The influence of technological advancements on the relationship between professional competence, based on the International Education Standards for Professional Accountants (IES), and the quality of financial reports

Abstract

This study aimed to examine the impact of professional competence based on international education standards on financial reporting quality and analyze the influence of technological advancements on the relationship between professional competence based on international education standards and financial reporting quality. The sample consisted of 365 accounting firms in Thailand. The data were collected by using a questionnaire. The statistical tools used for data analysis included frequency distribution, percentage, mean, standard deviation, and multiple regression analysis. The results revealed that international education standards for accounting professionals, technological advancements, and overall financial reporting quality were highly correlated. Furthermore, International Education Standards for accounting professionals had a significant positive effect on financial reporting quality at the 0.05 level. Technological advancements also had a positive influence on professional skill competence and financial reporting quality. In conclusion, technology plays a crucial role in enhancing personnel's skills and enabling fast, accurate data processing, which significantly improves the quality of financial reporting. The study concluded that technological advancements have a two-way effect: they enhance professional competence in skills and the quality of financial reporting, while simultaneously reflecting the evolving role of accountants in the digital age from technical practitioners to strategic data analysts. This conclusion implies the need to develop digital knowledge and skills alongside maintaining professional ethics standards to strengthen stakeholder confidence and promote the long-term sustainability of the accounting profession.