Artificial Intelligence and Accountants' Approach to Accounting Functions

Prior to the advent of Artificial Intelligence (AI), accounting functions were predominantly processed manually. The emergence, however, introduced the use of intelligent machines to perform functions cleverly as humans, which minimises reasonably the processing time of accounting transactions when compared to manual processes. This study investigated the relationship between Artificial Intelligence (AI) and Accountants’ Approach to Accounting Functions (AAAF). The study used the research design method through a structured questionnaire. The targeted population and the sample size was 205, which comprises accountants with experience in systems' application for accounting and other financial transactions' functions. A purposive sampling technique was adopted to determine the respondents. The results of the logit regression analysis revealed that with the t-calculated of 3.183 > t-tabulated of 0.002 at a 5% level of significance, artificial intelligence has a significant positive impact on accountants' approach to accounting functions. This implies that when AI is adopted, accountants will significantly change their approach to functional activities. The study recommended the need for accountants to be better equipped with diverse AI technologies and accounting software packages through training and retraining, to enhance their functional abilities, effectiveness and efficiency

An Assessment of the Impact of Disruptive Technologies on the Efficacy of Accounting Practices in Selected South Western States, Nigeria

Advancement in technology has brought intense but healthy competition among professional bodies in Nigeria, especially in the field of accounting. This has systematically transformed the accounting process from a traditional analog to a digital system. It is on this note that this study examined how disruptive technology affects the efficacy of accounting practice in Nigeria. This study employed a survey research method with the use of a structured questionnaire distributed among professional bodies in Ekiti, Osun, and Ondo States, South Western Nigeria. Regression analysis of Ordinary Least Squares coupled with correlation analysis were employed. The results revealed that artificial intelligence, blockchain, big data, and the internet of things had a significant positive effect on the controlled variable in Nigeria. The results also revealed that cloud computing had insignificant negative effect on the dependent variable. With the F Statistics (7.113) = 109.747, P = 0.000 < 0.05), the results showed a significantly strong relationship between the controlling and controlled variables. It is, thus, recommended the pivotal need for accounting practitioners to enhance their knowledge of disruptive technologies through training and retraining, and continuous attendance of related workshops organized by the respective professional bodies in Nigeria