TECHNOLOGICAL INNOVATION AND PERFORMANCE OF AUDITING FIRMS IN NIGERIA (A STUDY OF BIG 4)

Onuoha Perpetua Ijeoma (Ph.D); Utom Cynthia Ogbonne

Authors

Onuoha Perpetua Ijeoma (Ph.D) Accountancy Department, Faculty of Management Sciences Alex – Ekwueme Federal University Ndufu - Alike, Nigeria.
Utom Cynthia Ogbonne Accountancy Department, Faculty of Management Sciences Ebonyi State University Abakaliki, Nigeria.

Keywords:

Technological Innovation, Audit Firm Performance, Audit Automation, ICT Adoption, Emerging Technologies, Big 4 Auditing Firms, Nigeria

Abstract

This study examined the influence of technological innovation on performance of auditing firms in Nigeria using the Big 4 firms as case study. In detail, this study aimed to evaluate the extent to which audit automation, ICT usage and new technologies affect auditing firms performance. Quantitative design research approach was used in this study and panel data covering years 2020-2025 were utilized. Data were created artificially and analyses was carried out using descriptive statistics, correlation analysis and multiple regression technique using E-View10.0 so as to examine the associations and influences of technological innovations on firm performance. Results indicate that the firm performance were reasonably high during the sample years, with high positive correlation between all the technological variables and performance. Also regression analysis results show that audit automation, ICT usage, new technologies have positive significant impact on performance and all these three variables together explain up to 98% of the variance in firm performance. The study concluded that technological innovation have a crucial influence on productivity, efficiency and competition of auditing firms in Nigeria. The study recommended that firms should continuously adopt and update the digital accounting system, increase the adoption of audit automation tools and newly introduced technologies like artificial intelligence and block chain for efficient performance.

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TECHNOLOGICAL INNOVATION AND PERFORMANCE OF AUDITING FIRMS IN NIGERIA (A STUDY OF BIG 4)

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