Digital Transformation of Accounting Firms The Perspective of Employees from Quality Accounting Firms in Thailand
Article Sidebar
Main Article Content
Abstract
This research aimed to study the digital transformation of accounting firms and investigate the factors affecting it. A questionnaire was used to collect data from 260 employees of 162 quality accounting firms in Thailand. Data obtained were analyzed using descriptive statistics, Pearson’s correlation analysis, and MIMIC analysis for testing hypotheses. The results revealed that successful digital transformation depended on adopting digital processes, having a digital mindset, developing digital culture, and obtaining digital knowledge and skills. Four factors that accounted for 84% of digital transformation ability were accounting firms’ executive leadership, business model and organizational structure adopted, resource accessibility, and external support. Information and findings obtained from this research can benefit accounting firms and lead to the development of guidelines by agencies relevant to Thailand’s accounting profession. This would improve the transition process in becoming a digital accounting firm.
Article Details
Copyright: Asia-Pacific International University reserve exclusive rights to publish, reproduce and distribute the manuscript and all contents therein.
References
Berman, S. J. (2012), Digital transformation: Opportunities to create new business models. Strategy & Leadership, 40(2), 16–24. https://doi.org/10.1108/10878571211209314
Blueback Global. (2020, February 10). 10 accounting trends every business should follow in 2020. https://bluebackglobal.com/ten-accounting-trends-every-business-should-follow-2019/
Brown, M. W., & Cudeck R. (1992). Alternative ways of assessing model fit. Sociological Methods & Research, 21(2), 230–258. https://doi.org/10.1177/0049124192021002005
Byrne, B. M. (2001). Structural equation modeling with AMOS: Basic concepts, applications, and programming. Lawrence Erlbaum.
Clark, L. (2019, January 25). Leadership essentials: Where digital dependence meets human connection. GP Strategies. https://blessingwhite.com/leadership-essentials-where-digital-dependence-meets-human-connection/
Cronbach, L. J. (1951). Coefficient alpha and the internal structure of tests. Psychometrika, 16(3), 297–334. https://doi.org/10.1007/BF02310555
Department of Business Development. (2020a). Krom phạt p̄hey nyobāy pī 63 rèng p̄hlạk dạn 162 s̄ảnạkngān bạỵchī khuṇp̣hāph s̄ū̀ kār pĕn s̄ảnạkngān bạỵchī dicithạl phr̂xm txb cothy̒ yuthṭhṣ̄ās̄tr̒ chāti [Krom Phat reveals the policy of the year 63 to accelerate the push of 162 quality accounting firms to become a digital accounting firm, ready to meet the national strategy]. https://www.dbd.go.th/news_view.php?nid=469416694
Department of Business Development. (2020b). Rāy chụ̄̀x læa thī̀ tậng k̄hxng s̄ảnạkngān bạỵchī thī̀ p̄h̀ān kār rạbrxng khuṇp̣hāph s̄ảnạkngān bạỵchī [Names and locations of accounting firms that are certified accounting firm quality]. https://www.dbd.go.th/news_view. php? nid=5303
Farnell, W. (2019, June 26). Opportunities for accounting firms in a digital world. Accounting Influencers. https://feeds.captivate.fm/accountinginfluencers/
Hambleton, R. K. (1984). Validating the test scores. In R. A. Berk (Ed.), A guide to criterion-referenced test construction (pp. 199–230). Johns Hopkins University Press.
Injun, R. (2009). Pạccạy thī̀ mī p̄hl t̀x khwām k̂āwh̄n̂ā kār t̄h̀āy xon p̣hārkic h̄ı̂ kæ̀ xngkh̒kr pkkhrxng s̄̀wntĥxngt̄hìn: Ṣ̄ụks̄ʹā c̄hephāa krṇī xngkh̒kār brih̄ār s̄̀wn tảbl (xbt.) Nı cạngh̄wạd nkhrpṭ̄hm [Factors affecting the progress of mission transfer to local government: A case study of subdistrict administration organization in Nakhonpathom province [Doctoral dissertation, Sripatum University]. http://dspace.spu.ac.th/handle/123456789/4535
Intuit (2011). Intuit 2020 report-future of the accounting profession. http://http-download.intuit.com/ http.intuit/CMO/intuit/futureofsmallbusiness/intuit_corp_vision2020_0111v5.pdf
Kaltum, U., Widodo, A., & Yanuardi, A. W. (2016). Local TV goes to global market through digital transformation. Academy of Strategic Management Journal, 15, 221–229.
Khunpolkaew, J. (2018). 4 H̄ạwcı s̄ảkhạỵ pheụ̄̀x phạtʹhnā xngkh̒kr pị s̄ū̀ xngkh̒kr dicithạl (Digital Organization) [4 keys to developing the organization to a digital organization (Digital Organization)]. UP 2BE. https://www.up-2be.com/4-%E0%B8%AB%E0%B8%B1%E0%B8%A7%E0%B9%83%E0%B8% 88%E0%B8%AA%E0%B8%B3%E0%B8%84%E0%B8%B1%E0%B8%8D-%E0%B9%80%E0%B8%9E%E0% B8%B7%E0%B9%88%E0%B8%AD%E0%B8%9E%E0%B8%B1%E0%B8%92%E0%B8%99%E0%B8%B2/
Kline, R. B. (2005). Principle and practice of structural equation modeling. Guilford Press.
Krüger, N., & Teuteberg, F. (2016, March 9–11). IT consultants as change agents in digital transformation initiatives [Paper presentation]. Multikonferenz Wirtschaftsinformatik, Ilmenau, Germany. https://www.researchgate.net/publication/297737458_IT_Consultants_as_Change_Agents_in_Digital_Transformation_Initiatives
Likert, R. (1932). A technique for the measurement of attitude. Wood Worth.
Maneemai, P., Saeteang, N., Chuaysud, A., Khomkla, B., & Buraphasiriwat, P. (2018, June 8). Khwām pĕn dicithạl k̄hxng s̄̊ā nạkngān bạỵchī thịy [Digitalization of the Thai Accounting Office]. [Paper Presentation]. 2nd UTCC Academic Day National Academic Conference. University of Thai Chamber of Commerce. https://scholar.utcc.ac.th/handle/6626976254/3820
Matichon Online. (2020, January 7). DBD rèng yk radạb s̄ảnạkngān bạỵchī khuṇp̣hāph 162 h̄æ̀ng pĕn s̄nng.Bạỵchī dicithạl [DBD accelerates the upgrade of 162 quality accounting firms to digital accounting firms]. Matichon Online https://www.matichon.co.th/news-monitor/news_1870580
Nunnally, J. C. (1967). Psychometric theory. McGraw-Hill.
Pongtanee, P. (2009). Pạccạy thī̀ s̄̀ng p̄hlk ra thb t̀x khuṇp̣hāph kār brikār k̄hxng s̄ảnạkngān bạỵchī nı pratheṣ̄thịy [Factors the affect the service quality of accounting firms in Thailand]. Suthiparithat Journal, 22(67), 17–36
Rafferty, A. E., & Griffin, M. A. (2004). Dimensions of transformational leadership: Conceptual and empirical extensions. The Leadership Quarterly, 15(3), 329–354. https://doi.org/10.1016/j.leaqua.2004.02.009
Remane, G., Hanelt, A.,Nickerson, R. C., & Kolbe, L.M. (2017). Discovering digital business models in traditional industries. Journal of Business Strategy, 38(2), 41–51. https://doi.org/10.1108/JBS-10-2016-0127
Reynolds, P. (2019, October 31). Key factors of digital transformation. ARC Advisory Group. https://www.arcweb.com/blog/key-factors-digital-transformation
Schumacker, R. E., & Lomax, R. G. (2004). A beginner’s guide to structural equation modeling (2nd ed.). Lawrence Erlbaum.
Stevens, J. (1996). Applied multivariate statistics for the social sciences (3rd ed.). Lawrence Erlbaum.
Sunkpho, J., Juntiwasarakij, S., & Udeerum, S. (2017). P̣hā wa p̄hū̂ n̊ā nı kār brih̄ār xngkh̒kr yukh dicithạl krṇī ṣ̄ụks̄ʹā: Xngkh̒kr xịthī læa xngkh̒kr thī̀ keī̀ywk̄ĥxng kạb xịthī nı k̄het krungthephmh̄ānkhr læa primṇṯhl [Digital leadership a case study: Enterprise it and it-related organizations in Bangkok and its vicinity] [Research paper]. http://cio.citu.tu.ac.th/cio2017/wp-content/uploads/2017/08/04-2407.pdf
Vessenes, P. (2016, April 27). 3 Trends that are affecting the accounting profession. CPA Practice Advisor. https://www.cpapracticeadvisor.com/accounting-audit/news/12198703/3-trends-that-are-affecting-the-accounting-profession