An Analysis on the Big Four Accounting Firms in Ghana, With a Focus on Blockchain Technology in Accounting and Auditing, Exploring Obstacles and Unlocking Opportunities for Digital Transformation
Year: 2024
Type: article
Study design: Observational Study
Abstract: ABSTRACT Purpose This paper aims to investigate the perceptions of Ghanaian accountants and auditors working in the big four accounting firms in Ghana (PricewaterhouseCoopers (PwC), Klynveld Peat Marwick Goerdeler (KPMG), Ernst & Young (EY) and Deloitte and Touche Tohmatsu (Deloitte)), regarding the impact of implementing blockchain technology in the accounting ecosystem. Specifically, it will explore the perceptions of Ghanaian auditors on the effect of blockchain on auditing processes and procedures, the potential benefits and opportunities of blockchain in the auditing ecosystem, and the challenges associated with adopting blockchain in accounting and auditing in Ghana. Methodology This study employed a quantitative research design, using a structured questionnaire to gather data from participants. Data was collected using a Google Form consisting of both closed and open-ended questions to gather qualitative and quantitative data. The questions were designed to address specific research objectives and were pre-tested with a small sample to refine clarity and relevance. Next, a target population was identified, and a non-probability sampling technique, such as convenience sampling, was employed to select participants. Collected data was analysed using statistical software (Microsoft Power Bi and Microsoft Excel) to perform descriptive and inferential statistics, while qualitative responses were thematically analysed to identify patterns and insights. Participant anonymity was ensured and informed consent was obtained prior to participation. Findings This revealed low-to-moderate awareness of Blockchain-based accounting systems. Also, there was significant evidence of the use of blockchain technology in the big four audit firms. The benefits and challenges of Blockchain-based accounting systems were ascertained in this study. Managerial and Theoretical Implications The results provide valuable insights for auditors, researchers and policymakers.
Authors: Aidoo, Abigail Maame Adwowa, Tay, Cybil Dzifa, Thompson, Marie-Louise, Ampofo, Rhema-Danielle, Ogbarmey Tetteh, Daniel (Jnr)
Institution: University of Ghana
Language: English
Subfield: Information Systems
Field: Computer Science
Domain: Physical Sciences
Open Access status: green
OpenAlex ID: W7106313441
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