Current Issues in Accounting: Emerging Challenges and Opportunities in a Shifting Financial Landscape in Nigeria
Year: 2025
Type: article
Abstract: The growing complexity of technology, regulations, and business practices is transforming the accounting industry. This case study analyzes the strategic opportunities and challenges facing accountants in an environment that employs AI, blockchain, big data, and cloud computing. While technology deepens insights and automates tasks, it also poses serious challenges such as unemployment, data security, and ethical dilemmas. Furthermore, innovation economies experience sluggish regulatory response in domains like digital assets and ESG (Environmental, Social, and Governance) reporting, adding to the complexity and uncertainty. Modern accountants cannot simply record transactions; they must offer strategic advice, manage risks, assign value, and require new technological, analytical, and ethical competencies. This study demonstrates, through systematic literature review and thematic analysis, a lack of documented standards and guidelines in the accounting profession, resulting from the unaddressed gaps within rigorous expectations. It was further highlighted that the profession will retain relevance and public trust, along with emerging opportunities, by professionally adapting, committing to advanced education, and innovating within the rapidly evolving financial environment. The study recommends that government and regulatory bodies should prioritize continuous learning, create a common ethical standard for digital assets and revisit the curriculum to fill the skill gaps.
Institution: Ekiti State University
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W4414829027
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