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The Impact Of Information Technology On The Accountancy Profession In Nigeria

309 words - 2 pages

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 ...view middle of the document...

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 effect of the impact? What are the existing challenges and what is being done...

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