THE ROLE OF TECHNOLOGY IN IMPROVING FINANCIAL REPORTING EFFICIENCY
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ABSTRACT:
This study investigates the role of technology in improving financial reporting efficiency in Lagos State, Nigeria. The objectives are to: (1) evaluate the impact of technological tools on the accuracy of financial reports, (2) assess the influence of technology on reporting timeliness, and (3) analyze the overall enhancement in reporting efficiency. A survey design was chosen to gather data from financial professionals and IT specialists. The sample size, calculated using Taro Yamane's formula, ensures statistical significance. GTBank Plc was chosen as the case study due to its advanced technological adoption in financial reporting. The reliability coefficient score of the survey was 0.91. Findings indicate that technology significantly improves the accuracy, timeliness, and overall efficiency of financial reporting. It is recommended that companies in Lagos State invest in advanced technological tools and training to fully realize the benefits of improved financial reporting efficiency.
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