Impact of Fintech Revolution on Accounting Profession and Future Accounting Graduates

Ahmad Saiful Azlin Puteh Salin, Naimah Ahmad Yahya, Maizura Meor Zawawi and Naimah Zaini
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Ahmad Saiful Azlin Puteh Salin: Universiti Teknologi MARA, Perak Branch Tapah Campus, Malaysia
Naimah Ahmad Yahya: Universiti Teknologi MARA, Perak Branch Tapah Campus, Malaysia
Maizura Meor Zawawi: Universiti Teknologi MARA, Perak Branch Tapah Campus, Malaysia
Naimah Zaini: Universiti Teknologi MARA, Perak Branch Tapah Campus, Malaysia

International Journal of Research and Innovation in Social Science, 2024, vol. 8, issue 9, 2742-2751

Abstract: The COVID-19 crisis has irrefutably impacted occupations by increasing technological adoption on a global scale. In this context, the accounting profession also feels the heat, as the technological impact could be significant for many businesses. However, the impacts and phenomena are still under investigation and unexplored in many jobs and professions, particularly in the accounting field or less developed countries like Malaysia. Therefore, the purpose of this research is to ascertain the effects of technological adoption, specifically financial technology (Fintech), on the accounting profession, and to explore how higher education institutions can adapt to meet the evolving needs and characteristics of accounting graduates in the industry. This study uses semi-structured interviews with six (6) accountants who are currently employed in various organisations, such as government organisations, private sector and government link companies. The interview data is analyzed using three qualitative analysis stages: data reduction, data display, and data conclusion. According to this study, employers of future accounting graduates seek skills and technical knowledge related to information technology, accounting, and law. This study underscores the significance of the skills and knowledge that accounting graduates must possess, particularly those necessary during and after pandemic periods. Additionally, this study focuses on the environment of developing countries, an area currently under research. This study also offers recommendations to address the existing skills and knowledge gap in the job market. This will benefit both practitioners and academics.

Date: 2024
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