Impact of Technological Factor on Accounting Practice in Ondo State, Nigeria

Abstract

This study investigated the impact of technological factor on professional accounting practice, with a view to examine the ICT (Information Communication Technologies) impact on efficiency of professional accounting practice and timely delivery of professional accounting work in Ondo State, Nigeria. A cross-sectional survey research design was used, and questionnaire was adopted as a main source of data collection. A purposive sampling technique was used for selecting expert chartered accountants. A five-point Likert’s scale was adopted and ANOVA through a means of SPSS version 20 for data analysis. The findings of the study revealed that ICT had significant impact on efficiency of professional accounting practice with the overall F-value of 521.056 at 5% level of significance. Further, ICT had impact on timely delivery of professional accounting work in Ondo State with the overall F -value of 425.280 at 5% level of significance. The study concluded that the deployment of ICT had impact on efficiency of professional accounting practice through enhanced timely delivery of professional accounting works in Ondo State from the perspectives of sampled accountants in the state. The study recommended that preparers of accounting information statements should continually participate in training and capacity building in the area of modern technologies applicable to professional accounting practice.