THE EFFECT OF GLOBALIZATION ON FIDUCIARY ACCOUNTING SERVICES
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- NGN 3000
THE EFFECT OF GLOBALIZATION ON FIDUCIARY ACCOUNTING SERVICES
Abstract: Globalization has profound effects on fiduciary accounting services, necessitating adaptations to diverse regulatory environments and financial practices. This study aims to (1) investigate how globalization influences fiduciary accounting standards, (2) examine the challenges fiduciary accountants face in a globalized context, and (3) evaluate the strategies employed to manage these challenges. A survey research design was chosen to capture a wide range of perspectives from fiduciary accountants operating in various international contexts. The sample size of 300 participants, calculated using Taro Yamane’s formula, ensures a robust and representative dataset with a 95% confidence level and a 5% margin of error. The case study selected is an international consulting firm based in Lagos, which provides fiduciary accounting services across multiple countries. The reliability coefficient score for the survey was 0.88, demonstrating high reliability. The findings highlight that globalization demands fiduciary accountants to be adept at navigating complex international regulations and cultural differences. The study recommends that fiduciary accounting firms invest in global regulatory training and foster cross-cultural competencies among their accountants.
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