ACCOUNTING AND THE PROFESSION – TECHNOLOGY DISRUPTION AND DIGITALTRANSFORMATION.

Technology in recent times is seen and agree that it is the way to go for companies to
realize higher yields.With the changing moments in the business world more and more
technology is required to tackle shortcomings the businesses face. Accountants and the auditors
use the technology to analyze the business data and formulating other data to run the business.
Technology disruption refers to the erosion of outdated mechanisms of running the company
including the accounting and audit professions. Below are informative chapters of incorporation
of technology in the industry.

1. Cyber Security

Cybersecurity deals with protecting structures, networks used by companies to
disseminate information which would be vital for the stability of the organization and programs
in gadgets like the phones and computers used by workers in the firm. These gadgets are prone to
be digitally attacked by giving them viruses which would paralyze the running of the
organization (Ten et al. 2010, p.853. Cyber-attacks are instigated mostly by criminals who want
to, accessing information, manipulating and destroying of delicate material or, steal variable data
of the institutions or even extorting resources and money from handlers. It can also be used to
paralyze the daily routine of the work in place. Cyberattack is very expensive when you want to
suppress it with a cybersecurity system. Cybersecurity, therefore, would bring about financial
losses that would cripple all the spheres of the business (Ten & Liu 2008, p .1841.) When a
cyber-attack occurs on the accounting procedures and audit data, this would mean crippling of
the organization because lots of data would get lost or destroyed. It would also fall on the wrong
people like hackers. Such attacks have been widely carried out, and the accounting data taken by

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the hackers, who then go preying on innocent and unsuspecting clients and customers who have
some activities with the business.
In 2013, residents of a small town in Fairfield County found themselves in an awkward
situation when an accounting Firm in their residence was attacked by hackers who took away tax
returns from the firm’s computers. It was a calculated move because they only took the
remittances that had just been concluded and had not got filled, to help them make refunds later
that they did not utilize the returns. Big businesses, such theft of taxes would be every minute,
compared to the capacity of data a firm handles over the years (Ten et al. 2011,p.868). With that
kind of data that does not belong to you, can be used to commit fraud, stealing of real property
and posing like you are the business or part of it whereas you are a hacker who has just taken
identity.
It has become hard to applying diligent cybersecurity measures. Using them would mean
that many of the cybersecurity protections are becoming obsolete; this, in turn, occasions the rise
of new cyber-attack methods that keep on developing day by day. The number of gadgets has
significantly increased, and so, many people can afford them with ease, some of them fall on the
hands of the wrong people with ill motives and hence, carry out the attack.

2. Ethical issues.

Accountants are the ones who are the driving force of any business entity; They can be
overseers of the company and keep proper financial records. By doing this, they will have
behaved in an appropriate ethical manner. Accounting as a profession deals with customers and
clients who happen to be the members of the public and deserve great treatment, of a kind and
humane manner which shows the good morals an individual has(Beauchamp 2004,p.3). In the

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accounting profession, there are different accounting ethics. Ethics taught in the institutions of
learning like the universities, where the accountants and auditors go through ethical matters and
how they should carry themselves. The corporate world has experienced some businesses and
firms fail because of not being keen with ethical issues that are the pivotal point to the success of
the company. Morality has led to many individuals who have no interest in accounting as a
profession. The public can relate with the company well if it withholds its ethical matters in a
good way.
Shareholders use the information by the accountants and auditors so that they can
ascertain their financial position and what to invest or share the profits embers of the public or
the client. The Accountants formulate the financial statements, and the auditors go through them
confirmation whether it illustrates the financial position of the business (Velasquez 2002, p.111).
By following ethics and having a clear view of ethical ways in which to conduct business, it
would be a good way of making the public to have faith in the institutions. Accounting has had
several malpractices. The misconducts are making the people feel like the Accountants are not
answerable and can be rude at times when they do not want to be accountable to what they do.
Accountants serve as financial commentators who link up the capital market and are entirely
answerable to the public domain who are part and perusal of the business. When an Accountant
is unethical, he can fluke figures in the data entry that do not conform to the real financial
statements. They change to protect those who have controversial matters and want to manipulate
the daily routine of the running of the business. Some people consider it, creative accounting.
The 1980s had lots of malpractices that were so rampant. What brought about this, was that by
then, there were not enough rules to oversee the accounting profession. It was so because, then,
there existed just little technological advancement that could protect and safeguard the

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Accounting profession. These gross misconducts arose because of being wrong — many
companies and businesses are engaging in. Misconducts contribute to downfall and closure of
many of them.
Some of the wrong issues during the time were characterized by bribery issues and also
distorted the financial analysis. In the case of unethical behavior, an accountant is taken to court
to answer to charges of criminality and trying to defraud a system.
Technology such as photography, video audio recording taking of videos, tapping of calls
should be done to have future reference. Sins of omission are horrible and have adverse effects
on the business. Leaving some calculation out of the systems because they adversely have a
negative implication on the company would be wrong (Donaldson & Preston 1995, p.67). Just
like in the medical profession, accountants can withhold secretive information and sharing it in
public can be a breach of contract. Using the information in incorrect ways would also mean that
there is no ethics. Another unethical way is where a conflict of interest arises. It can be an
example where a higher Accountant receives bonuses from business deals done, but you also
want the same for you. Blowing the whistle is an ethical way of dealing with the fraudsters in the
businesses, but this comes with the risk of you getting the full repercussion of the fight back by
the corrupt individuals in the same company. So it is wise to do it in a calculated manner.
3 Standard use of technology across firms increases competition and creates a level
playing field
Use of technology brings about good level ground for different companies. Being even in
technological advancement means that no company or business will be a monopoly and so the
customers will experience proper goods and services.

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With the changing technology that grows day by day, there need mechanisms to feed the
workers to be taken through workshops and retreats to be taught to use some of this technology
(Porter 1995, p.98). Sticking with the old technology would mean that the company will be
overtaken by the competitors who are on the toe to toe with us. Technology enhances the quality
of services delivered, and it is fast and more convenient. The world is quickly changing in
technological advancements. The software ’s used and programs used in accounting ought to be
always enhanced after a given period time. This is to conform with the changing technology
which is vital to the running of the companies.
One of the software though it is only good for the small companies is Sage Business
Cloud Accounting (SBCA). It is fast for small businesses. All it does, is it makes it simple for
invoicing and accounting. It allows a person to run a business from anywhere anyone can be. It
also gives many transactions as possible. The good thing is that it has low monthly subscriptions
to get to use it (Gereffi 2005, p. 94). The technology can be used concurrently by another
accountant. With other technological advancements, other techniques for carrying out accounting
have been formulated. One is the Sage 200 Evolution which is useful softwares for the large
companies. It is useful because it has control over the finances; the software enhances the
relationship of the workers, those who supply materials and the customer. Software Sage 100
Evolution, though this one is for medium businesses, it integrates all the business functions. It
runs the company from one place. Great accounting software is Sage 50 cloud Pastel partner.
This software takes a keen look at the taxation matters and how to use it to increase productivity.
The software can be used by up to twenty people at the same time. Unlimited companies can also
use the software, which means even in the large or the small companies can use the software
too.it can be installed in the mobile phones or yet integrated into the telephone lines( Mowery

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1995,p .87) . Applying this standard technological expertise across the board would mean great
ways of doing business with ease.
4 Reduced interactions with clients, potentially breaking relationships with clients.
With the technological advancements, the interaction of companies and their clients is
dwindling. Examples are food companies. A client can order food at his or her comfort of the
house. The only thing they do is taking their gadgets like phones or computers and order, which
is then brought by the workers. The foods and drinks can be in dispensers which you just put
money and get what you want without anybody being involved, in case of a question or a
burning issue the company would not be there to address the problems immediately.
Another example is the banks which have ATMs, which dispense money without people
involved. Technology is not reducing interaction with the clients socially; all it is doing is that
businesses and clients do not integrate into a person. The only thing, they do is talk or meet in
technological platforms like phones and computers (Winer 2004, p .318). This form of business
is growing fast. Excellent customer relationship management does rely on advanced technology
for there to be a success in business practices. Through technology, the company can be able to
tell the consumption behavior of the general public which helps build stronger bonds. It helps in
the growth of the company where it can start engaging online selling and helps in putting off
more franchises. With this kind of advancement, it directly translates to having more clients and
so a need arises of a company having to know its clients well and improving customer relations.
Knowing what customers go through and engaging with them, would mean that conforming to
their needs would be easy. Finding out how customers make purchases by looking at social
platforms can help a company know how to meet their needs. Technology has successfully been

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used in the marketing strategies by the companies and has gone further to be used to improve
customer care service.
Maintaining a good customer relationship can lead to the business making more sales;
technology use helps a lot in determining past trends and what to anticipate (Winer 2001, p.98).
When you single more efficiently some of the customer needs, this creates a better relation of
customers and the business. This use of technology can help a company know profitable clients
and those that are not. Without the use of technology, the business cannot know their customers
and so will the customers not trade with the company
Effectiveness in marketing and communication to the customers would be very vital in
building up of a great business. When a firm engages in how to retain customers and giving them
the required service, it can go further to finding new customers. With better customer
relationship, Application service providers can come in to provide web-based solutions to help
customer know of its existence. It is a great move, especially when you want the business to
carry out online transactions and e-commerce(Payne 2005,p.172). When a company does not
have effective communication with clients, the clients will feel the company does not have the
customer’s interest at heart and it will make the get withdrawn from doing business with the
business.
If a company reduces interaction with the customers for example when it is doing some
advertisement in the social media or the main stream media, like the radio and in the TVs will
make the customers forget of an existing product or a service.
5 Increased need for improved controls to adapt to new technologies

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Many of the people in this world we are living in are always afraid of technology keeps
on changing day by day, and what you thought was new today becomes old tomorrow, and you
find that it was replaced. With the increased level of competition among companies, none of
them can fail to adapt to the changing technology (Small 2008, p.20). Changing to new
technology means that more yields are made and that the company will be in the business doing
well.
While adapting new technologies would call for the workers having no problems in using
the latest techniques. We are not the same, and so some can find it difficult to embrace because
of lack of confidence. There are some ways you can help workers adapt to the new technology.
One is the goals that drive you. After introducing technology in the business, one may tend not to
use it and stick to the old ways of doing business. Especially change of software may not be
welcome amongst workers. Having weighed the impact the technology it has on the business
goals, one can tell the extent of the disruption it will have on the existing structures. After
embracing the technology, it is always good to train workers on how to use them well through
proper explanation. Explaining even the economic viability, it will have on the business. Making
the workers understand that you are just trying to elevate the company would be even easier for
them to embrace it well (Margalit 2019, p.92),. Having a learning workshop would help some
workers become more enlightened by now understanding the unknown, and it becomes easier for
them to adapt well. Another way of ensuring workers do take to the changes is by creating a
robust feedback system where you can have a question and answer system to answer to questions
not understood by workers or their ideas and recommendations well listened.
They are illustrating how change makes advancement, like in the workflows, which over
time become more comfortable to handle, or making the jobs faster than they were before.

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Business profession advocates for the adapting of the new technology. There has been an
increase in cloud-based application use; these applications help in merging of documents
(Jackson 2008, p.24). As an Accountant it is good to encourage workers to be innovative; this
goes much ahead in assisting them to be more adaptive to new technologies. Before phones made
calls only but with the coming of more innovations now many things are entirely possible like
making of transactions and much more tasks done with ease.
With many innovations around, it is good to always look for ways of adapting and
avoiding fearing them would be advisable.

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