Digital disruption of accounting information and quality of financial reporting of listed money deposit banks in Nigeria

Jimoh Odunayo (), Rufus Ishola Akintoye (), Theophilus Anaekenwa Aguguom (), Abiodun Wasiu Sanyaolu (), Adeboyejo Omobowale () and Kolawole Akeem Osunusi ()

International Journal of Applied Economics, Finance and Accounting, 2023, vol. 17, issue 2, 337-352

Abstract: This study investigates the digital disruption of accounting information (DDAI) and the quality of financial reporting of listed deposit money banks (DMBs) in Nigeria. The accuracy of financial reporting and the ability of the Nigerian banks to fully digitalize their services are both severely limited by infrastructure deficiencies and unstable power supplies. The goal of this study is to fill in the gaps in the existing literature on the significance of digital disruption of accounting information in DMBs in Nigeria's developing banking industry. The study employed a field survey research design and data were sourced with the help of self-structured questionnaires. The respondents were drawn from the staff of 13 DMBs listed in Nigeria. A total of 641 questionnaires were retrieved and validated for the study. The reliability and validity of the study instruments were confirmed with the help of the Cronbach alpha test with a range of 0.877 to 0.967 which suggested satisfactory reliability of the measures and further suggested that all the measurement scales of the instrument were good enough. The results showed that the mean values for each category ranged from 3.83 to 4.53 with an overall mean of 4.13. The regression showed that DDAI had a significant effect on qualitative characteristics. The study concluded that DDAI had a significant effect on the quality of the financial reporting of listed DMBs in Nigeria. The outcome significantly contributes to the idea that managers of DMBs should consider the digitalization of the accounting information process to improve the quality of financial reporting.

Keywords: Artificial intelligence; Big data; Blockchain; Cloud accounting; Digital disruption. (search for similar items in EconPapers)
Date: 2023
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