ABSTRACT
The study was to substantiate the influence of ICT on the role of accountants and find out if Accountants are still relevant. In this study, five performance proxies were considered. The main objective was to determine the extent to which Information Communication Technology has influenced the role of Accountants and the specific objectives sought were to: ascertain the relevance of Accountants, ascertain the impact of ICT on Accountants performance, evaluate the degree to which ICT had influenced their involvement in decision making process, examine if Accountants still add value to their work. The requisite data for this study  were  extracted  from the  questionnaire  administered  to  four sectors of the economy. Other data were collected from books, journals and websites. Data were analysed using correlation coefficient, T-test and use of simple regression analysis at 0.05 probability level of acceptance. The Cronbach’s alpha was used to test the reliability of instrument and a value of 0.635 was derived. The result revealed that Information Communication Technology has influenced the role of Accountants in Nigeria and it was recommended among others that for Accountants  to  remain  relevant  in  the  information  age,  they must embrace  ICT.  The  contribution  to  knowledge  was  that  inspite of the impact of ICT on Accountants, yet we still need Accountants with knowledge,  skill and abilities to interpret data for informed  decision making.
CHAPTER ONE INTRODUCTION
1.1 Background of the Study
Businesses all over the world continuously seek to improve the efficiency of their operations in order to achieve higher profitability. Information systems and technologies are some of the most important tools available to managers for achieving higher levels of efficiency and productivity in business operations, especially when coupled with changes in business practices and management behaviour.
Kenneth and Jane (2010), defined information technology as one of many tools that managers use to cope with change. From the above, it means that Accountants who are also managers need information technology, not only to cope with changes but also to enhance their performances and make informed decisions.
Modum (2005) stressed also that changes in technology have altered the role of Accountants. Traditionally, accounting information has its own set of specific functions and has relied on its own devices such as journals and ledgers, and its own procedures, double-entry book-keeping.
Kenneth and Jane (2010), also emphasized that A continual stream of information technology innovations is transforming the traditional business world. Exactly how do information systems enhance  accounting  process?  Information  systems  automate many steps in accounting processes that were formally performed manually, such as checking of clients’ credit, or generating an invoice and shipping order. But today, information technology can do much more. New technology can actually change the flow of information, making it possible for many more people to access and share information, replaces steps with tasks that can be performed simultaneously, and eliminating delays in decision making.
Why are businesses investing so much in information systems and technologies? In Nigeria today and most African countries, information systems are essential for accounting for day-to-day business as well as achieving strategic business objectives (Kenneth and Jane, 2010). This means that accounting as a service activity can not operate without information communication technology. In as much as information technology helps the Accountants to perform efficiently and at a faster rate, yet organizations need Accountants to interpret the information and implications to management members for decision making. What is the essence of generating figures without interpreting their implications?
According to Modum (2005), the original use of computers in accounting focused on automating the record keeping function manual books were replaced by computer “books”. The automated system  retained  the  same  functions,  orientation  towards  the accounting cycle and retained an emphasis on financial statement as in the traditional view.
However, today there has been tremendous growth in the number of computer-generated transactions and greater level of automation. Automated application for payroll, pension, accounting, human resources and other sophisticated accounting software have been installed over the years to handle the various operations involved.
In the words of Adeoyin, (2010) Also, connection of computers over local area network (LAN) and wide area network (WAN) have been implemented in various offices for efficiency. Moreover, accounts information and balances and data on staff are kept in computer databases and systems such that information has become strategic resource and leverage for competitive advantage.
It is pertinent to know that the world has been “flattened” by information technology Kenneth and Jane (2010). Electronic commerce and internet has enabled  applications  with complex interface  and  different  accounting  software  and  enterprise resources planning systems to be installed in offices and different organizations in both the public and private sector. This has resulted in dependence of businesses and establishments on information technology and its tools for daily operations (Adedoyin , 2010).
From the above, it can be inferred that Accountant performs a lot of different activities or combinations of activities Jablonsky, Kenting et al, (1993). These different activities which Accountants perform come in different ways – recording, classifying, sorting analyzing, and interpreting business data to produce information for decision making. Before now, emphasis on these functions were purely financial measures in the form of profit determination, control of resources, facilitation of decision making, proper accountability – stewardship Talabi Adedoyin (2010). Colin Drury (2013) also said that traditional Accountants role was then based on cost control, revenue growth and asset utilization.
In some organizations, we have the Financial Accountant and the Management Accountant. The Financial Accountant prepares information for both internal and external use while the Management Accountant prepares information for internal use. In some other organizations, we have a situation where one Accountant performs both functions – hybrid Accountant. For the purpose of this study, we shall refer to all of them as simply Accountants since the raw product of their work is the provision of information for decision making.
The roles of Accountants are going under considerable changes  as  a  result  of  Information  and  Communication Technology  (Burns  and  Baldvinsdottir,  2005),  Caglio  2003, Vestegen De Loo et al 2007).
ICT has  shifted  the  traditional  Accountants  activities  to newer and more value-adding  activities, that is, from financial historians  to  business  partners  (Russel,  Siegel  and  Kulesza, 1999).
In today’s business world, the Accountants function is no longer based on financial performance measures only but on both financial and non-financial measures of performance known as the balanced score card. In order to compete successfully in a global economic environment in which ICT has taken a centre stage, financial and non-financial performance measures that provide feed back on key variables, have been introduced by most organizations (Colin Drury 2013). Accountants are now involved in so many activities of the organizations such as competitor performance appraisal, competitor cost assessment strategic costing, value chain costing, Brand value monitoring, attribute costing, Brand value budgeting, competitive position monitoring and strategic pricing. (Colin Drury 2010).
The reporting requirements of most organizations have changed and expanded due to rapid growth and globalization and what has really reduced some of the work load on the database is the use of ICT (Accounting packages). ICT has made it easier to cross-examine data far more efficiently now compared to what it used to be.
1.2 Statement of the Problem
In this information age, there have been dramatic changes in the nature of industry and it is likely that the future will bring even more changes. The environment and industrial activities have become volatile. There is equally increasing usage of computers in industries and service-oriented organizations in generating information to make an informed decision. Accountancy profession is not left out in this change.
According to Lucey (2003), the role of Accountants as the sole or primary suppliers of information to management is being challenged by other information specialists including systems analysts, operation researchers, managerial economists, computer scientists and information technology experts etc. This means that the role of Accountants are changing from traditional function to a more complex and challenging role as a result of information technology.
Sequel to the above, there is this perception among the general public that in this era of information technology, Accountants are no longer relevant. The possible reason for this perception might be that since it is believed that computer “can do anything” if given the appropriate command using a program, then why hire an Accountant? To what extent is the perception   true?  Are  these  manual  jobs  for  which  the traditional Accountants are known for no longer exist? The focus of this study therefore is to offer an empirical evidence to substantiate the impact of ICT on the performance and role of Accountants and also ascertain if Accountants are still relevant.
1.3 Objectives of the Study
The main objective is to determine the extent to which ICT
has influenced the performance of Accountants. The specific objectives sought are to:
(i) Ascertain the relevance of Accountants in this information age.
(ii) Ascertain the impact of ICT on Accountants performance.
(iii) Evaluate the degree to which ICT has influenced Accountants involvement in the decision making process of the organization.
(iv) Examine if ICT is sufficient on its own to be depended upon for information decision making.
(v) Investigate if Accountants still create added value in this information era.
1.4 Research Questions
In the light of the above the following research questions have been formulated to guide us.
1) To what extent would you agree that Accountants are still relevant in this information age?
2) To what degree would you agree that Information communication technology skill has impact on the performance of Accountants?
3) To what extent would you agree that Information Technology influenced the involvement of Accountants in the decision- making process of organisations?
4) How far will you agree that information communication technology is sufficient on its own to be depended upon for informed decision making by end users?
5) To what extent would you agree that Accountants can not create added value in this information era?
1.5 Research Hypotheses
Our hypotheses for the study are as follows:
H1: Accountants are no longer relevant in this information age
H2:  There  is  no  significant  relationship  between  Information Technology and the performance of Accountants.
H3: There is no significant relationship between Information Technology and Accountants involvement in decision making process.
H4: Information Technology is not sufficient on its own to be depended upon for informed decision making.
H5:Â Â There is no positive and significant relationship between ICT and added value creation by Accountants.
1.6 Scope of the study
This research covers the perception of both Accountants in practice and in employment at senior management levels. This study would be restricted to four organisations representing Academic-Delta State University Abraka; Banking-First Bank of Nigeria Plc, Asaba; Service-oriented Organisations-SAO & Co (Chartered Accountants) and Manufacturing-Suiming Nig. Ltd., Asaba.
While this limitation has to a large extent be eliminated by the population selection and method of data collection and analysis, it remains an absolute fact that 100 responses can hardly be said to be truly representative outcome.
Also, this study focused mainly on organizations in the private sector as a survey apart from the academic sector. For the purpose of an indebt analysis, it would have been interesting to adopt the approach of a comparative study of organizations in both private and public sectors.
Again, the study was limited to a survey of four organisations due to difficulty in accessing other organizations. The researcher acknowledges the limitation of this approach and that an extended study may well be benefited from an examination of organizations on both sectors of the economy.
The data for statistical analysis will be based largely on questionnaire and interviews.
1.7 Significance of the Research
This study will be of great significance to the organisations surveyed, the society, analyst and other researchers and it will serve as a data bank for further study.
a) Significance to the Government, and specified Surveyed
Organisations and Accountants
It is evident from the growth in our economy, influx of foreign investment and globalisation that a great number of additional qualified Accountants will be required in the financial  services  and  accountancy  profession  in  the economy,  both  private  and public.  This  includes professional  to  work  in banking,  telecommunications,  oil and gas,  pension  funds,  micro  finance,  mortgage institutions, insurance, accountancy practice, ministries, parastatals and non-governmental agencies etc. The key factors that will influence the sector are likely to be information technology regulation and compliance requirements.  Accountants  will therefore,  have  to demonstrate advanced IT and software skills as well as the softer skills of communication, teamwork and management (Adedoyin, 2010). This study will be an eye opener to every Accountant – both in practice, employment and students as well, to embrace information technology. Small and Medium Scale Enterprises (SMEs) are required to have skilled Accountants that can keep accurate and complete records of its operations before they have access to loan by the Bank of Industry.
b) Significance to analyst and researchers
In the academic arena this study will prove to be significant in the following ways:
(i) It will contribute to the enrichment of the literature on changing role of Accountants in this information age in Nigeria.
(ii) It will throw more light to those in the academic like lecturers, staff or bursary departments and students to embrace information technology.
(iii) It will suggest ways (of interest to academics) based on empirical evidence of knowing the importance and impact of information technology not only in accountancy but in other professions as well as business generally.
(iv) The study will serve as a body of reserved knowledge to be referred to by researchers.
c) Significance to the Society
Most  people  believe  (perception)  that  since  the computer can do anything with the assistance of computer programme, then there is no need for an Accountant since we have computer engineers, system analysis and scientists that  can operate  computer  using  the  appropriate commands. This study will help us to know the extent to which this perception is true in this information age.
1.8 Limitations
The following are some of the limitations encountered in carrying out this study.
(i) Slow response to questionnaire by the respondents.
(ii) Secrecy on the part of respondents: Most respondents do not give out some information they feel is personal or secret to them.
1.9 Operational Definition of Terms
1. Information: This is a processed data that guides one or an organization to make an informed decision.
2. Technology: This is scientific knowledge used in practical ways in industry. It also means machinery or equipment designed for a purpose. e.g. computer technology.
3. Information Communication Technology: This is the study or use of electronic equipment, especially computers for sorting, analyzing and sending out information.
4. Perception: An idea, a belief or an image one has about a thing as a result of how one sees or understands something or situation.
5. Function: A special activity or purpose of a person. It also means duty for which one is known. Here, it means the duties that Accountants carry out.
6. Role: The function or position that someone has or is expected to have in an organization.
7. Influence: To have an effect on the way that something on the way a person things or behave or does things or on the way that sometime works or develops. It also means to become different from what used to be.
8. Accounting: The art of recording, analyzing, summarizing and interpreting in a systematic manner so that the financial position of an organization can be ascertained.
This material content is developed to serve as a GUIDE for students to conduct academic research
INFLUENCE OF INFORMATION COMMUNICATION TECHNOLOGY ON THE ROLE OF ACCOUNTANTS IN NIGERIA
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