Impact of ict on accounting practice in nigeria

In this regard, accountants add little incremental value to organization, but now accountants worth is reflected in higher-order critical-thinking skills, such as designing business processes, developing financial strategies, designing e-commerce models, providing independent assurance to companies and individuals.

The accountants fought a constant battle against the failure and lost of records. There are many different theories on how to approach an audit strategy; for complex cases, many financial experts suggest hiring a qualified account or consultant who can ensure that all regulations are comprehensively met during the process.

These research work will examine the impact of ICT on Auditing, individuals, work group, employment and production etc. Cable stranding consists of the stranding of the internal metallic The application of Information and Communication Technology ICTon accounting practice in Nigeria has become a subject of fundamental importance and concerns to all business enterprise and indeed a prerequisite for local and international competitiveness.

When a company has no debt, i. Currently, the manner in which accountants can potentially add value to economic entities and society is undergoing a metamorphosis.

A Prior observation shows that computerized accounting system have internal check and balance measures to ensure that all transactions and accounts are properly balanced before the financial statements are finally prepared. Therefore, ICT should be regarded by businesses as an important strategy to stay competitive.

Information and Communication Technology needs not be over emphasis as people needs and relies on information systems to communicate effectively using physical devices Hardware e. The level of ICT investment by firms obtained will help our result to be generalized and practice.

The chapterwill review the related literatures with critical review of the conceptual framework, the review of prior study as related to the software, the impacts of ICT at various level, the benefits of ICT. Therefore; if accountants adopt the use of ICT on accounting practice in Nigeria, then greater speed, accuracy, timeliness and cost will be cut down on their task as a professional.

This entails that organizations that are able to exploit the potentials offered by ICT can handle various types of innovative processes in their businesses since ICT influences the performances of an organization in multifaceted ways.

To assess and explore the impact of ICT usage since it can directly impact audit judgment, effectiveness and efficiency which form the basis for accepting the financial statement as to it true and fairness.

Accounting software and applications such as peachtree, SAP, sharepoint, DMS, Turbo tax, Microsoft dynamics, Quick book, Oracle, spreadsheets, Global enterprise resource planning system ERPS loctus e-mail etc has help accountants like auditors perform their task effectively and efficiently.

The result of this study maybe useful to auditing firms when trying to consider the technological need to improve the skill of their students in accounting practice. The application of Information and Communication Technology ICTon accounting practice in Nigeria has become a subject of fundamental importance and concerns to all business enterprise and indeed a prerequisite for local and international competitiveness.

Accounting information system AIS is a system of collection, storage and processing of financial and accounting data that is used by decision makers.

These research work will examine the impact of ICT on Auditing, individuals, work group, employment and production etc. The system has been set; it is the duty of accounting profession to device a means of improving on the Information and Communication Technology ICT. It is obvious that the way accountants plan and take decision on what and how to provide their service in the accounting profession has been affected immensely by Information and Communication Technology ICT.

Audit evidence from the most to least persuasive include: It is obvious that the biggest impact of Information and Communication Technology ICT has been made on accounting; and it is the ability of companies to develop and use computerized system to track and record financial transactions properly and accurately.

Impact of Ict on Accounting Practice in Nigeria

These looked at the introduction, the conceptual framework, the review of prior study; in terms of the software, the impacts of ICT at various level, the benefits and the summary.

An audit is an accounting procedure under which the financial records of a company or individual are closely inspected to make sure that they are accurate. This study can also help in analyzing ICT environment that govern the preparation, presentation of financial statement and audit evidence.

In trying to do so, the researcher need to take into cognizance the findings made in the previous studies and also be able to know the answers to come out with; that could be useful for further research work.

In trying to do so, the researcher need to take into cognizance the findings made in the previous studies and also be able to know the answers to come out with; that could be useful for further research work.

Does the use of ICT have a resulting impact on the on the performance of audit exercise. It is observed that, when Information and Communication Technology ICT first arrived on accounting profession, accountants initially automated existing processes rather than envisioning how information and Communication Technology could be used to conduct business in new and innovative ways.

Auditors and clients will decide how intense the audit plan will be based on the fees paid by the client. Get access to The Impact Of Ict On Accounting Practice In Nigeria c Essays only from Anti Essays. Listed Results 1 - Get studying today and get the.

The Impact of Ict on Accounting Practice in Nigeria. The impact of ICT on accounting practice in Nigeria CHAPTER ONE Introduction Background of the study In the recent past centuries, before the inception of Information and Communications Technology (ICT), the accountants of an organization were using a socially acceptable behavioural method of reporting accounting.

Our depot contains over 15, free research papers. Read our examples to help you be a better writer and earn better grades! This research into the impact of ICT on accounting practice covers a reasonable numbers of accounts and audit departments in Benue State, Makurdi.

It will consist of accountants in the accounting and audit department of United Bank for Africa(UBA) Makurdi Branch, Benue State Ministry of Finance, Office of the Accountant General.

THE IMPACT OF ICT ON ACCOUNTING PRACTICE

This research into the impact of ICT on accounting practice covers a reasonable numbers of accounts and audit departments in Benue State, Makurdi. It will consist of accountants in the accounting and audit department of United Bank for Africa(UBA) Makurdi Branch, Benue State Ministry of Finance, Office of the Accountant General.

Many American taxpayers fear an Internal Revenue Service audit, while dishonest companies fear independent audits of their business practices which may reveal embezzlement and other misuses of funds.

An audit keeps a company honest and also reassures employees and investors as to the financial status of the organization.

Impact of ict on accounting practice in nigeria
Rated 4/5 based on 92 review
THE IMPACT OF ICT ON ACCOUNTING PRACTICE