Are Accounting Softwares Replacing Accountants? Perspectives of Professional Accountants in Ghana

Abstract

The integration of accounting software in modern-day accounting duties has called for an evaluation of the impact of these applications on the accountancy profession in Ghana. Thus, the purpose of this study is to assess the impact of accounting software on the accountancy profession. The study adopted a descriptive research design with a target population of 4,834 chartered accountants in Ghana. A sample size of 369 professional accountants was selected for the research; however, 235 accountants responded to the questionnaire representing a 63.7 percent response rate. Descriptive statistics including Kendall’s coefficient were used to analyze the study results. The findings of the research indicate that the incorporation of accounting software is not a threat to the accountancy profession (in terms of job losses and demotion) and that the role of accountants is still relevant in the working environment. However, the study established that most professional accountants have become outmoded as a result of the incorporation of accounting software in the accountancy profession. The study also finds that accounting professionals with accounting software backgrounds are categories of graduates likely to gain employment in current accounting practice. The study recommends that professional bodies such as ICAG and other business institutions should include accounting software education in their curriculum. This would help graduates of these accountancy bodies to be more relevant in the job market, which employers will gradually be in search for in the future.

Keywords: Accounting Software, Professional Accountants, Ghana

DOI: 10.7176/RJFA/12-18-02

Publication date:September 30^th 2021