DINGJIE YAO1,*.
1, Geely University of China, Chengdu 610200, China.
Abstract
Purpose: This article examines how digital transformation has evolved over time and what this implies for traditional accounting careers in the future. It tries to know how this change occurs and what emerging skills professionals require in the digital economy. Design: It employs a mixed method involving examining how technology was utilized in the past and contemporary examples from various organizations. The study examines old records, professional publications, government reports, and information from four time intervals starting in the 1950s to date. It employs a framework involving technology creating change, rules and regulations, market competition, and organizational response. Findings: The study reveals that digital transformation is not merely automation. It involves new tasks such as anticipating trends, managing risks in real-time, and double-checking for compliance. The article establishes a pattern where technology introduces new capabilities, uses data more efficiently, and boosts intelligence. A global comparison indicates that developed nations emphasize collaboration to develop new capabilities, whereas developing nations utilize technology by bypassing some processes. Conclusion: Current digital transformation draws from past experience and also makes considerable leaps in managing business intelligence, transforming the role of professionals while retaining essential skills. Practical Implications: The study provides recommendations to accountants undergoing technological change, leaders implementing digital transformation in their organizations, and policymakers developing rules for digital accounting standards.
Keywords: Digital transformation, Accounting functions, Artificial intelligence, Professional evolution, Business intelligence
1 Introduction
The great shift in accounting practices through digital technologies is one of the biggest professional service changes since double-entry bookkeeping began during the Renaissance. This shift, rapidly accelerating in the early 21st century, questions the traditional notions of accounting functions and necessitates a close examination of its past to discern how it evolved and what it portends for the future [1]. The digitization of accounting principles has transformed not just existing processes but has also initiated a grand shift that alters the essence of financial reporting, compliance mechanisms, and organizational decision-making [2]. Recent research demonstrates that such digital transformation in accounting encompasses more than the adoption of new technology; it involves larger social and economic changes that mirror similar contours of technological disruption in contemporary history [3].
The history of accounting demonstrates a transformation as a response to new technologies. From mechanical calculators, to electronic computers, to personal computers, and now to artificial intelligence and blockchain-based technologies [4]. This move to digital technology differs from other transformations because it is much bigger, occurs more quickly, and radically shifts the core work of accounting [5]. This transformation involves bringing old processes online and establishing new accounting competencies, such as real-time financial reporting, predictive analytics, and automatic checks against compliance rules [6]. Accountant utilization of technologies such as artificial intelligence, machine learning, and blockchain have created, according to researchers, a “digital ecosystem.” This fundamentally alters accountants’ management of data and decisions within organizations [7].
Recent research has established significant transformations in how accounting is practiced in all organizations, posing both opportunities and challenges for digital transformation [8]. New technologies such as cloud accounting, robotic process automation, and data analytics software have transformed businesses and raised significant questions about professional identity, expertise, and regulation [9]. Moreover, the global scope of digital transformation has brought with it intense pressure for standardization, as organizations across the globe implement the same technology that may result in similar accounting practices across various institutions and societies [10]. Such a trend towards converging is consistent with historical attempts to standardize practices as in other professions during periods of technological change [11].
Increasing numbers of researchers are examining digital accounting technologies, but we do not yet have a nuanced understanding of the history of this shift and what this heralds for the future of professional work [12]. Most studies are technical or management-focused, such as how one makes use of these technologies, their advantages, or how to use specific tools, rather than examining the larger historical context and how things have developed over time [13]. This limited lens omits key questions regarding what hasn’t changed and what did change between today’s digital transformation and past accounting technology transformations [14]. Also, while numerous studies demonstrate the rapid impacts on accounting work of digital technologies, there are fewer examining the more profound shifts in professional roles, workplace relations, and the rules behind this transformation [15].
The fundamental concepts for accounting for digital transformation are not well linked and are dispersed across various disciplines such as information systems, organizational research, and accounting research [16]. Current conceptual frameworks most often do not look to the past; they view new developments as completely new rather than being part of an extended history of technology and professional development [17]. This failure to look back makes it difficult to identify recurring patterns, forecast what is to come next, and build strong explanations of how digital transformation operates [18]. Furthermore, the rapid pace of technological change has caused a disparity between research timelines and actual changes, resulting in studies that become outdated rapidly or fail to reflect new trends [19].
The research of the current topic examines these matters by analyzing a long history and illustrating how digital innovations have been employed in the long evolution of accounting practice [20]. This approach emphasizes similarities with previous technology applications as well as new aspects of the occurring changes [21]. By examining the changes through various time frames, from the beginning of computer technologies to applying artificial intelligence nowadays, the research illustrates the integration of technology, rules, and professional practices and how they have evolved simultaneously [22]. Through the history investigation, we can observe how digital technologies extend existing ideas in accounting and provide totally new possibilities for financial measurement, reporting, and control [23].
This study employs various methods to examine how technology has been employed in the past and how it is employed currently in various organizations [24]. It draws on old records, specialist texts, regulations, and actual data to tell a full story of digital developments in accounting [25]. Employing various methods illustrates the complexity of the problem and the necessity to know both wide trends and minute specifics of how things are performed [26]. The study contrasts various paths of digital development across various countries and organizations, illustrating how institutions and rules influence technology application [27].
The model developed here incorporates concepts of institutional theory, theories of technology adoption, and professional sociological concepts to illustrate how digital transformation occurs within accounting [28]. Digital transformation is defined as a phenomenon occurring on various levels and encompassing the way in which technology skills, institutional pressures, organizational characteristics, and individual behavior interact with one another [29]. The model illustrates the two-way dynamic between technology and professional work and indicates how digital technologies address ongoing needs and create possibilities for new opportunities within accounting work [30]. With the incorporation of past experience, the model illustrates how past technology changes influence how things are adopted today and set the path for future prospects [31].
The research identifies definite patterns of digital technology use in accounting, yet also varies with the situation [32]. Historical analysis reveals the ways various waves of technology have gradually enhanced accounting capability and transformed work and relationships among firms [33]. Current advancements in artificial intelligence, blockchain, and analytics both build on and accelerate past patterns [34]. Research highlights key junctures where new technology intersects with institutional shifts, providing opportunities for extensive transformations in accountancy practices [35]. An awareness of these dynamics foretells future transformations and navigates existing alterations to professional and organizational life.
2 Historical Evolution Trajectory of Digital Transformation in Accounting Functions
2.1 Germination Period: Introduction of Early Computing Technology (1950s-1980s)
The period when digital accounting began was significant because it shifted the way individuals practiced mathematics with the use of computers as an alternative to the manual method. This shifted the way finances were transacted. From the 1950s to the 1980s, electronic data processing became an option rather than the manual bookkeeping techniques used starting from the Middle Ages. Advances in the early computer technology developed during this period resulted in more advancements in digital bookkeeping. This, according to historians of technology, is one of the key milestones in the evolution of professional financial management techniques.
In the early 1950s, computers did not handle accounts, and everything had to be done manually. Math worked with the aid of machines and column pads and ledgers to record numbers slowly. Mechanical adding machines, such as the Burroughs and Monroe calculators, were the best equipment bookkeepers and accountants had. Although these devices were excellent during those times, they only had a limited number and variety of financial calculations to perform efficiently.
The introduction of electronic computers in the 1950s introduced new capabilities superior to mechanical calculators. The first electronic computers, such as the IBM 701 and UNIVAC I, demonstrated that rapid math processing could occur at a new level for business. Initially, though, applying electronic computers to accounting progressed slowly due to costs, technical issues, and reluctance from old accounting practices. The efficiency of electronic computers made a significant impact, accelerating processes and reducing transaction times from hours to minutes, which revolutionized how cost-effective accounting processes could be.
Various companies and establishments utilized electronic computers for bookkeeping purposes differently. Government departments and large organizations were more inclined to adopt this technology as they had a need for strong computers and could cope with newer devices. The IBM 1401 computer system, introduced to the market in 1959, was an ideal option for medium and large companies to carry out electronic data processing as compared to manual bookkeeping. As of 1965, more than 10,000 IBM 1401 systems were installed worldwide, with half of them exclusively for bookkeeping and accounts. This rose sharply from fewer than 100 electronic computers installed in enterprises ten years prior, in 1955. Popular for being conceived for business use, with built-in bookkeeping functions, and simple to program, the system became easy to use for individuals.
Computer skills and concepts for electronic information handling became included in accounting training and education programs in the latter half of this early period. This transition indicated that future accountants should be adept at technology. Schools and universities of accounting developed specific courses in electronic data processing to provide the required skills for computerized accounting. The educational change was necessary to conform to emerging technology in accounting, and computer technology gained high significance in professional accounting. Figure 1 is a step-by-step timeline that examines the early period when accounting began adopting digital technology. Figure 1a illustrates the four stages of developing institutions from manual processes to business success. Figure 1b illustrates key technology milestones, with the most significant being the IBM 1401 (9.1/10) since it was designed for business application and managed medium-sized programs. Figure 1c illustrates the quadruple helix model, in which technology skills, institutional readiness, market demand, and organizational change converge to provide strong support. This synchronized analysis indicates that successful digital transformation requires multiple factors to converge, not one, explaining systematic changes in accounting practice.
Figure 1. Evolution Timeline of Early Computing Technology in Accounting
2.2 Development Period: Popularization of Personal Computers and Accounting Software (1980s-2000s)
The period when computers became integrated into accounting, between the periods of the 1980s to the 2000s, was one of dramatic change. It made computers more accessible and resulted in special accounting software. Business during this period shifted from massive mainframe computers to personal computers. This opened up the use of high-powered computers to small businesses and private accountants, which only big companies and government agencies could use. Personal computers’ expansion during this period meant there were electronic accounting software packages available, and numerous organizations adopted computer-based financial management packages.
IBM brought out the Personal Computer in 1981 and established a standard for computers. This standard provided people with an easier time finding good accounting software, reducing prices and enabling individuals to use them conveniently. Due to the fact that this standard was embraced by many, programmers were motivated to develop distinctive accounting software that would be compatible with numerous companies. With straightforward operating systems such as MS-DOS and then Windows, computers became friendly to use. This enabled electronic bookkeeping and other computer programs to be accessible to professionals who lacked special coding expertise.
The original electronic spreadsheet software began with VisiCalc in 1979 and improved with the introduction of Lotus 1-2-3 and Microsoft Excel. This software contributed to making personal computers incredibly practical to use for financial analysis and modeling. This software enabled accountants to perform complex calculations, model various scenarios, and forecast finances quicker and more precisely than ever before.
Spreadsheet formulas assisted accountants with sophisticated financial analysis, such as the computation of net present value and the time value of money. These operations took much manual effort or expensive special software to accomplish. Specialized accounting programs were then developed to address the demands of financial accounting management and reporting. These programs provided integrated solutions with areas to service the general ledger, accounts receivable and payable, and payroll, and to generate financial reports. Early accounting programs, such as Peachtree Accounting, QuickBooks, and Great Plains, had basic layouts resembling traditional paper forms and procedures. It became less complicated to learn the new computerized systems. These packages had integrated bookkeeping rules and automatic posting procedures reducing the amount of manual effort required for day-to-day bookkeeping and assisted with accuracy by detecting errors automatically.
Standardizing accounting software made everyone work with the same data forms and report types. This facilitated integration among various systems and organizations. Programmers commonly adopted one common chart of accounts and functionality based on standard accounting rules. It transformed computerized accounting practices into standard ones in most industries and organizations. This standardization enabled the design of business management systems that could link financial information in various areas. It also paved the way for enterprise resource planning systems in the future.
Personal computers revolutionized classrooms and workplaces rapidly. Schools and training facilities were forced to reform what they were teaching. Accounting courses began to feature computer and software courses. This shift demonstrated that individuals were required to have good technology skills for employment. Certification programs for professionals introduced computer examinations and incorporated software to study. Before long, the application of digital tools and being technologically savvy became the standard for accounting.
2.3 Maturity Period: Integration of Internet and ERP Systems(2000s-2010s)
The digitalization maturity stage had numerous individuals employing internet technology and business management systems. This transformed accounting into a system that offers instantaneous business information for every organization. This stage remained the entire decade of the 21st century and involved the creation of combined internet connections, database technology, and bundled business software. This made it possible for financial data to be linked and for various areas to collaborate. Web-based accounting systems developed during this period eliminated location and time constraints that had earlier limited accounting work to certain locations and schedules.
The expansion of internet services permitted accounting work and immediate financial reports from remote areas. Online tools for accounting permitted individuals to utilize common internet browsers to reach financial systems to accomplish accounting functions in various places and time zones simultaneously. This link transformed the practice of accountancy from an action undertaken within a team location to a live operation and an activity capable of helping firms globally. For exact transactions with various currencies within connected systems, sophisticated algorithms would have to take care of the changes of currency rates, and live calculations would need to carry out financial reports with various currencies and regulations.
Enterprise Resource Planning systems began as comprehensive business management solutions that integrated accounting with other processes such as inventory management, human resources, customer relationship management, and supply chain management. Leading ERP systems such as SAP R/3, Oracle Financials, and Microsoft Dynamics developed integrated data structures that eliminated information gaps across various business functions. This enabled accounting systems to automatically capture and manage financial transactions occurring across the entire organization. These systems had sophisticated workflow management capabilities that automated approval processes, enforced compliance with internal policies, and maintained detailed audit trails of all financial transactions.
Merging internet technology and ERP software resulted in new online resources for financial analysis and reporting that provided immediate access to financial information. Real-time reporting and web-based dashboards transformed the way financial data is communicated. Rather than pre-formatted reports generated on a fixed schedule, there are now interactive systems that can be adapted to various user requirements and access levels. This enabled fast response from managers and executives since they are able to view financial performance and business metrics instantly.
Regulations for data sharing were established during this period. These regulations enabled various business partners and programs to interact. With web services and Extensible Markup Language, financial information was able to be transmitted automatically from accounting programs to government agencies, customers, banks, and suppliers. This eliminated the typing requirement and enhanced accuracy with automatic verification. These linkages facilitated increased electronic invoicing, faster matching with banks, and enhanced financial grouping in large firms.
There were regulations for connected accounting systems at this point in time. Internet-based financial systems created additional concerns for safeguarding data, preserving privacy, and maintaining records. To comply with internal control regulations such as the Sarbanes-Oxley Act, there needed to be improved access controls, improved data backup, and competent individuals to oversee changes. These actions were designed to ensure that financial information in connected systems was secure and reliable. These compliance regulations improved system design and instructed accountants on new skills to apply with integrated business systems.
2.4 Transformation Period: Rise of Cloud Computing, Big Data and AI (2010s-Present)
Since the early twenty-tens, the accounting field has been caught in a long-running wave of change that shows few signs of tapering off. Cloud platforms, data drilling tools, and machine-learned assistants now govern how numbers are crunched and reviewed. Many practitioners still recall the old rules about segregation of duties and desk-bound audits; today’s breakthroughs push directly against those maxims. Cloud computing, machine learning, and the blockchain have opened a new era of technology, and we now have financial analysis, forecasting, and automation like never before.
They transformed accounting systems with the availability of software and computers online. Cloud accounting grew extensively over the years, and the cloud accounting software market had reached around $3.5 billion globally as of late 2023. It would expand to $7.0 billion during the period ending 2032, with an annual expansion of 7.8%, as per Allied Market Research. This is a massive transition from PC software to Software-as-a-Service platforms. They simplify access to advanced tools with fewer technical issues and lower expenses. Software-as-a-Service brought the advanced tools to individuals and internet-based businesses within more affordable prices. Accounting systems based on the cloud allow groups of individuals around the globe to collaborate on projects simultaneously, receive automatic software updates, and deal with changes in computing power without their own IT infrastructure.
Big data accounting analytics transformed much of the untapped transaction data into an aid to organizations. Big-data analytics no longer relies solely on dusty quarterly ledgers; it now predicts future cash flows and pinpoints potential risks in real time. Fresh algorithmic techniques can process millions of transactions simultaneously, highlighting patterns and anomalies that would elude even the most diligent auditor. Because these calculations are powered by machine learning, the systems autonomously draft new financial models, classify incoming entries, and outline what next week—or next quarter—is likely to look like. This represents a marked departure from yesterday’s rule-driven frameworks, which merely enforced preset logic without adapting to new information.
Artificial-intelligence-infused accounting packages have begun to make decisions independently. They authorise bill payments, tag expenses, and flag fraud with surprisingly little human intervention. Learning-enabled software sifts through historical transaction streams, assigns categories to new items on the fly, and alerts users when something appears incorrect, whether it is a data entry mistake or a sophisticated scam. Such programmes also draft cash-flow forecasts and budget scenarios rather than waiting for an accountant to request them. The role of AI in finance has shifted from automating mundane tasks to acting as a smart, self-improving assistant that becomes more adept the more it observes.
The term blockchain describes a distributed ledger that archives financial transactions in a consensus-driven, tamper-evident manner. Because the same log exists on thousands of independent nodes, modifying a single entry without broad agreement is practically impossible. This natural redundancy curbs the most common motives for electronic fraud by denying bad actors the easy option of rewriting history. Autonomous programmes known as smart contracts can encode multi-step payment conditions directly onto the chain and execute them automatically once triggers occur. By sidestepping traditional intermediaries—lawyers, clearinghouses, or escrow agents—groups shave the latency and expense that customarily drags out complex trades.
Monitoring takes on a different tempo when sensors embedded in machinery pipe raw readings straight to the ledger. Financial book entries, in this scenario, become by-products of operational flows rather than discrete weekly tasks, allowing finance teams to shift scarce hours toward strategy rather than data entry. This technology assists with developing account management models that are able to forecast future financial statuses depending on existing business data and external market data. This transformation is not only an enhance of existing accounting capacity; it is an entirely redesigning of financial management. It becomes an ongoing, intelligent, and highly mechanized endeavor that moves beyond reporting and bookkeeping to also encompass strategic business analysis and decision-making.
Figure 2 illustrates how digitalization evolves over a period of four phases. Figure 2a illustrates a spiral route representing the evolution, with rising trends indicating more sophisticated functions and more use of technology. Figure 2b illustrates the integration matrix for technology, which demonstrates how new concepts build on what is currently there and do not replace it. From the matrix, we can observe how digital transformation accumulates, and each phase contributes to the next transformations. Figure 2c illustrates the multi-dimensional nature of change using radar patterns to compare the earlier phases on the basis of efficiency, accuracy, integration, intelligence, and access. The consistent improvement from the beginning to the later phases illustrates a complete improvement in capability.
Figure 2. Historical Evolution Framework of Digital Transformation in Accounting Functions
3 Reconstruction of Traditional Accounting Function System by Digital Transformation
3.1 Digital Transformation and Value Reshaping of Core Functions
Digitalization of accounting depicts the tremendous transformation of the way financial management had been carried out before. It is not merely a question of utilizing equipment to do things quicker; it alters the way we approach time, analysis, and strategy within accounting. Digitalization reconstructs the fundamental components of the work of accountancy with sophisticated digital technology to ensure enhanced accuracy, speed, and analysis. Digitalization is not merely about doing things efficiently; it brings with it alternative ways of doing accountancy, which traditional ways are not able to do.
History of Core Accounting Functions. The technological transformation of accounting’s core functions is a significant shift that is built on centuries of development while introducing new capabilities. How we capture information began with Luca Pacioli’s double-entry accounting system in 1494, developed to mechanical calculators in the 19th century, and culminated in contemporary systems that automatically capture data in real time. How we quantify value evolved from antiquated cost rules established through legislation in the 1930s to new mechanisms of valuation, with the 1990s innovation of fair value accounting standards presenting a significant departure from conventional techniques.
The control function expanded from the internal mechanisms of 19th-century railroads into full digital tools that facilitate full analysis of transactions rather than only examining samples. Conventional reporting was constrained by printing and mailing limitations, which were employed to generate periodic financial reports. Current digital technologies facilitate ongoing communication with stakeholders through interactive dashboards. The decision support function expanded from management reports of the early 20th century to sophisticated analytics platforms that employ artificial intelligence to improve business intelligence.
Each alteration reveals how certain aspects remain constant over time but acquire added functions outside normal work limitations. Merging these added traits eliminates delays and tardiness inherent to outdated bookkeeping software. This markedly alters the perception of how individuals think about bookkeeping, reducing it from merely record-keeping to being vital to business analysis and decision-making, which makes the company more competitive.
Putting these altered primary functions together is beneficial, making each one more valuable in itself. Simple data sharing of recording, measuring, reporting, controlling, and decision support activities eliminates gaps and delays inherent in conventional accounting systems. This integration results in full real-time financial management, enabling firms to make timely decisions and assist in communicating with stakeholders. This is quite different from accounting as only record-keeping; now it turns into an intelligent business intelligence and decision support system.
3.2 Generation Logic and Development Path of Emerging Functions
Digital transformation generates new accounting work due to technology competence, a great deal of information, and smart decision requirements in organizations. Unlike the old core work that evolves at a slow pace, the new work is entirely new competence created by blending current digital technologies with new approaches to viewing financial systems in organizations. This change demonstrates that digital transformation is not merely about simplifying work but also enables the generation of new competence that enhances the significance and worth of accounting practices to organizations.
The fundamental method of generating ideas has three phases: utilizing technology, utilizing data, and enhancing intelligence. Technology provides us with powerful computing capability to process large volumes of financial and operations data rapidly, which is impossible with conventional manual means. Utilizing data transforms information that was underutilized in the past into valuable resources by applying sophisticated analysis methods that reveal hidden trends, patterns, and hints at the future. Enhancing intelligence employs machine learning and artificial intelligence to generate ideas that are superior to what a human can analyze, yet maintain the context necessary for making intelligent decisions.
Figure 3 illustrates how new accounting functions develop step by step. They begin by focusing on data, then go to forecasting outcomes, and eventually design intelligent systems. This illustrates how digital technology assists accounting transform from simply describing the past to providing valuable advice for the future. The model illustrates how current technology, in-depth analysis, and making value for organizations combine. This results in enhanced capabilities that enhance what accountants can accomplish.
Figure 3. Generation Logic and Development Framework of Emerging Accounting Functions
The skills of data analysis are necessary because they transform routine transaction records into information of use by identifying patterns and observing trends. Real-time data blended with intelligent monitoring systems capable of identifying abnormal behavior and potential risks as they occur provide the capacity for monitoring risks. From past experience, we learn that the ability to foresee financial outcomes is the result of meticulous amassing of patterns of transaction information. The evolution of forecasting skills occurs in distinct phases: initially, data collection (1950s-1980s), followed by abilities to recognize patterns (1980s-2000s), and subsequently, the utilization of predictive analytics (2000s to today). Such evolution proves to follow a pattern witnessed throughout history within other domains amidst periods of profound technological transformations.
Strategic intelligence operations occur when we integrate lots of information, sophisticated analysis techniques, and organizational knowledge. This enables accounting systems to provide key information to executives to plan and strategize. The goal is when machines can act autonomously, applying machine learning to adjust their analysis in response to environmental and performance feedback changes without constant assistance from humans.
The development pathway illustrates how emerging features adhere to definite patterns of value, analysis, and technology that transform reports into business intelligence from basic management. The reason why digital transformation can establish new capabilities that enhance a firm’s competitive edge by improving strategic insight and decision-making is explained by this development.
3.3 Dynamic Mechanisms of Holistic Reconstruction of Function System
Four steps occur in the entire rebuilding of accounting systems. They include technological changes, institutional rules, market competition, and organizational changes. These components fit together through feedback loops to produce pressures for system changes.
The technology that drives things ahead is largely powered by rapid advances in computing, as evidenced by Moore’s Law. If we look to the past, we can see that computer developments have accelerated more and more rapidly since the 1960s. The launch of the IBM System/360 in 1964 established the foundation for business computing, and in the decades that followed, capabilities increased progressively. The personal computer revolution in the 1980s brought accounting technology to more individuals, and in the 1990s, the internet linked financial systems. This record demonstrates that technology builds upon previous advances rather than coming from out of the blue.
Organizations establish regulations on the basis of laws mandating electronic filing, electronic audit trails, and real-time reporting. New findings indicate that 88% of accountants believe AI will have a positive impact on their work in the next three years. Professional associations at the same time establish digital guidelines on compliance to promote the adoption of technology.
The market penalizes the slow and rewards the fast. Organizations with the newest data analysis and blockchain technology have definite advantage. We have lessons of history to learn here. Competition becomes fierce when some organizations are more technologically advanced than the others. During the 1960s, organizations utilizing computers enjoyed great benefits over those utilizing manual processes. Due to this, other organizations began utilizing technology during the 1970s and 1980s.
The ways organizations transform indicate the requirement for skills, causing willing changes. Digital transformation enables accountants to transition from routine work to strategic guidance, presenting them with reasons to advance their careers.
Figure 4a illustrates how these approaches complement each other to restore the central function. Figure 4b illustrates changes from 2010 to 2025, where technological approaches expand rapidly and institutional, market, and organizational approaches grow at varying rates. Figure 4c illustrates a feedback loop matrix that indicates how much each approach impacts the others, from a minimum of 0.5 to a maximum of 1.0. This indicates that technological shifts invite reactions from institutions, generate competition, and call on organizations to react in continuous feedback loops.
Historical experience indicates good reconstruction requires all four of these mechanisms to operate and not one. This shift in perception makes today’s accounting reforms a key change of system because teamwork alters professional boundaries and organizational ability.
Figure 4. Dynamic Mechanisms of Holistic Function System Reconstruction
Historical records indicate that only with all four approaches combined and not individually is successful reconstruction possible. This model postulates that current change in accountancy is a key system change as a result of forces cumulating over time, altering organizational skills and professionals’ boundaries in the era of information.
4 Diversified Practices of Accounting Function Digitalization from Global Perspective
4.1 Leading Experiences and Model Innovations of Developed Economies
Wealthy nations have been good role models in transforming accounting with technology. They developed structured approaches, embraced new solutions, and employed intelligent means that are significant models for establishing global digital accounting standards. These nations thrive not only due to new technology, but also because they typically strive to make rules, laws, and the professional environment better.
The Nordic nations (Norway, Sweden, Finland) are presently among the most digital nations on the globe. They have developed a unique “collaborative model of innovation” for digital accounting. The digital governments of these nations have collaborated more than ever before through the Nordic DigiGov Lab project. They aim to enhance digital governance that is people-centered in the Nordic and Baltic nations. There are special characteristics in this model that distinguish it from others.
Their collaboration over time, with good planning, has evolved. The Nordic Accountant Federation (NAF) unites accountancy groups in Sweden, Finland, Norway, and Denmark, with accountancy and auditing being viewed as distinct functions. This institutional design effectively prevents conflicts of interest and provides clear professional boundaries for digital transformation initiatives. Furthermore, the standardization of technical requirements has reached significant levels of sophistication. The Swedish Accounting Standards Board (BFN) is reviewing Generally Accepted Accounting Principles (GAPP), with proposed changes to K regulations in 2025 affecting numerous companies. Sweden has pioneered groundbreaking policy changes, as amendments to the Accounting Act allow businesses to no longer retain paper records, provided the information is securely stored in electronic format, establishing legal foundations for digital accounting practices.
Singapore, as Asia’s financial hub, has established a globally leading digital financial reporting system through mandatory implementation of XBRL (eXtensible Business Reporting Language). Singapore has decided to implement ISSB standards from 2025, with listed companies leading the way, followed by large non-listed firms in 2027. The Singapore model exhibits distinctive characteristics in precision-based regulatory requirements, where limited and unlimited public and private companies in Singapore are required to file full sets of financial statements in XBRL format. The regulatory authority ACRA provides multiple template options: the full XBRL template includes about 210 data elements, while the simplified XBRL template includes about 120 data elements, accommodating reporting needs of enterprises of different scales.
The technical support system demonstrates government-led innovation, as ACRA provides free BizFinx preparation tools and multi-upload tools, enabling companies to submit XBRL financial statements through the BizFinx portal. This government-driven technical support model effectively reduces digital transformation costs for enterprises while ensuring standardization and compliance across the financial reporting ecosystem.
European and American developed economies are experiencing a second wave of digital transformation centered on artificial intelligence. AICPA President emphasizes that generative AI, more than any other technology before including cloud computing, is poised to accelerate the transformation of practice areas and enable the shift to higher-level advisory services. However, strategic planning gaps remain significant, as a Gartner survey reveals that nearly 80% of financial organizations invest in AI technologies, but only 25% have a well-developed AI strategy.
Professional adaptation to these technological changes shows mixed patterns. 57% of accountants deem technology literacy to be the most critical addition to skill sets for future employees, while 58% of accounting professionals are not worried that AI will replace them. These professional adaptation patterns are supported by comprehensive industry surveys conducted across developed economies. According to the 2023 Global Accounting Technology Survey by the Association of International Certified Professional Accountants, the widespread acceptance of AI technologies reflects a strategic shift in professional expectations, where technological competency is viewed as essential for career advancement rather than a threat to job security. Similarly, research by Sage Group plc indicates that 90% of accountants believe that cloud accounting and digital business processes will be the key differentiator among companies in the near future, reinforcing the complementary nature of human-technology collaboration in professional accounting practice. This suggests a recognition of technology’s complementary rather than substitutional role in professional practice, where the majority of accounting professionals view AI as enhancing rather than threatening their professional capabilities.
Comparative historical analysis reveals three distinct institutional pathways that developed economies have followed in accounting digitalization, each reflecting unique historical experiences and institutional legacies. The Nordic countries’ collaborative approach represents the culmination of decades-long institutional cooperation dating to the Nordic Council’s establishment in 1952, creating infrastructure for contemporary digital cooperation initiatives. Sweden’s pioneering role in electronic government systems during the 1970s and Finland’s early mobile technology adoption in the 1990s established the region’s technological leadership and enabled rapid digital convergence through established cooperation frameworks.
The Anglo-American approach reflects historical patterns from the 19th century industrial transformation, emphasizing market mechanisms over centralized coordination. The United Kingdom’s 1844 Joint Stock Companies Act and the United States’ 1933-1934 Securities Acts created regulatory frameworks encouraging private sector innovation while maintaining oversight, explaining why professional organizations and software companies drive technological adoption in these markets rather than government agencies.
Singapore’s developmental state model, rooted in post-independence strategic planning since 1965, demonstrates coordinated technology adoption through government-led initiatives. The mandatory XBRL implementation beginning in 2007 and government provision of free preparation tools reflect the historical pattern of state-led infrastructure development that characterized Singapore’s economic transformation. These three institutional pathways demonstrate how historical experiences shape contemporary digitalization strategies, providing crucial insights for other economies seeking to develop appropriate approaches that align with their institutional legacies and development contexts.
4.2 Late-mover Advantages and Path Choices of Emerging Economies
New emerging economies demonstrate remarkable technological leapfrogging potential in accounting function digitalization, transcending traditional developmental constraints through innovative pathway selections that capitalize on late-mover advantages unavailable to early-adopting developed nations. History demonstrates that developing nations are able to leapfrog older issues with infrastructure and immediately utilize sophisticated digital accounting programs. This provides opportunities for quicker advancement to worldwide best practices.
Leapfrogging allows developing nations to employ cloud-based bookkeeping systems without initially needing to invest heavily on conventional IT infrastructure. Data as of March 2024 indicate middle-income nations accounted for over 50% of global generative AI traffic, with India’s bookkeeping software industry reaching $5.75 billion due to robust cloud ERP adoption. These nations gain because they are late adopters of technology for the following reasons: learning from advanced countries, benefiting from existing technology gaps, and exploiting local innovation capability. Examples include South Korea adopting computerized bookkeeping during the 1990s and China transitioning to cloud-based bookkeeping during the 2010s.
There are three modes for developing nations to digitalize their bookkeeping. Path I: Direct Cloud Adoption involves the use of Software-as-a-Service platforms, eliminating local servers. China’s development of its digital economy demonstrates this path, transforming from following others to building innovations of its own within two decades, becoming the world’s second-largest digital economy. Path II: Mobile-First Strategy leverages mobile phones’ popularity to offer bookkeeping services with smartphone apps, suitable for areas with limited computers. Path III: Government-Led Integration relies on regulations and rules to accelerate adoption, such as India’s GST compliance regulations to prompt the use of full bookkeeping software.
Figure 5 indicates how developing nations rapidly adopt new technology. Figure 5a indicates faster means of adopting new technology, and Figure 5b indicates alternative means to achieve the same technology in a short period of time. Figure 5c indicates cloud-first strategies can save costs by approximately 60-70%. Figure 5d indicates these nations are now progressing much more rapidly than they used to, enabling them to bypass old constraints that hindered conventional growth.
Historical records indicate that late-mover opportunities can be successful. By 2024, 80% of non-IT employees will utilize low-code/no-code technology, assisting countries with limited programming expertise. New opportunities in mobile ERP and AI-based accounting systems provide great means for rapid technology expansion. Emerging markets can take the lead by leveraging new techniques rather than continuously making small increments.
Figure 5. Late-mover Advantages and Path Choices in Emerging Economies
The evidence cites that taking the right decisions can bridge the gap with technology in 8-12 years, whereas conventional methods take 15-20 years. This accelerated advancement is one of the greatest advantages of being a late entrant in digitalization, wherein new technologies can be adopted without being weighed down by legacy systems in developed nations. We can witness the impact of leapfrogging when we look at the pace at which various regions have picked up new technologies. Developed nations took 15-20 years to transition from manual accounting to ERP solutions (1990-2010), whereas emerging economies reached comparable stages in 8-12 years (2010-2022) using cloud-based solutions and bypassing older on-premise systems altogether.
4.3 Global Coordination of Accounting Function Digitalization in Multinational Enterprises
Multinational companies (MNEs) experience new and large issues in controlling digital accounting due to various rules, technologies, and cultures. Digitalization created complexity and altered the way they report their financials. It requires advanced systems that comply with local legislation but also operate above national legislation. This is a gigantic issue because the bigger 500 MNEs generated over USD 21 trillion in revenue in 2023, which is higher than the European Union’s GDP. They also need to handle a lot of other regulations that tend to have varying digital requirements.
The challenge of coordination is not simply a matter of applying new technology. It also encompasses significant questions regarding who controls the data, obeying laws, and how well things function. The MNEs must collaborate with numerous partners across the globe to foster digital sustainability through activities that foster teamwork and coordination. This teamwork must balance standard processes that are the same everywhere with the ability to obey local laws, resulting in what experts refer to as a “digital coordination paradox” where global efficiency and local compliance often conflict.
Modern MNEs have developed sophisticated coordination mechanisms that leverage both technological solutions and organizational innovations. Firm-level data processing and analysis capabilities mediate digitalization, with proprietary data serving as a valuable asset only to the extent that capabilities are available internally or externally to analyze it and make results available wherever needed. Leading MNEs have established global centers of excellence for accounting digitalization, creating hub-and-spoke models where centralized expertise supports localized implementation while maintaining global standards consistency.
How multinational firms collaborate has dramatically altered with international groups playing a larger role. The MEIP of the OECD and UNSD provides clear insights into the size, web presence, and media activities of the largest multinational firms (MNEs) globally. This platform assists by illustrating more than 130,000 foreign subsidiaries and 120,000 websites associated with the 500 largest MNEs. It assists individuals in comprehending the complex firm structures that complicate digital coordination.
Cross-border data flow governance represents one of the most critical coordination challenges for MNEs implementing digital accounting systems. Cross-border data flows are critical for today’s global economic and social interactions, underpinning international business operations, logistics, supply chains and global communication, while also amplifying concerns about privacy and data protection, intellectual property, digital security, and national security. Recent developments, such as the EU and China launching the Cross-Border Data Flow Communication Mechanism in August 2024, demonstrate the evolving regulatory landscape that MNEs must navigate.
The issue of cooperating is compounded by the way various countries deal with storing and controlling content on the web. Those businesses that sell across numerous states have complex legislation and regulations to navigate in using cloud services across the globe, so they must anticipate and prepare to implement these regulations and mitigate risk. Governments have created most legislation to keep personal data within borders, and this significantly impacts global strategy for keeping accounts synchronized.
Large organizations operating in multiple nations usually face issues with synchronizing their technology decisions. Such firms are employing hybrid cloud configurations that combine global connections with local policies. It is not very easy to make the best decisions here and requires thorough planning. This planning has to combine global efficiency with local policies, varying laws per region, data ownership policies, and operating expenses per region.
The coordination mechanisms employed by leading MNEs typically involve three layers of governance: strategic coordination at the corporate level, operational coordination at the regional level, and tactical coordination at the subsidiary level. At the strategic level, MNEs establish global digital accounting standards and policies that provide overarching frameworks while allowing for local adaptation. Regional coordination centers serve as intermediaries that translate global strategies into regionally appropriate implementations, accounting for common regulatory environments such as EU directives or ASEAN frameworks. Local subsidiaries then implement these coordinated approaches while ensuring compliance with specific national requirements.
The effectiveness of these coordination techniques differs quite a lot for diverse kinds of multinationals as well as industries. In 2022, there were 44.3 million employees of US multinationals globally, and US parent companies accounted for 68.3 per cent of global employees, indicating the quantity of coordination required. Tech and financial services multinationals tend to have more effective coordination techniques as they are internet-based and have to adhere to strict regulations, whereas traditional manufacturing multinationals struggle to integrate old systems within various work environments.
Firms are rapidly transforming digital accounting. Everyone must collaborate with each other in order to maintain stability as more individuals use digital money. New technologies such as machine learning and artificial intelligence are establishing new opportunities for collaboration, but they also present new issues regarding how transparent algorithms are and how to deal with AI across borders.
In order to both succeed and cooperate on a global basis, MNEs must build “digital ambidexterity,” which is being able to simultaneously address global standards and local needs. They must have advanced capabilities that combine technical expertise with an understanding of local culture and law. Top MNEs have built internal groups that bridge the gaps between areas, enabling them to collaborate and pass on experience while playing by the appropriate rules to ensure they are compliant with the law and minimize risks everywhere.
5 Future Trend Analysis of Accounting Functions under Digital Transformation
5.1 Potential Impact of Emerging Technologies on Accounting Functions
These emerging technologies blend computer technology developments following the history outlined in Chapter 2. The four phases of initial development (1950s-1980s) to the new transformations (2010s-present) reveal distinct patterns. These patterns allow us to see how forthcoming technologies will impact accounting work.
Artificial intelligence applications demonstrate the most immediate transformative potential through autonomous decision-making capabilities. AI can automate tasks like data entry, invoice processing, and reconciliation, while AI-powered tools provide predictive insights that help accountants keep pace with financial trends. Quantum computing represents paradigm-shifting potential for financial modeling and risk assessment. McKinsey estimates indicate that quantum computing use cases in finance could create $622 billion in value, with the most significant applications in corporate banking due to complex optimization problems.
Immersive technologies including augmented and virtual reality transform professional training methodologies. The global AR and VR education market reached $3.70 billion in 2023, growing at 26.7% annually. AR/VR technologies expand learning environment possibilities by reducing barriers from physical space and enhancing collaboration. Blockchain technology evolves toward comprehensive financial transparency. Blockchain has changed record-keeping through four themes: event approach, real-time accounting, triple entry-accounting, and continuous auditing.
As illustrated in Figure 6, the convergence impact analysis reveals distinct patterns across technologies and functions. Figure 6a demonstrates that AI exhibits the highest impact intensity across most accounting functions, with scores ranging from 4.2 to 4.9, while quantum computing shows concentrated high impact in measurement (4.9) and risk analytics (4.9) functions. Figure 6b presents the convergence impact distribution, revealing that decision support and risk analytics functions experience the highest average transformation intensity (4.7 and 4.6 respectively). Figure 6c illustrates technology readiness trajectories, showing AI reaching 99% readiness by 2030, while quantum computing follows an accelerated adoption curve from 15% (2024) to 95% (2035). Figure 6d demonstrates the historical evolution pattern, indicating that the current convergence period represents exponential acceleration compared to previous transformation phases.
Figure 6. Emerging Technologies Convergence Impact on Accounting Functions
The professional implications extend beyond technological adoption to fundamental reconceptualization of roles. 58% of accounting professionals recognize that machines cannot build human relationships or combine intuition with experience for client service, while future accountants need technical proficiency aligned with AI, blockchain, and cloud computing technologies. History teaches us there are periods of change and they produce opportunities to challenge the boundaries between occupations. This is the period when double-entry bookkeeping and the electronic computer were invented.
5.2 Future Landscape of Accounting Function Evolution
The ways that accounting will evolve indicate a clear transition from the subject matters within the preceding chapters to a fresh perspective on professional roles and organizational settings. With the quadruple helix model as described within Chapter 3, future evolution will integrate technology, institutions, markets, and organizations more rapidly, transforming the functions of accounting within business environments.
The transformation of accountants into key business partners displays the conclusion of what we have observed historically. Beyond traditional bookkeeping and tax compliance, 80% of accountancy firms are seeing increasing client demand for financial planning, business strategy and technology consulting services, with accountants focusing on delivering insights into financial planning, risk management, and business growth strategies. This evolution continues the pattern established during the transformation period, where decision support functions expanded beyond traditional reporting toward predictive analytics and strategic intelligence generation.
Environmental, Social, and Governance reporting emerges as a defining characteristic of future accounting functions, extending the historical pattern of regulatory compliance evolution observed since the Sarbanes-Oxley implementation during the maturity period. Companies, investors and consumers are frustrated by a lack of standardized accounting for corporate ESG performance, with accounting and finance roles becoming critical to ensure quality and consistency of ESG reporting. 67% of investors believe that ESG has increasingly become more important to investment policy over the past five years, with environmental factors as a driving force.
Future accounting competencies demonstrate systematic integration of emerging technologies with traditional professional skills, following the generation logic established in Chapter 3. Technical accounting and tax knowledge remain foundational, but their relative importance has changed due to advancements in technology and data analytics, requiring new skills in AI, big data, cybersecurity, and compliance analytics. 41% of accountants want to dedicate more time to improving their skills, with automating repetitive tasks freeing up time for professional development.
As illustrated in Table 1, the future evolution trajectory demonstrates three distinct phases of professional transformation spanning 2025-2035. The institutional evolution demonstrates convergence toward standardized global frameworks while maintaining local adaptation capabilities. In 2025, several key things will occur: better digital technology, global reporting rules, and other kinds of regulations. We have seen in history that periods of change tend to have rapid changes rather than gradual ones. This implies rapid changes during the next decade, such as when double-entry bookkeeping or electronic computing began.
Table 1. Future Evolution Trajectory of Accounting Functions (2025-2035)
| Transformation Phase | Time Period | Core Functions Evolution | Technology Integration | Professional Competencies | Institutional Framework |
| Strategic Integration | 2025-2027 | Advisory services expansion (80% demand growth); ESG reporting standardization; Real-time financial intelligence | AI-powered analytics adoption; Cloud-native platforms; Blockchain audit trails | Technology literacy (57% priority); Data interpretation skills; Strategic communication | Global ESG standards convergence; Regulatory harmonization |
| Intelligent Automation | 2028-2031 | Predictive risk management; Autonomous compliance monitoring; Continuous audit capabilities | Quantum computing applications; Immersive training platforms; Advanced AI integration | Hybrid technical-strategic skills; Cognitive augmentation proficiency; Cross-functional collaboration | Quantum-resistant cryptography standards; Digital governance frameworks |
| Ecosystem Orchestration | 2032-2035 | Business ecosystem coordination; Stakeholder value optimization; Sustainability impact measurement | Fully integrated digital ecosystems; Autonomous decision support; Cognitive computing | Strategic business partnership; Innovation facilitation; Ethical AI governance | Global harmonized standards; Adaptive regulatory frameworks |
Key Performance Indicators by Phase: 2025-2027: 80% firms offering advisory services; 67% ESG integration; 41% skill development focus,2028-2031: 90% automation adoption; 75% predictive capabilities; 60% quantum readiness,2032-2035: 95% ecosystem integration; 85% strategic impact; 80% sustainability focus.
Historical Continuity Patterns: Technological Propulsion: Exponential acceleration from electronic computing → personal computers → internet/ERP → cloud/AI → quantum/cognitive, Institutional Adaptation: Regulatory compliance evolution from manual → electronic → integrated → intelligent → autonomous, Professional Evolution: Skill transformation from mechanical → computational → analytical → strategic → orchestrative.
6 Discussion
The comprehensive investigation of how digitalization impacts conventional accounting reveals significant concepts beyond mere application of new technology. It involves transforming people’s ways of thinking about business opportunities and work roles. This research indicates that we are at a significant period in the history of accounting, just like in some other significant periods in the past. Through this perspective, digitalization, accounting, and accountability create avenues for future studies in public services [18]. The four-component system identified in this research provides a solid platform to learn how technology, rules, market competition, and organizational change cooperate to generate forces of change, hence influencing the role of accounting in contemporary business.
History has established that digitalization is not merely what both people and machines can accomplish. It gives rise to new skill sets that combine the old management functions with intelligent business choices. The effects of digital transformation on the accounting profession demonstrate that professionals whose profession needs radical change must adapt to this digital transformation without delay to survive professionally and economically [10]. Digital transformation impacts internal auditing through technological advancement that fundamentally alters audit processes, risk assessment methodologies, and professional competency requirements [9]. This transformation pattern reflects the systematic logic underlying accounting’s evolution from reactive documentation toward proactive strategic guidance, where emerging functions represent qualitative expansions of professional capabilities rather than simple automation of existing processes.
The research across various countries reveals the use of digital technology in accounting by developed and emerging economies. Every country has its own institutions and history that decide how they transform today. In public sector audit, digital changes reveal how leading audit institutions transform their practices to remain up-to-date with technology and yet remain accountable [15]. Individual skills, specific tasks, and external factors contribute a lot to digital changes and new concepts in auditing. This reveals how personal skills, technology requirements, and company circumstances interact in an intricate manner [16]. New developments reveal how digital changes benefit by enhancing existing procedures and developing new skills that entirely transform financial systems [21].
Recent experiments with machine-learning algorithms and robotic-process automation show how engineers are bending time-honoured bookkeeping routines into live dashboards that refresh every few seconds [11]. In practice, the novelty often lies in housekeeping tasks that now dust themselves—things like data ingestion, reconciliation, and hit-or-miss number-crunching that once demanded an auditor’s full morning. Banks using cloud-ledger stacks have started shipping a prototype that bundles regulatory alerts, workflow approvals, and month-end close notes into one neat portal; accountants inside the pilot call the side effect business insight on caffeine [32]. North American policy wonks are sketching an AI tax engine on the whiteboard, arguing that self-learning scripts will push return preparation from desk to dashboard and nudge tax professionals toward roles that no client has probably even named yet [34].
Technology no longer lounges at the perimeter of finance; it shuffles inward, elbows out, and suddenly every fresh gadget magnifies the suite of strategic levers that accountants can pull inside decision-making circles [30]. Historians of the profession, watching from the sidelines, record how routine duties, key players, and even the old guardians of the numbers start bending and blending under the weight of artificial intelligence; the upshot is a toolkit in which code fluency now sits beside conventional cash-flow forecasting [35]. At street level, finance teams discover that stitching together cloud applications and shared ledgers lets them direct entire business ecosystems rather than simply guarding the edges of budgets and balance sheets. Glancing toward the horizon, that hybrid future will look something like yesterday’s precise bean-counting, yet it will swap stale record-keeping for real-time business intelligence that protects fiduciary trust while thrusting stakeholder value into plain view.
7 Conclusions
This extensive research examines how digitalization influences traditional accounting. It illustrates how accounting evolves from simple management to sophisticated business intelligence. This study proposes that digitalization in today’s era is an expansion of existing trends and an evolution of skills altering the way businesses operate and generate value. With an examination of four phases ranging from inception to transformation, this writing illustrates how newer technology enhances existing skills and introduces fresh tasks beyond routine accounting. This provides companies with numerous opportunities to transform based on a strategy incorporating technology, institutional pressure, market forces, and organizational change.
History demonstrates that digital technology retains crucial skills and work and makes accountants increasingly valuable for activities such as business intelligence, risk assessment, and strategic consulting. This implies that accountants are valuable decision-making partners for organizations. Examination of developing and advanced economies illustrates various ways they are advancing towards digitalization depending on their histories as well as developing similar capabilities. This illustrates that those who embrace new technology later can pivot rapidly with the right options and by applying leapfrogging techniques. Advances in artificial intelligence, blockchain, quantum computing, and immersive technology have impacts that increase rather than accumulate. This implies that the accounting future will involve sustainability reporting, real-time synchronization of business processes, and the creation of value to stakeholders. Accountants will continue to perform traditional work but will also transcend normal professional boundaries by technology and better thinking. Ultimately, accounting will transform to become an essential function of business intelligence required to thrive in the digital economy.
References
1. Julius, S.A., The Digital Transformation of Accounting Standards: Past Developments, Current Practices, and Future Directions for Research. International Journal of Novel Research in Marketing Management and Economics, 2024. 11(3): p. 94-108.
2. Gonçalves, M.J.A., A.C.F. da Silva, and C.G. Ferreira. The future of accounting: how will digital transformation impact the sector? in Informatics. 2022. MDPI.
3. Busulwa, R. and N. Evans, Digital transformation in accounting. 2021: Routledge.
4. Surya, B.T.M., Revolutionizing accounting through digital transformation: the impact of technology. Engineering Science Letter, 2024. 3(01): p. 6-10.
5. Yigitbasioglu, O., P. Green, and M.-Y.D. Cheung, Digital transformation and accountants as advisors. Accounting, Auditing & Accountability Journal, 2023. 36(1): p. 209-237.
6. Lombardi, R. and G. Secundo, The digital transformation of corporate reporting–a systematic literature review and avenues for future research. Meditari accountancy research, 2021. 29(5): p. 1179-1208.
7. Kraus, S., et al., Digital transformation: An overview of the current state of the art of research. Sage Open, 2021. 11(3): p. 21582440211047576.
8. Reis, J. and N. Melão, Digital transformation: A meta-review and guidelines for future research. Heliyon, 2023. 9(1).
9. Pizzi, S., et al., Assessing the impacts of digital transformation on internal auditing: A bibliometric analysis. Technology in Society, 2021. 67: p. 101738.
10. Sabuncu, B., The effects of digital transformation on the accounting profession. Ömer Halisdemir Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 2022. 15(1): p. 103-115.
11. Odonkor, B., et al., The impact of AI on accounting practices: A review: Exploring how artificial intelligence is transforming traditional accounting methods and financial reporting. World Journal of Advanced Research and Reviews, 2024. 21(1): p. 172-188.
12. Yaqub, M.Z. and A. Alsabban, Industry-4.0-enabled digital transformation: Prospects, instruments, challenges, and implications for business strategies. Sustainability, 2023. 15(11): p. 8553.
13. PHORNLAPHATRACHAKORN, K. and K. NA KALASINDHU, Digital accounting, financial reporting quality and digital transformation: evidence from Thai listed firms. The Journal of Asian Finance, Economics and Business, 2021. 8(8): p. 409-419.
14. Hanelt, A., et al., A systematic review of the literature on digital transformation: Insights and implications for strategy and organizational change. Journal of management studies, 2021. 58(5): p. 1159-1197.
15. Otia, J.E. and E. Bracci, Digital transformation and the public sector auditing: The SAI’s perspective. Financial Accountability & Management, 2022. 38(2): p. 252-280.
16. Barr‐Pulliam, D., H.L. Brown‐Liburd, and I. Munoko, The effects of person‐specific, task, and environmental factors on digital transformation and innovation in auditing: A review of the literature. Journal of International Financial Management & Accounting, 2022. 33(2): p. 337-374.
17. Plekhanov, D., H. Franke, and T.H. Netland, Digital transformation: A review and research agenda. European management journal, 2023. 41(6): p. 821-844.
18. Agostino, D., I. Saliterer, and I. Steccolini, Digitalization, accounting and accountability: A literature review and reflections on future research in public services. Financial Accountability & Management, 2022. 38(2): p. 152-176.
19. Mohsen, S.E., A. Hamdan, and H.M. Shoaib, Digital transformation and integration of artificial intelligence in financial institutions. Journal of Financial Reporting and Accounting, 2025. 23(2): p. 680-699.
20. Guo, L. and L. Xu, The effects of digital transformation on firm performance: Evidence from China’s manufacturing sector. Sustainability, 2021. 13(22): p. 12844.
21. Bodrožić, Z. and P. S. Adler, Alternative futures for the digital transformation: A macro-level Schumpeterian perspective. Organization Science, 2022. 33(1): p. 105-125.
22. Subramanyam, S.V., Cloud computing and business process re-engineering in financial systems: The future of digital transformation. International Journal of Information Technology and Management Information Systems (IJITMIS), 2021. 12(1): p. 126-143.
23. Leão, P. and M.M. da Silva, Impacts of digital transformation on firms’ competitive advantages: A systematic literature review. Strategic Change, 2021. 30(5): p. 421-441.
24. Tian, M., et al., The role of digital transformation practices in the operations improvement in manufacturing firms: a practice-based view. International Journal of Production Economics, 2023. 262: p. 108929.
25. Jardak, M.K. and S. Ben Hamad, The effect of digital transformation on firm performance: evidence from Swedish listed companies. The Journal of Risk Finance, 2022. 23(4): p. 329-348.
26. Dayıoğlu, M.A. and U. Turker, Digital transformation for sustainable future-agriculture 4.0: A review. Journal of Agricultural Sciences, 2021. 27(4): p. 373-399.
27. Song, Y., et al., The digital transformation of a traditional market into an entrepreneurial ecosystem. Review of Managerial Science, 2022. 16(1): p. 65-88.
28. Kanaparthi, V. Exploring the impact of blockchain, AI, and ML on financial accounting efficiency and transformation. in International Conference on Multi-Strategy Learning Environment. 2024. Springer.
29. Tsiligiris, V. and D. Bowyer, Exploring the impact of 4IR on skills and personal qualities for future accountants: a proposed conceptual framework for university accounting education. Accounting Education, 2021. 30(6): p. 621-649.
30. Leitner-Hanetseder, S., et al., A profession in transition: actors, tasks and roles in AI-based accounting. Journal of applied accounting research, 2021. 22(3): p. 539-556.
31. Javaid, M., et al., Digital economy to improve the culture of industry 4.0: A study on features, implementation and challenges. Green Technologies and Sustainability, 2024: p. 100083.
32. Al-Okaily, M., et al., The role of digital accounting transformation in the banking industry sector: an integrated model. Journal of Financial Reporting and Accounting, 2023. 22(2): p. 308-326.
33. Mattei, G., G. Grossi, and J. Guthrie AM, Exploring past, present and future trends in public sector auditing research: a literature review. Meditari Accountancy Research, 2021. 29(7): p. 94-134.
34. Ezeife, E., et al., The future of tax technology in the United States: A conceptual framework for AI-driven tax transformation. Future, 2021. 2(1): p. 101203.
35. Bisht, D., et al., Imperative role of integrating digitalization in the firms finance: A technological perspective. Electronics, 2022. 11(19): p. 3252.