Implications of Digitalization on the Accounting Profession, Auditing Practices, and Accounting Education in Iraq: Challenges and Proposed Solutions

Abstract

This research aims to investigate the impact of digital transformation on the
accounting profession and accounting education by analyzing its implications for
accountants’ performance efficiency and the ability of educational curricula to keep
pace with technological advancements, as well as identifying the key challenges
hindering the success of this process. The study examined the extent to which digital
tools contribute to accelerating financial operations, facilitating auditing, and
enhancing financial analysis capabilities, in addition to evaluating the effectiveness
of curricula and academic staff in adapting to the digital environment. The findings
revealed that digital transformation has created a qualitative shift in the accounting
and auditing profession and contributed to improving the quality of accounting
education. However, several obstacles still limit its effectiveness, most notably
concerns related to information security, insufficiently qualified human resources,
and limited financial resources. Accordingly, the research recommends developing
accountants’ skills to adapt to digital requirements, updating measurement and
disclosure systems and accounting standards in line with rapid technological
developments, enhancing the competencies of faculty members in colleges of
economics and business administration, updating financial and regulatory legislation,
and strengthening accountants’ participation in workshops and specialized training
programs to meet the demands of the digital economy.