
Practitioner/Policy implications: These findings significantly impact the
accounting profession, offering precise insights into how its future will
be shaped.
Research limitation: The findings of this research are based on a
qualitative approach using semi-structured interviews, which may limit
generalisability.