DIGITALIZATION TRENDS IN FINANCIAL REPORTING PROCESSES
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- NGN 3000
Abstract:
This study examines the impact of digitalization trends on financial reporting processes in Lagos State, Nigeria. The objectives are to: (1) evaluate the benefits of digital tools in financial reporting, (2) assess the challenges of implementing digitalization, and (3) analyze the impact on the accuracy and efficiency of financial reports. A survey design was selected for its ability to gather detailed data from financial professionals and IT specialists. The sample size, determined using Taro Yamane's formula, ensures statistical robustness. Access Bank Plc was chosen as the case study due to its advanced digitalization initiatives. The reliability coefficient score of the survey was 0.89. Findings reveal that digitalization significantly improves the accuracy and efficiency of financial reporting, although implementation challenges persist. It is recommended that companies in Lagos State continue to invest in digital tools and address these challenges to fully realize the benefits of digitalization.
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