The Impact of Big Data on Accounting Practices: Empirical evidence from Africa

Mandella Osei-Assibey Bonsu, Naheed Roni, Yongsheng Guo

Research output: Chapter in Book/Report/Conference proceedingChapter


Big data is much more than accounting and financial data. Big data including financial and non-accounting data have become accessible in immense volumes in distinct forms and in real time. The use of big data for accounting is immobile in initial periods. However, academics have predicted that having high-quality accessible and accelerated in real time might lead to more comprehensive financial reporting.
Literature on big data is inconclusive, theoretical and dearth empirical studies and models. This prompted us to explore the impacts of big data on accounting using accountants in an African emerging country, Nigeria. We use multiple regression over 151 responses. Samples were collected using a random sampling method. Evidence results show that big data has positive and significant impact on financial reporting, performance management, corporate budgeting, audit evidence, risk, and fraud management. Moreover, evidence indicates that while big data significantly impact accounting and auditing of accountants, utilizing the diversity of data volume, data variety and data velocity significantly enhances it.
The study can help accountants, prospective accountants, and accounting graduates to hone their competencies in studying and producing big data analytics, which will benefit the industry. Moreover, business institutions of higher learning should create business curriculums that use big data in their offerings. Finally, policymakers can help by establishing governance models for big data to organise its usage and prevent its exploitation.
Original languageEnglish
Title of host publicationNovel Financial Applications of Machine Learning and Deep Learning
Subtitle of host publicationAlgorithms, Product Modeling, and Applications
EditorsMohammad Zoynul Abedin, Petr Hajek
Number of pages25
ISBN (Electronic)9783031185540
ISBN (Print)9783031185519
Publication statusPublished - 11 Dec 2022

Publication series

NameInternational Series in Operational Research & Management Science
PublisherSpringer Cham
ISSN (Print)0884-8289
ISSN (Electronic)2214-7934


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