Impact of Information Technology and Information Systems on the Development of the Accountancy Profession - A Case Study

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Abstract

In this research we try to explore the notion of information technology in a holistic context. The main focus of the research is on the profession of accounting and its linkage to technology in the contemporary world. This research also analyzes many aspects of the information technology & tries to gauge its effect on the profession of accounting and information systems.



Chapter 1: Introduction

The Research Motivation

In the contemporary world of burgeoning technological innovation, every field is required to update itself with the innovations of information and technology. This is of immense significance because of the fact that Information technology grasps and heightens various of founded personal and professional trouble-shooting activities by inventing, planning, formulating and employment of technology affirmed and grounded systems and apparatus that promotes presentation and skillfulness of information in a number of premeditated, computed, and operational considerations.

In this regard, those industries who do not comply to the international standards of technology and fail to incorporate IT into their business concerns have to face a lot of trouble because of the progressive competition in the market.

Since the implementation of information and technology is of immense importance in every field of profession, it has immensely impacted the field of accountancy in the way things are executed. In this study, I am going to talk about the banking sector in Libya and how the implementation of information and technology has influenced the profession of accountancy in the region. This research aspires to examine the purpose of information technology (IT) in the Libyan banking industry. Based on the research, technological introductions have altered the industry to pioneer effective deliverance channels. (Brown & Caylor 2006, 409-434)

It is assumed that IT has aided the ...