THE IMPACT OF FINTECH INNOVATIONS ON FINANCIAL REPORTING
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- NGN 3000
Abstract:
This research explores the impact of fintech innovations on financial reporting in Lagos State, Nigeria. The objectives are to: (1) assess how fintech innovations enhance the accuracy of financial reports, (2) evaluate the impact on the timeliness of financial reporting, and (3) analyze the overall improvement in reporting quality. A survey design was employed to collect data from financial professionals and fintech developers. The sample size, calculated using Taro Yamane's formula, ensures representativeness. Flutterwave was chosen as the case study due to its innovative fintech solutions. The reliability coefficient score of the survey was 0.91. Findings indicate that fintech innovations significantly enhance the accuracy, timeliness, and overall quality of financial reports. It is recommended that companies in Lagos State adopt fintech solutions and invest in relevant training to leverage these advancements in financial reporting.
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