Background of the Study
The increasing complexity of financial operations has prompted organizations to adopt advanced technologies to enhance audit efficiency and accuracy. Robotic Process Automation (RPA) has emerged as a transformative tool in audit processes, enabling the automation of repetitive tasks such as data extraction, reconciliation, and compliance checks. By leveraging RPA, financial institutions can improve audit accuracy, reduce human errors, and optimize resources (PwC, 2024).
Zenith Bank Plc, a leading financial institution in Nigeria, has embraced technological innovation to stay competitive in a dynamic industry. The integration of RPA into its audit processes represents a significant shift towards more efficient and effective auditing practices. This study explores the use of RPA in audit processes at Zenith Bank, examining its impact on audit quality and operational efficiency.
Statement of the Problem
Despite the potential of RPA to revolutionize audit processes, its adoption in Nigeria faces challenges such as high implementation costs, limited technical expertise, and resistance to change. These challenges hinder the full realization of RPA's benefits, particularly in the banking sector.
This study investigates the application of RPA in Zenith Bank’s audit processes, assessing its impact on audit efficiency and identifying barriers to its successful implementation.
Objectives of the Study
To examine the role of RPA in enhancing audit efficiency in Zenith Bank.
To assess the impact of RPA on the accuracy and quality of audit outcomes.
To identify the challenges associated with implementing RPA in audit processes in Nigeria.
Research Questions
How does RPA enhance audit efficiency in Zenith Bank?
What is the impact of RPA on the accuracy and quality of audit outcomes?
What challenges affect the implementation of RPA in audit processes in Nigeria?
Research Hypotheses
H₁: The use of RPA significantly enhances audit efficiency in Zenith Bank.
H₂: RPA improves the accuracy and quality of audit outcomes in financial institutions.
H₃: Challenges such as high costs and limited expertise hinder the effective implementation of RPA in Nigeria.
Scope and Limitations of the Study
The study focuses on Zenith Bank’s use of RPA in audit processes, analyzing its impact on efficiency and accuracy between 2023 and 2025. Limitations include restricted access to proprietary data and the nascent nature of RPA adoption in Nigeria.
Definitions of Terms
Robotic Process Automation (RPA): Technology that automates repetitive and rule-based tasks through software robots or "bots."
Audit Efficiency: The ability to conduct audits accurately and timely with optimized resource utilization.
Zenith Bank Plc: One of Nigeria's largest financial institutions, known for its technological innovation.
ABSTRACT
This study was carried out to examine Forensic Accounting And Audit As a Panacea For Prev...
Background of the Study
Workplace mentorship programs are essential for the professional development of newly employed nurses, helping th...
ABSTRACT
This study was carried out to examine the influence of government ownership on political...
Background of the Study
Farmer engagement is a critical component of successful rural banking, as it dire...
Background of the Study
Fraud detection systems are indispensable in protecting bank assets and maintaining stakeholder con...
Abstract
This research work aims at assessing the impact of human resources management of organizational performance of...
Background of the Study
Climate change has become one of the most critical global challenges, with severe implications for both the envir...
ABSTRACT
Neem (Azadirachta indica A. Juss) is perhaps the most useful traditional medicinal plant in India. Each part of...
Background of the Study
The telecommunications sector in Nigeria has experienced significant growth over the last decade...
Background of the Study :
The integration of IoT technologies in educational environments is transforming traditional class...