The Impact of Digitalization on Existing Gaps in Reliability and Independence of Financial Statements a Study Of The Corporates in Kosov

Blinera SylejmaniFollow

Session

Management, Business and Economics

Description

The business environment is changing faster than ever, with technology disruptions and recreating the way companies perform basic processes. The aim of this qualitative and exploratory study is to increase the understanding of the effects digitalization has on the tools and working methods in financial statements. This is achieved through 40 semi-structured interviews with some accountant and auditors that works or has worked in the biggest corporates in Kosovo, where emphasis is put on interpretation.

This paper describes what digitization means and how it is perceived, what is the effect of the work of accountant and auditors, what will be the impact it will have in the future in financial statements.

Conclusions drawn are that the effect on the accountants and auditors’ working methods are more prominent than on the tools, due to paperless working methods and increased flexibility. Unlike previous research, this study also discovers an increasing effect which is the digital transformation of processes that consists in adapting the company's processes to the new digital environment. Thereby, education is underlined as important among accountants and auditors, where corporates have to develop available education to the new competence needed.

Keywords:

Effects, Digitalization, Tools, Working methods, Financial Statements

Proceedings Editor

Edmond Hajrizi

ISBN

978-9951-550-95-6

Location

UBT Lipjan, Kosovo

Start Date

28-10-2023 8:00 AM

End Date

29-10-2023 6:00 PM

DOI

10.33107/ubt-ic.2023.172

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Oct 28th, 8:00 AM Oct 29th, 6:00 PM

The Impact of Digitalization on Existing Gaps in Reliability and Independence of Financial Statements a Study Of The Corporates in Kosov

UBT Lipjan, Kosovo

The business environment is changing faster than ever, with technology disruptions and recreating the way companies perform basic processes. The aim of this qualitative and exploratory study is to increase the understanding of the effects digitalization has on the tools and working methods in financial statements. This is achieved through 40 semi-structured interviews with some accountant and auditors that works or has worked in the biggest corporates in Kosovo, where emphasis is put on interpretation.

This paper describes what digitization means and how it is perceived, what is the effect of the work of accountant and auditors, what will be the impact it will have in the future in financial statements.

Conclusions drawn are that the effect on the accountants and auditors’ working methods are more prominent than on the tools, due to paperless working methods and increased flexibility. Unlike previous research, this study also discovers an increasing effect which is the digital transformation of processes that consists in adapting the company's processes to the new digital environment. Thereby, education is underlined as important among accountants and auditors, where corporates have to develop available education to the new competence needed.