An Empirical Investigation of the Impact of Artificial Intelligence on Accounting Practice in Nigeria

Abstract

This study carried out an empirical investigation on the impact of artificial intelligence on accounting practice in Nigeria. The study adopted a survey research design. Data for the study were extracted from one hundred and forty-eight (148) respondents extracted from selected organizations in Abuja. A questionnaire was used as the primary instrument for data collection. The data were analyzed with the aid of frequency tables and percentages and the hypotheses were tested with probability values extracted from the regression output. The major findings of the study revealed that expert systems and neural networks contribute positively and significantly to accounting practice in Nigeria. The implication of this finding is that any accountant that does not arm their skills with the knowledge of artificial intelligence software, may become irrelevant in the nearest future. It is therefore the recommendation of this study that accountants should attend seminars and workshops on modern accounting methodical practices in order to further their knowledge of and proficiency with artificial intelligence technologies, which will increase their dynamism in functional accounting activities and secondly; to prepare upcoming accountants for what lies ahead in the business world, the government should incorporate artificial intelligence courses into accounting at the undergraduate and graduate levels in tertiary institutions.