Ict Impact on Accounting Essay
Introduction The purpose of this kind of commentary should be to explore just how information and communication technologies (ICT) have forever improved many aspects of business and accounting practice and, consequently, offer new and exciting research for you to accounting pros and teachers. In today’s computerized, interconnected, global organization environment, the accounting career must manage a host of complex issues that never existed in the past—for instance, the right way to capture and record start up business transactions and events, develop value-added organization and details processes, produce new value-chain and supply-chain opportunities, disseminate useful expertise to a wide array of information buyers, and provide peace of mind services through the entire variety of financial activities indicate some of the more compeUing issues of interest.
Accounting researchers can add value to the profession simply by investigating problems, among others, and presenting clinical results in a and understandable fashion to practicing accountants. An important concept of this commentary is that researchers in accounting information systems (AIS) and other areas of accounting, such as financial, auditing, tax, and managerial, should interact on tasks, as each party can easily learn a good deal from the different. Synergistic interactions arising from this sort of teamwork maintain great potential to yield premium quality research results that can possess notable impact on the accounting profession.
THE MODERN BUSINESS AND ACCOUNTING PANORAMA Over the past generations, business methods and accounting procedures designed and full grown a great deal, but at a predictable, sluggish, and managed rate. ^^ Accounting Horizons/March 2002 organization is done across the world and alerting all of us to the various challenges that lay ahead. How Technology Affects Organization Practice There exists little uncertainty that ICT has contributed immensely for the magnitude, rate, and speeding of change in business practice over the past 30 years. Rapid modifications in our business world place immense pressure on organization executives to stay ahead of the competition hy leveraging ICT to dramatically and continually renovate business procedures and types.
Using ICT to Create a Digitally Integrated Enterprise Figure you depicts an ICT infrastructure that papers and spreads throughout the inputprocess-output value string of a organization entity. Exemplified by this ICT infrastructure, digitally integrated business entities get economic situations as they unfold, process information with fast speed and ubiquitous availability, and disseminate valuable decision-making information and knowledge throughout the organization. The blending of ICT and business procedure integration manifests itself in enterprise useful resource planning (ERP) systems, which serve as the inspiration for relating multiple, related business agencies into built-in supply chains.
Using ICT to Integrate the Conventional Source Chain Once related organizations link all their internally integrated information devices to one another, the worth ofthe connected with each other network potentially becomes greater than the quantity ofthe engaging firms* separated systems. The provision chain illustrated in Physique 2 depicts how a digitally integrated organization environment may look, let’s assume that conventional relationships among upstream and downstream partners continue to be intact. Suppliers can screen upcoming production schedules of manufacturers to ensure that the proper amount and blend of unprocessed trash arrive on time where necessary.
Upon invoice of unprocessed trash, the manufacturer may send electronic digital payment to the suppliers. More over, the manufacturer may well look upstream to ensure that primary and secondary suppliers have sufficient capacity to meet the upcoming production demands. Looking downstream, a manufacturer can screen inventory amounts and motion patterns ofits product hnes to ensure that suppliers have satisfactory quantities of goods on-hand. When new patterns emerge, as an example the activity charge for merchandise A boosts significantly pertaining to distributor By but diminishes for supplier Y, the manufacturer can adjust the production and shipping activities accordingly.
Looking further downstream, distributors can monitor space patterns for retail places, thereby being sure that product stock-outs do not take place. Finally, suppliers can keep an eye on changing usage patterns of shoppers and change product combine and rack locations correspondingly. Using ICT to Create New company Models When ICT initially arrived for the business picture, managers initially automated existing processes, instead of envisioning just how ICT could be used to perform business in new and innovative ways.
Eventually organization managers hegan to understand the potential for ICT to compliment radical changes in internal organization practices; therefore, they viewed the development and implementation of ERP systems as value-added endeavors for his or her business organizations. To some extent, business choices are suffering from a similar evolutionary adaptation to ICT in the world of bundled supply chains.
That is, the previous example reflects how business managers are applying ICT to automate existing Blending Data and Interaction Technology ujitk Accounting Research 67 DETERMINE 1 The Digitally Included Business Entity Qualitative & Business & information & Quantitative Information Knowledge as well as Inputs Techniques Low Value High Value Value-Chain FIGURE two The Electronically Integrated Typical Supply Sequence Suppliers Suppliers Distributors Stores Customers supply-chain models. Yet , ICT further allows new supply-chain and business types to emerge. For example , the hybrid source chain demonstrated in Figure 3 describes a situation where suppliers deal directly with suppliers, thereby bypassing the entire supplier network.
For example, assxime which a manufacturer receives real-time inputsfromretailers, via corner sensors and cash registers, regarding the corner location of each and every product, the rate at which the merchandise is being purchased, the types of discount coupons being redeemed, and the volume of units staying on store shelves. Leveraging on such intelligence 58 Accounting Horizons/March 2002 NUMBER 3 The Digitally Built-in Hybrid Source Chain Suppliers Manufacturers Vendors Retailers Clients gathering, the maker could monitor stocks and flows in retail stores, and continuously fine tune its production and shipping and delivery schedules.
Additionally , manufacturers and retailers can enter into negotiating where suppliers assume inventory responsibihty and retain legal title until the products are offered. A scenario of this mother nature, often referred to as “vendor managed arrays, ” offers manufacturers better control over their products, while reheving financial and human resource problems heretofore enforced on stores. Taken 1 step further more, manufacturers may well begin to ponder why they use retailers in any way, since they can easily create digital storefronts on the internet, thus working directly with customers and allowing for creation of the virtual supply chains illustrated in Figure some.
Such monetary arrangements, legitimatised under terms and conditions specified in “collaboration partner agreements, ” are very effective, as they decrease the number of tiers from suppliers and buyers, thereby considerably increasing the firm’s response time and adaptability. Last, but certainly not least, ICT provides new and exciting organization models recently not possible, just like virtual enterprises depicted in Figure five. Using this type of e-commerce configuration, a virtual organization can build complex interdependencies with suppliers, manufacturers, and customers, therefore offering several goods and services to consumers.
The virtual organization is organic and natural in nature because the constructions, relationships, guidelines, procedures, and houndaries of business associations can adjust to ever-changing environmental conditions. ACCOUNTING AND INFORMATION SYSTEMS—SIMILARITIES AND DIFFERENCES The emergence of ICT within the last few decades led to a new business and educational discipline—information systems (IS). Given that the vast majority of organization event finalizing in agencies deals with accounting transactions, it truly is no surprise the fact that disciplines of accounting and is also share a top degree of commonality; yet essential differences can be found between the two disciplines as well.
Blending Info and Communication Technology with Accounting Research 59 NUMBER 4 The Digitally Bundled Virtual Source Chain Suppliers Manufacturers Suppliers Retailers Consumers FIGURES The Digitally Integrated Virtual Venture Similarities between Accounting and Information Systems The input-process-output value sequence of a business entity sbown in Determine 1 displays one area of convergence between accounting and IS disciplines. As an example, both professions examine methods to maximize tbe efficiency and effectiveness of recording economic data, wbere issues sucb as croping and editing and validating input info are of paramount concern.
Additionally , botb disciplines research various approacbes to automating the immediate get of economic events in their resource as they occur via ^^ Accounting Perimetre /March 2002 computer-to-computer connections, point-of-sale applications, self-service features, and so on. Concerning tbe digesting of economical events, botb disciplines seek to integrate ICT into business processes and be sure the security of corporate databases.
Tbe accounting and IS exercises also endeavor to disseminate trustworthy and timely information to decision manufacturers, and advance understanding witb respect to managing business knowledge tbrougbout tbe business, Tbe accounting and IS disciplines also seek out ways to boost modeling approaches aimed at conveying semantic representations of intra- and inter-enterprise systems. Scbolars wbo participate in intellectual things to do of this characteristics categorize tbeir researcb while design research. Such researcb is very important to tbe creation of sound “architectural drawings” and “engineering plans” for building reliable systems. Tbe accounting and IS disciplines furtber research issues tbat fall into the realm of social science.
For insttmce, at tbe individual level, researcbers check out various ways to involve users in systems development and setup projects, improve decision making by way of decision-support and group-support devices, and produce system cadre designed to enbance tbe performance and success of human-to-computer interactions. At the organizational level, the ultimate objective is to produce information systems tbat finest leverage firm resources to optimize profitability and competitiveness, Witb this target in mind, researchers strive to make use of ICT in manners tbat support business method (re)design efforts, improve intelligence gatbering, sucb as info warebouses, info marts, and knowledge angles, and create tbe new business models reflected in Figures 2 througb 5. Distinctions between Accounting and Details Systems Accounting can be viewed as a specialized info system geared towards recognizing, calculating, recording, control, and revealing economic occasions affecting organization entities.
An obvious divergence among tbe accounting and IS disciplines centers on the economic significance of organization events. Tbe accounting willpower expends a great deal of effort selecting wbicb economical events has to be recognized and how they sbould be tested. Economic worries of tbis nature are not addressed in tbe CAN BE literature, because event and measurement rules are accepted as given. When these essential issues are resolved and codified, competent economic incidents must be documented, processed* and reported.
As mentioned earlier, botb disciplines check out similar intra-enterprise issues; however , tbe CAN BE discipline is quite concerned witb technical aspects of incorporating ICT into businesses, whereas tbe accounting discipline is most enthusiastic about leveraging ICT to improve organization performance wbile simultaneously retaining effective inner controls. With respect to system design matters, accountancy firm help to guarantee that sound internal regulates are created and integrated into information devices, such as (1) editing and validating suggestions data, (2) tracking the integrity of information tbrougbout finalizing, storage, and retrieval activities, (3) keeping reliable review trails, and (4) obtaining operating systems, networks, software applications, and databases thus tbat just properly autborized individuals crachotement access to economic information.
To the extent tbat internal controls of this character cannot be incorporated into tbe system, accountants must style compensating regulates around the program. Regarding organization process (re)design efforts, IS USUALLY researcbers again tend to focus on tecbnical concerns, sucb because how to build systems tbat are adaptable to various business process models. In contrast, tbe accounting discipline is targeted on developing impressive Blending Info and Conversation Technology with Accounting Exploration 61 ways to (re)design organization and information processes to improve the stability, relevance, and timeliness of economic and non-financial business credit reporting.
For example , accounting researchers may redesign organization processes to add a more comprehensive set offirmperformance indicators, including balance scorecard metrics, although IS analysts concentrate on how you can technically get and process such suggestions. On the output side ofthe value string, the business or technical distinction between the accounting and IS exercises emerges yet again. The accounting discipline needs a “decision usefulness” approach to revealing business details.
Researchers in this area expend significant amounts of effort determining the nature of economical and non-financial information needed by decision makers, translating critical business information in to knowledge, including knowledge bases throughout the firm, and creating individual- and group-level decision support devices. Although the CAN BE discipline is also involved with data dissemination, expertise management, and decision support, IS study focuses not really on content issues, nevertheless on the technological aspects of employing ICT pertaining to such uses.
Business process (re)design work cEin prolong beyond the intra-enterprise boundary to include inter-enterprise linkages, including those symbolized by Figures 2 through 5. Creating and keeping externalities of the nature beget a host of business and accounting risk concerns for trading partners. For instance, because trading partners concern potential organization interruptions through the implementation and operation of inter-enterprise systems, contingency and backup ideas must be designed and tested.
Trading companions also screen and control external ventures and negotiating to ensure that both sides in the inter-enterprise network live up their trading spouse arrangements, different a weakened link inside the chain couid have significant business and financial implications for all interdependent trading partners. While the accounting self-discipline focuses on these kind of implementing, monitoring, and handling issues, the IS self-control concentrates on the technical facets of establishing and maintaining inter-enterprise relationships. Finally, the accounting discipline delivers public assurances regarding the level to which monetary statements reasonably refiect the financial position ofthe enterprise plus the ICT infrastructure is reliable.
The information systems discipline can be uninvolved with providing this kind of assurances. These similarities and differences between your accoimting and is also disciplines make up the basis pertaining to the accounting value sequence, presented next. Capturing Financial Events Within the low-value end of the range fall the traditioned features of determining, measuring, and recording accounting transactions because they pierce the boundary in the entity.
Seeing that most of these capabilities are schedule and estimated, cleverly written computer applications can handle most of these activities. Sometimes, economic occasions unfold which can be new or perhaps unusual to thefirmand need that a correctly trained accountant intervene. 62 Accounting Horizons / Mar 2002 NUMBER 6 The Accounting Worth Chain Implementing, Monitoring, & Controlling Externalities entifying,.
Computing & Recording Accounting Tendency Designing. ^ Generating. Integrating \ Managing & Searching for & Including Business/Information as well as / Business Processes // Knowledge Growing, Providing & Reporting Confidence /: Low Value It might Perform • Computerized, Connected with each other, Global Business Environment Quality IT Can Aid • Yet , on the whole, data-capturing tasks performed by accountants in the past have been supplanted by simply infonnation technology. Because current event-capturing techniques are adult and dependable, accounting researchers have few opportunities in this field to add gradual value to exttint theory or practice. Processing Economic Events The next phase of the accounting value sequence deals with changing data in to meaningful details streams.
Just like input activities, computerized digesting of accounting transactions is usually routinely computerized. Reliable accounting controls are made into many infonnation-processing devices, hence the integtity of such systems is quite high. For instance, automated checks and balances, coupled with security features, can make sure that info are not misplaced, corrupted, or altered during processing, holding, and retrieving activities. Future research in this field will not pay attention to ICT by itself; rather, it will eventually focus on tips on how to leverage ICT to develop and integrate impressive business process models. Distributing Business Understanding The high-value side with the accounting value chain works with generating, managing, and including business knowledge.
As recommended by Elliott (2001), know-how leveraging is the most important and unique competency of professional accountants. While many information technology tools are present to assist on this factor, such as databases query languages, data warehouses, and info marts, it is humans who have ultimately apply reason, judgment, and model to informational patterns—which consequently begets fresh knowledge. Accountants can play valuable tasks in identifying, Blending Info and Interaction Technology with Accounting Analysis 63 processing, and utilizing business know-how, and disseminating such know-how to other information consumers inside and outside ofthe organization.
Growing Externalities A relatively new market where accountants can add value to the firms concerns the development of external linkages to other firms inside the environment. As discussed recently, business sites of this nature allow for the creation of rising e-commerce designs across worth and supply stores. However , the creation of externalities mirrors a host of applying, monitoring, and controlling concerns relevant to accountants. For example , each time a firm determines digital contacts with another firm, the guidelines of diamond must be carefully specified. That is certainly, an exchange protocol must be agreed upon and collaborative spouse agreements must detail the responsibilities, authorizations, and restrictions of each get together.
Once external linkages happen to be in place, each party need to monitor and control educational flows and exchanges to insure that the privacy, privacy, and reliability rights of affected functions are protected. Since the advancement external digital linkages features significant inner control significance, accounting research workers face a host of new possibilities in this regard. Providing Assurance There are plenty of new and exciting opportunities where the accounting profession could add worth to managers, investors, and society through an expanded distinctive line of assurance providers. The most notable, but traditional, sort of assurance is usually manifest in the auditor’s view regarding the justness offinancialreporting.
However , the hefty dependency on ITC within and throughout business organizations features opened doorways to an entirely new line of potential assurance services. For example, the American Institute of Certified Community Accountants (AICPA) and Canadian Institute of Chartered Accountants (CICA) considered business-to-consumer assurance in the form of WebTrust^”. More recently, the AICPA/CICA rolled out a product named SysTrust^”, which reflects a kind of business-to-business guarantee. Other guarantee services will Hkely arise over time, just like assurance over the quality and reliability offirms*business and data processes, positioned in the middle ofthe accounting worth chain, and assurance over knowledge supervision tools and techniques, situated on the upper end ofthe variety.
Last, nevertheless certainly not least, a new breed of e-commerce assurance service chances will likely come out as companies begin to website link their interior systems to each other, thereby forming unique and innovative web commerce models. Synergistic Research Possibilities in Accounting The accounting value cycle illustrated in Figure 6 provides a structure for pondering and framework a wide array of analysis questions to get accounting students.
The more dominant issues investigated by accounting information systems researchers happen to be reflected in an upcoming AIS research monograph sponsored by the Information Devices Section of the American Accounting Association. ‘ Since many of these issues had been directly or indirectly dealt with above, this section identifies rep areas where accounting information devices and other accounting researchers can collaborate in research projects. ‘ Arnold, Sixth is v, and T. Sutton, Exploring Accounting because an Information Devices Discipline, Details SyBtems Portion of the American Accounting Association, forthcoming. ^Accounting Horizons/March 2002 Business Credit reporting Taxonomies The AICPA, between dozens of proponents, is associated with developing a technologybased framework to allow for the computerized extraction and exchange of financial and nonfinancial information across multiple, disparate software applications. Recognition of this construction will facilitate many desired goals, such as the creation of global source chziins, instant dissemination of financial statements towards the public, tranny of regulatoryfilingsto governmental organizations, and so on.
The technology lurking behind this framework is called extensible Business Confirming Language (XBRL), also known as the digital language of business. Taken a step further, in the event that trading spouse firms included in the industry’s supply cycle have access to the taxonomy, chances are they, too, can simply share business information. This example may be extended to a global placing as well. Research opportunities in this field seek to develop taxonomies being used for several industries, regulatory agencies, accounting jurisdictions, source chains, and so on.
For instance, AIS researchers can collaborate with financial accountancy firm on the development of XBRL taxonomies focused on economical reporting, which include global taxonomies, and with managerial accountants on taxonomies dealing with inner reporting and supply chains. Continuous Financial Confirming In an effort to be a little more responsive to data consumers, public companies are taking into consideration the merits of providing economical statements over a more frequent basis than the current quarterly reporting period.
Many problems and issues arise with respect to continuous economic reporting, this kind of what is intended by continuous (e. g., monthly, every week, daily), how to overcome accruals, deferrals, and estimates in a continuous reporting environment, and the effects of continuous reporting around the capital market. Regarding the last mentioned issue, economical and AIS researchers may simulate and compare several reporting eq, such as quarterly-to-monthly vs . quarterly-toweekly, and conduct either behavioral or experimental economic research to investigate the impact of even more frequent confirming on stock price value and market volatility.
Constant Assurance For the extent that continuous monetary reporting becomes a reality, the accounting occupation must deal with the correspondant demand for continuous, or at least more frequent, guarantee. The potential research issues in this area include: (1) the type of peace of mind to render—audit or assessment, (2) the marketplace demand for ongoing assurance, (3) the impact of continuous peace of mind on the examine process, and (4) methods audit companies can power ICT to render a highly effective yet successful audit underneath these conditions.
For example , auditing and BARDEAU researchers could collaborate about projects looking into the efficacy of various types of ICT, such as inlayed audit segments, for monitoring client transactions and activity levels and insuring that firms do certainly not change financial information on their Internet sites eifler the auditors have presented assurance. Mixing Information and Communication Technology with Accounting Research sixty six Quality of Earnings The options of continuousfinancialreporting and related assurance beget questions regarding quality of earnings. For example, to what level will even more frequent confirming affect a firm’s capability to manage earnings since accruals, deferrals, and estimates should be more carefully tied, in real-time, to related financial events?
Could a credit sale purchase captured at a check out include approximated allowances intended for doubtful accounts and returned goods depending on a percentage ofthe sale quantity? Will even more continuous assurance affect the mother nature and level of earnings management attempts if the organization believes that auditors are more likely to detect these kinds of activity in a continuous assurance scenario? AIS and audit researchers can certainly team up to tackle this kind of issues.
The true market value of Accounting Systems The effect of ICT on accounting systems has developed from quite simple general ledger applications to extremely sophisticated ERP devices. When organizations adaptfromone form of system to a new, they typically incur huge outlays offinancialand human capital. Questions occur regarding the fundamental value of embarking on gigantic capital tasks of this character. One aspect of “value” could be viewedfromthe perspective of shareholders. For instance, how can investors reply when a firm announces which it plans to look at an ENTERPRISE RESOURCE PLANNING system?
Although this question deals with investors’ initial philosophy regarding ENTERPRISE RESOURCE PLANNING adoption, an autoresponder question may focus on the extent that ERP systems actually improve firm performance over time. Lately, AIS and financial accounting researchers joined up with forces to measure the first question (Hayes et ing. 2001). Examining a study with this nature may help AIS and non-AIS research workers envision the end result of this kind of collaborative attempts.
Internal Benefit of Accounting Systems In a similar line of thinking, researchers may investigate the importance of enterprise-wide details systems to internal decision makers and business techniques. For example , to what extent carry out ERP devices improve the timeliness, reliability, and relevance of decision-making information throughout thefirm? Perform enterprise-wide devices offer a realistic framework for producing value-added info warehouses and data marts? To what magnitude can the firm attribute quality improvements in critical accomplishment factors, just like services, goods, processes, and morale, to enterprise-wide systems?
AIS and managerial accounting researchers could collaborate upon these and related issues. Decision Support Systems Advancements in ICT facilitate the development of a host of potential decision-support systems at the two individual and group level. For instance, decision-support systems could be developed to assist design powerful internal control structures, change optimal business processes, and assess business and taxation risks.
Problems such as user interface design, details content, training value, and user reliability are some ofthe more fruitful areas of request. Depending on the circumstance ofthe recommended decision support system, VOLIGE researchers can perform with economic, managerial, duty, and taxation researchers. Expertise Management One of the most promising aspects of value creation for oi^emizations is to get, store, process, and disseminate business know-how.
Firm- and industry-spedfic understanding is built up over time in key concerns such as r and d, marketing strategies, customer relations, procedure quality, and so on. A “best practices’* know-how base working with topics with this nature can be developed so that institutional sixty six Accounting Horizons /March 2002 knowledge can be transferred across persons, adjustments, and time to facilitate company and person learning and growth chances. AIS and managerial researchers can investigate critical style issues in knowledge managing systems and ways to encourage employees to rely on such systems as electronic acquaintances.
Risk Assessm. ent and Management The moment firms change from one accounting system to another, say from a traditional basic ledger program to an ENTERPRISE RESOURCE PLANNING system, the type and extent of organization, internal control, and taxation risks can alter considerably. Firm managers and internal and external auditors must be aware of risk differentials across accounting systems and revise backup strategies, internal controls, and audit programs accordingly. VOLIGE, audit, and managerial students can develop jobs aimed at delineating risk information of various technology-based accounting devices.
Once unique risks happen to be identified, AIS and audit researchers can examine the extent where external auditors are aware ofthe unique dangers posed by distinct systems and how they both do or perhaps should adjust audit programs in response to differential risk profiles. A current study by Hunton et al. (2002) represents an illustration how BARDEAU and review researchers will work together in this field. Systems Dependability Assurance The new SysTrust^” peace of mind service proposed by the AICPA/CICA holds superb potential as being a revenue generator for CPA/CAfirms.
SysTrust^” attests to the rehability of a firm’s information systems. For example , business management tends to make assertions about one or virtually any combination ofthe following dependability dimensions of its data systems: availableness, security, and integrity and maintainability. ^ Additionally , supervision can narrow the scope ofthe system where the assertions apply, such as accounts receivable only, almost all financial applications, or the whole ERP package of applications. Then, 3rd party auditors are hired to try for compliance with stated assertions and provide related guarantees to the community in the form of an impression.
A firm may voluntarily demand a SysTrust^” engagement to supply comfort to current and potential trading partners, or a potential trading partner may possibly demand the other partner receive these kinds of assurance ahead of entering into a contractual layout. AIS, audit, and monetary researchers can easily collaborate in projects created to investigate various issues, just like (1) the perceived value of inserting assurance upon various combinations of systems reliabihty sizes, (2) just how companies and audit companies can conduct cost-benefit examines of SysTrust^” engagements, and (3) risk factors influencing the market with regard to systems stability assurance. These four proportions of devices reliability stand for the 4 principles of SysTrust^**.
Blending together Information and Communication Technology with Accounting Research 67 SUMMARY As highlighted through this comments, information and communication solutions have substantially transformed the nature of business and accounting practice. Accordingly, the way in which in which accountants can potentially add value to economic organizations and society is starting a metamorphosis. As recommended by the accounting value chain shown in Figure 6th, many classic accounting tasks dealing with saving and digesting of accounting transactions may be reliably computerized. Thus, accountants add little incremental benefit to organizations in this regard any longer.
Rather, an accountant’s worth is now shown in higher-order critical-thinking abilities, such as building business techniques, developing e-business models, rendering independent confidence, and adding strategic knowledge. Many of the analysis issues analyzed in this commentary are interlaced with related topics in financitd accounting, auditing, managerial accounting, and taxation. Methodological approaches utilized to investigate accounting information systems research questions, such as clinical modeling, archival analyses, and behavioral trials and qualitative inquiries, can also be common around accounting domain names.
Given such complementary interdependences, the academic community would be enriched if BARDEAU scholars would have been to collaborate upon research projects with other accounting reseairchers, where possible, as ensuing synergistic relationships will most definitely produce highquality, relevant studies that could drtimatically shape the ongoing future of the accounting profession and business practice. REFERENCES Elliott, R. K. 1994. Facing the future: Choices for the attest function. Accounting Horizons almost eight (3): 106-124., 1995, The near future of assurance solutions: Implications pertaining to academia. Accounting Horizons 9(4): 118-127,.
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