The effect of digitalization on accounting profession in the era of IR 4.0

Mohamed, Nur Fatin Hanisah (2024) The effect of digitalization on accounting profession in the era of IR 4.0. Project Report. Universiti Teknikal Malaysia Melaka, Melaka, Malaysia. (Submitted)

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Abstract

In recent years, digitalization has started to change many aspects in daily life, including in daily routines. The changes brought on by the digital age affect all areas of accounting, including corporate and fiduciary accountancy. Businesses and professions across industries experience a turning point thanks to Industry 4.0. Almost every element of the economy and professions is expected to undergo a revolution. The current industrial revolution's technology disruptions are neither immune to or excluded from the accounting profession. By examining the tools utilized and the factors that differentiate some trustees who are more digital than others, this thesis seeks to understand the effects of digitalization on the accounting profession in the era of IR 4.0 trustees. The study is helpful for researchers or small medium enterprise that want to have a knowledge about the outcome of the digitalization towards accounting profession. The data and results from 105 respondents were collected using SPSS Version 29.0. A variety of statistical tools were employed for data analysis, including reliability analysis, linear regression analysis, and Pearson's Correlation Coefficient analysis. The results showed that there is a significant relationship between the independent variables (robotics, blockchain, artificial intelligence, and cloud accounting) and the accounting profession. The study also found that blockchain is the most significant variable influencing the accounting profession in the era of IR 4.0.The research proposes a new framework to aid further understanding of these effects. To thrive in the evolving digital landscape, accounting professionals are encouraged to adapt proactively, develop relevant skills in cloud computing, blockchain, AI, and data analysis, and capitalize on the opportunities presented by IR 4.0. This proactive approach will ensure their continued success and relevance in the transforming accounting industry.

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