Digitalization : a danger to accounting professionals?

Abstract

PURPOSE: Nowadays, we talk about an increasing number of tools in the IT area that are being used in the accounting field. We can already discuss automation, robotics, artificial intelligence, and digitalization in accounting practices. This reality is giving rise to more and more discussions about how the era of digitalization of processes influences or will influence the activity carried out by accountants. In this context, our study aims to establish to what extent this new reality in the practice of economic entities is advantageous for professionals in the field or, on the contrary, is a threat from the perspective of taking over tasks, operations or activities that accountants currently still have in their portfolio.

METHODOLOGY: Therefore, using scientific research tools, we will try to clarify whether the accounting profession and professionals are threatened by the developments observed due to the increasing advances that are taking place in digitalization. The research undertaken is based on the analysis of speciality literature, the regulatory framework applicable to accounting in Romania, and the accounting officer based on International Financial Reporting Standards.

RESULTS AND FINDINGS: The study aims to identify the advantages and threats that digitalization induces in the field of accounting practice and the major paradigm shifts that digitalization will bring to the exercise of the profession by accountants. The study will also look at the limitations that digitalization has in the field of accounting and the significant changes that digitalization will impose on the education and training of professionals in the field of accounting.