The Impact of Big Data on Accounting and Auditing

Dimitris Balios
Additional contact information
Dimitris Balios: National and Kapodistrian University of Athens, Greece

International Journal of Corporate Finance and Accounting (IJCFA), 2021, vol. 8, issue 1, 1-14

Abstract: Big data and big data analytics will unavoidably change the role of accountants. This paper considers the impact of big data on accounting and auditing. Financial accountants need to move beyond the book-keeping process and become key information providers to decision-makers. That upturns accountants' consulting role and their ability to think strategically, providing critical help in management decision making. The relationship between managers and management accountants becomes closer and more effective because of big data. Management accountants can use additional analytical methods to detect processes and product excellence, combined with diminishing cost. Big data and big data analytics in auditing ensure audit quality and fraud detection. Upgraded information systems and automation in business procedures diminish the need for staff participation. Inevitably, the skills of accountants and knowledge must be associated with big data and big data analytics and modern accountants must develop an analytics mindset by being familiar with data and technologies.

Date: 2021
References: Add references at CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://services.igi-global.com/resolvedoi/resolve. ... 018/IJCFA.2021010101 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:igg:jcfa00:v:8:y:2021:i:1:p:1-14

Access Statistics for this article

International Journal of Corporate Finance and Accounting (IJCFA) is currently edited by Apostolos G. Christopoulos

More articles in International Journal of Corporate Finance and Accounting (IJCFA) from IGI Global
Bibliographic data for series maintained by Journal Editor ().