Adoption of ICT and Efficiency in Accounting Practice in Nigeria

Abstract

This study examines the adoption of information communication technology (ICT) and efficiency in accounting practice in Nigeria. The main objective is to convert analog accounting work, which includes the use of voluminous and time-consuming paperwork, to digital as well as office space and a lot of material, such as expenditure. With the prominence and advancement of technology, it is unavoidable that it will become a large part of any functioning company's operations, and a business cannot thrive without interacting with some technology during day-to-day operations. This study adopted primary data through a structured questionnaire that was administered to 130 respondents consisting of managers, auditors, chartered accountants, directors in accounting firms, and parastatals in Nigeria. The findings of the result show that the use of ICT and efficiency in accounting practice aid in expanding means of communication (EMC), data collection management (DCM), and information security management (ISC). This was quite beneficial in accounting practice. Accounting for proper ICT provision and defining the usage of technology to solve business and organizational problems were two of the recommendations offered. ICT is used to store, recover, and share information.