Artificial Intelligence and the Future of Accounting Practice in Nigeria: Implications for Financial Reporting, Auditing, and Professional Competence

Izukwe; Raymond

doi:10.56201/jafm.vol.12.no10.2026.p537.543

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Artificial Intelligence and the Future of Accounting Practice in Nigeria: Implications for Financial Reporting, Auditing, and Professional Competence

Izukwe, Raymond

Abstract

The emergence of Artificial Intelligence (AI) is transforming the accounting profession worldwide through automation, predictive analytics, machine learning, and intelligent decision-support systems. In Nigeria, the adoption of AI technologies is gradually reshaping accounting functions, including financial reporting, auditing, taxation, fraud detection, and managerial decision- making. This study examines the implications of AI for the future of accounting practice in Nigeria with emphasis on financial reporting quality, auditing effectiveness, and the competencies required of professional accountants. The paper adopts a conceptual and analytical approach based on recent empirical and theoretical literature. Findings indicate that AI enhances efficiency, accuracy, timeliness, and transparency in accounting processes while reducing human errors and operational costs. However, challenges such as inadequate technological infrastructure, cybersecurity risks, regulatory uncertainty, skill deficiencies, and resistance to technological change continue to hinder widespread adoption. The study concludes that AI will not replace professional accountants but will significantly redefine their roles toward strategic analysis, professional judgment, and advisory services. The paper recommends increased investment in digital infrastructure, curriculum reforms in accounting education, professional retraining, and regulatory frameworks to facilitate responsible AI adoption in Nigeria.

Keywords

Artificial IntelligenceAccounting PracticeAuditingFinancial ReportingProfessional CompetenceNigeria.

References

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Artificial Intelligence and the Future of Accounting Practice in Nigeria: Implications for Financial Reporting, Auditing, and Professional Competence

Abstract

Keywords

References

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