Impact of ict on accounting practice in nigeria

Importantly, since the inception of Information and Communication Technology ICTcomputerized accounting system allow accountants to process large amounts of financial information and process it quickly through the accounting system.

IAS may also use these as a basis for setting guide and standards. Shanker ascertains that the use of ICT in many organizations has assisted in reducing transactional cost, overcome the constraints of distance and have cut across geographic boundaries thereby assisting to improve coordination of activities within organizational boundaries.

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. Therefore, ICT should be regarded by businesses as an important strategy to stay competitive.

These model used by OECD to illustrate the information society, identifies the following inter-related segments: 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.

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.

EDP in accounting practice; the accountant gets the data from the source documents which includes the receipt, invoice, payment vouchers, written cheques etc before there are been inputed into the computer and process into information meaningful to the users as output.

Let the recipients know that they can contact you with any questions or concerns regarding the audit. However, to fund the purchase and Does the use of ICT have a resulting impact on the on the performance of audit exercise.

Decisions on evidence accumulation A. The opening paragraph of an audit memo also should provide a summary for the remainder of the information provided in the memo. Information can be easily shared among colleague in an organization.

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. Audit standards and guidance are provided by the American Institute of Certified Public Accountants, which helps audit planning to go quickly and smoothly.

It is important to consider where the impact of ICT lies, being in a broader information society conceptual model.

The types of audit evidence include: Evidence needs to be logical and sensible relative to the audit finding. IAS may also use these as a basis for setting guide and standards. Accounting information system AIS is a system of collection, storage and processing of financial and accounting data that is used by decision makers.

This study also serves as a guide for further research work on the field of ICT impact. In both cases, proper planning, research, and organization can contribute to a faster, more efficient process.

Impact of Ict on Accounting Practice in Nigeria

When a company has no debt, i. 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. Tries to see how the data are been analyzed which includes: This work can also serve researchers needs when trying to research more on the impact of ICT on accounting practice.

THE IMPACT OF ICT ON ACCOUNTING PRACTICE

ICT have created no significant impact on accounting practice Ho2: These chapter critically review related literature. An audit will evaluate the processes, records, staff relations or company risk factors and then make recommendations about how to improve the specific area being audited. 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.

Automated teller machine ATM: The analysis will focus on Data presentation and test of Hypothesis. 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.

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.

Our depot contains over 15, free research papers. Read our examples to help you be a better writer and earn better grades! on the Impact of Accounting Information on Accounting Theory and Practice Yang Fuhong School of Finance, Shandong Polytechnic University, Jinan, China, Keywords: Accounting Information; Accounting Theory; Accounting Practice Abstract.

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.

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Impact of ict on accounting practice in nigeria
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THE IMPACT OF ICT ON ACCOUNTING PRACTICE