The impact of digitalization on the Liberal Accounting Profession

Abstract

Since the advent of digital technology, numerous tools have emerged that radically change various professional fields. A review of the literature and theory shows that new technologies are increasingly impacting organizations, and no organization can escape the changes brought about by technological progress. Based on these observations, our thesis seeks to highlight the effects of digitalization on the liberal accounting profession. For this purpose, we conducted a training at B&B Audit and Advisory Firm in, through which we managed to observe and analyze in detail the methodologies and workflow that this firm follows. This work reveals that in addition to redefining the profession itself, technological advancement must also lead to the acquisition of new skills by accountants. Additionally, it highlights the challenging issues that must be overcome by the development of this profession in this digital age. It is from this basis that this paper looks into digitalization to bring about the transformation of the accounting profession and the related skill set which each professional has to possess to succeed.