An Examination of the Use of Robotic Process Automation (RPA) in Audit Processes in Nigeria: A Study of Zenith Bank Plc
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style:
- Recommended for :
- NGN 5000
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.
Related Project Materials
An Investigation of the Role of Security Agencies in Election Monitoring: A Study of Lokoja Local Government, Kogi State
Background of the Study
The role of security agencies in election monitoring is crucial for ensuring free, fair, and pea...
CAUSES AND PREVENTION OF HAZARDS IN THE FOOD PREPARATION AREA
ABSTRACT
Occupation hazards constitute a major threat to an active workforce. Fricidences such as back...
A PRAGMATIC ANALYSIS OF SLANG AND CATCHY PHRASES USED IN SOME SELECTED NIGERIAN HIP-HOP SONGS.
ABSTRACT
Slangy expressions and catchy phrases are deliberately used in hip-hop songs in order to reduce the degree of v...
The effect of Christianity on traditional healing practices in Nnewi North Local Government, Anambra State
Background of the Study
Christianity has significantly influenced the cultural and social landscapes of m...
The role of adult literacy in promoting indigenous language preservation in Ganye Local Government Area, Adamawa State
Background of the Study
Indigenous language preservation is vital for maintaining cultural identity and heritage, particul...
THE ROLE OF INFORMATION SYSTEMS IN HEALTHCARE MANAGEMENT
Abstract: This study aimed to explore the role of information systems in healthcare management within organizations. The objectives were to investi...
THE ROLE OF INTERNATIONAL ACCOUNTANTS IN CORPORATE GOVERNANCE
ABSTRACT
This study examines THE ROLE OF INTERNATIONAL ACCOUNTANTS IN CORPORATE GOVERNANCE, focusing on improving financial oversight, en...
The effect of instructional videos on knowledge retention in online learning among secondary school students in Maiduguri Central LGA, Borno State
Background of the Study
Instructional videos have emerged as a powerful pedagogical tool in online learning, offering a dynamic medium th...
A critical analysis of social media strategies in political branding on voter perception: A case study of a political candidate in Port Harcourt, Nigeria
Background of the study
In recent years, social media has emerged as a pivotal tool in political branding, offering poli...
The impact of online authentication system upgrades on securing digital transactions in banking: a case study of Citibank Nigeria
Background of the Study
As cyber threats evolve, the security of digital transactions becomes a critical concern for banks....
