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The Impact of Information Technology on the Accountancy Profession in Nigeria
THE IMPACT OF INFORMATION TECHNOLOGY ON THE ACCOUNTING PROFESSION IN NIGERIA
By: Idongesit Efiong Utah
ABSTRACT
This research focuses on assessing the impact of information technology on the Nigerian Accounting profession by examining four areas: Impact on the public and private sector, the challenges and reaction to the challenges posed by information technological innovation and information technologies enhancing effect on the Accounting profession.
INTRODUCTION
It is evident that we are in information driven age where information technology is a driving tool in the public and private sectors. The replacement of mainframe computers with personal computers which were affordable to most users has ushered us into an era of proliferation of information, speed of assess to and ability to disseminate information. The information technology revolution has brought about a drastic change in the business environment, its structure and the business process. Information technology has become a strategic tool that drives the strategic initiatives of organizations and businesses. Manual processes have been replaced with automated processes, routine bookkeeping and recording of financial information is being done electronically, and the ease and speed of transacting business has greatly increases. The accountant as a major player in the public and private sectors cannot afford to be left out. To function properly and competently the accountant must take the changes brought about by information technology in stride, the accounting professional must be proficient in the use of modern information technology tools in order to remain relevant , solve business problems and provide value added services to his clients in the public and private sectors.
In this paper we seek to assess the impact of information technology on the Nigerian Accounting Environment. Has the impact been positive? What is
THE IMPACT OF INFORMATION TECHNOLOGY ON THE ACCOUNTING PROFESSION IN NIGERIA
By: Idongesit Efiong Utah
ABSTRACT
This research focuses on assessing the impact of information technology on the Nigerian Accounting profession by examining four areas: Impact on the public and private sector, the challenges and reaction to the challenges posed by information technological innovation and information technologies enhancing effect on the Accounting profession.
INTRODUCTION
It is evident that we are in information driven age where information technology is a driving tool in the public and private sectors. The replacement of mainframe computers with personal computers which were affordable to most users has ushered us into an era of proliferation of information, speed of assess to and ability to disseminate information. The information technology revolution has brought about a drastic change in the business environment, its structure and the business process. Information technology has become a strategic tool that drives the strategic initiatives of organizations and businesses. Manual processes have been replaced with automated processes, routine bookkeeping and recording of financial information is being done electronically, and the ease and speed of transacting business has greatly increases. The accountant as a major player in the public and private sectors cannot afford to be left out. To function properly and competently the accountant must take the changes brought about by information technology in stride, the accounting professional must be proficient in the use of modern information technology tools in order to remain relevant , solve business problems and provide value added services to his clients in the public and private sectors.
In this paper we seek to assess the impact of information technology on the Nigerian Accounting Environment. Has the impact been positive? What is
References: Dillon, T.W., & Kruck, S.E. (2004,Spring). Technoloqy in accounting. Management Accounting Quarterly,6-7 Institute of Chartered Accountants of Nigeria. (2006). Management information systems ,professional examination I study manual. Nigeria: VI Publishing. Mega Essays.com.(2009). Affects of Technology on Accounting Profession. Retrieved March 24,2009 from www.megaessays.com./ Omoregie, P.A.(2001, October). The future of the ACA holder. At the 31st Annual Accountants Conference of the Institute of Chartered Accountants of Nigeria, Abuja , Nigeria.