IMPACT OF BIG DATA ANALYSIS ON ACCOUNTING INFORMATION SYSTEM

Abstract

The study examined the impact of big data analysis on accounting information system. It was guided by five research questions. A descriptive research design of survey type was used. The population of this study comprised all staff of Commercial Banks in Ijebu-Ode local government area of Ogun State. A total of 50 accountants of Commercial Banks in Ijebu-Ode local government area of Ogun State were selected as sample size of the study using stratified sampling technique. A self-researcher-designed instrument tagged: Big Data Analysis and Accounting Information System Questionnaire (BDAAISQ) with reliability coefficient 0.92 was used for data collection. Regression was used for answering research question 1. Research questions 2 and 4 were answered using PPMC while 3 and 5 were analyzed using mean and standard deviation. The findings of the study indicated that there was positive impact of BDA on AIS in financial reporting (β = .381, t = 4.077, p < .05). There was positive relationship between big data analysis and accounting information system (r = 0.441, p < .05). High cost of BDA tools/software, lack of skilled personnel (data scientist/analysist), data pricing, resistance to change from traditional accounting method and confusion with big data selection were among the challenges and opportunities in adopting BDA for AIS. There was positive relationship between big data analysis and effective decision-making (r = 0.522, p < .05). Allow auditor to analyses 100% improve fraud detection in audit, improve fraud detection in audit, continuous use auditing powered by BDA reduces compliances, enhances risks management in audit, and improved audit quality were among the role of BDA in enhancing audit process. It was recommended that banks/firms should prioritize the management of big data to improve their accounting information. More so, through collaboration, training and complementarities, Banks should ensure successful implementation and adoption of sensor data usage to increase efficiency and effectiveness.