Entrepreneurial readiness within accountants in the big 4 firms in Malta

Abstract

Purpose: Entrepreneurial readiness is a fundamental characteristic required from the modern day accountant in response to the digitalisation of compliance functions and in pursuit of the creation of value for clients. This study aims to provide an initial measurement for the entrepreneurial readiness of accountants employed within the Big 4 firms in Malta. Design: The analysis was conducted through the use of a questionnaire-based tool which has been designed through a thorough analysis of scientific literature encompassing the sociological, psychological and entrepreneurship and business management perspectives of entrepreneurial readiness. The results were subsequently validated with representatives from each of the Big 4 firms to obtain further insight into the causes of such findings. Findings: Accountants employed within the Big 4 firms in Malta exhibited an average entrepreneurial readiness score of 5.418 which is described as a discrete level of entrepreneurial readiness. The firm in which the accountant was employed and gender were found to be common statistically significant determinants in one‘s entrepreneurial readiness score while the choice and aspiration of department and route to obtaining an accounting qualification were generally not found to be statistically significant. Conclusions: The findings suggest that the local accounting population lacks entrepreneurial characteristics and thus accounting firms and educators should be encouraged to take corrective action in this regard. Furthermore the findings also highlight the presence of a gender gap in relation to entrepreneurial readiness which emphasises the unlocked potential of local female accountants. Value: This research provides the initial measurement for entrepreneurial readiness and discusses the necessary adaptation of accounting professionals in pursuit of fulfilling the role of an accountant in a modern business environment.