The Role of Financial Digitalization in Developing Accounting Reporting Systems and Enhancing the Transparency of Financial Statements
DOI:
https://doi.org/10.71285/icpt.v3i2.32Ключевые слова:
Financial Digitalization, Accounting Reporting Systems, Financial Statement Transparency, Digital Accounting, Financial TechnologyАннотация
The rapid evolution of finance into digital form has greatly influenced accounting systems and financial reporting practices for all businesses today, through the enhancement of the efficiency, accuracy and transparency of accounting reporting systems with the use of digital advances like cloud computing, artificial intelligence, blockchain and big data analytics. This research will discuss how financial digitization will support the transformation of accounting reporting systems and to provide more transparency into financial statements. It will also show how digital financial technology affects the quality of accounting information, reduces the risk of financial manipulation, increases the speed of reporting processes, and increases stakeholders' confidence in financial disclosure. The research methodology will use an analytical descriptive approach that includes reviewing current academic research literature and empirical studies on digital accounting transformation. Overall, the research indicates that the financial digitalization will lead to improvements in the quality of the results being reported from the accounting departments, as it will improve the accuracy of the data, enhance the internal control processes, and improve the quality of disclosures by supporting transparent reporting of financial information. Based on the results of this study, companies that utilize financial digitalization will achieve improved efficiency in their operations and greater levels of financial transparency, thus increasing corporate governance and investor confidence.
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