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Authors
Fredrick Uyiosa Osazuwa
University of Benin
+2348056383784
Timothy Oboh
University of Benin
+2347065245945
Abstract
This study investigates how disruptive technologies specifically blockchain and artificial intelligence (AI) are transforming the Financial reporting process (financial reporting and auditing). The research adopted a descriptive and qualitative approach, relying on an extensive review of recent theoretical and empirical literature from reputable journals and institutional reports. The study was anchored on three theoretical frameworks: the Technology Acceptance Model (TAM), Technology Organization Environment (TOE) framework, and Resource Dependence Theory (RDT), which collectively explain the behavioural, organizational, and strategic factors influencing the adoption of blockchain and AI in financial reporting.
The findings reveal that blockchain enhances transparency, data integrity, and trustworthiness through its immutable ledger, while AI improves efficiency, accuracy, and fraud detection through automation and predictive analytics. The integration of these technologies redefines the roles of accountants and auditors, shifting focus from routine data entry to strategic analysis and decision-making. However, the study identifies key challenges such as regulatory uncertainty, high implementation costs, ethical concerns, data privacy issues, and limited digital competence, particularly among small and medium-sized enterprises.
Based on these findings, the study recommends that regulators establish clear frameworks and standards for technology integration, accounting professionals engage in continuous digital training, and organizations invest in technological infrastructure and ethical governance. It further calls for empirical research to measure the quantitative impact of blockchain and AI on financial reporting quality, transparency, and performance outcomes.
Keywords: AI, Block Chain, Financial reporting quality
