Technology-Driven Cost Accounting Practices and their Impact on Operational Efficiency in Audit Firms

Abstract

The Fast-paced development of digital technologies has positively influenced accounting practices by enhancing the process of recording, processing, analyzing and reporting financial information. Technology-driven cost accounting practices in audit firms are helpful in the process of monitoring expenditures, preparing cost reports in time, achieving high accuracy and effective use of organizational resources. This study aims at investigating the influence of technology-driven cost accounting practices and operational efficiency in audit firms. Technology Adoption, Employee Competency, Management Support and Internal Control System were identified as significant factors related to Effective Cost Accounting Practices. Data collection was conducted through primary data, which were gathered from 100 respondents using a structured questionnaire based on a five-point Likert scale. The collected data were analyzed using statistical methods provided by SPSS software including descriptive statistics, reliability test, correlation test, regression test and ANOVA. The results of the study show that technology is able to help improve cost accounting effectiveness and ensure operational efficiency under the condition of proper employee competence, management support and effective internal control system