Risk driven innovation in the not so boring accountancy profession

IF 3.3 Q1 BUSINESS, FINANCE Journal of International Accounting Auditing and Taxation Pub Date : 2024-12-25 DOI:10.1016/j.intaccaudtax.2024.100675

Marc Cowling , Charles A. Ambilichu , Liafisu Sina Yekini , Kamil Omoteso

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Abstract

The accountancy profession is in a period of dynamic innovation driven change as new information technologies reconfigure the way business is conducted and the services that accountancy firms offer to their clients. As with all innovation, there is also the potential for disruptive change with risky outcomes. However, not all businesses are willing to take on these risks. In this paper, we explore two research questions: Who is willing to take risks with their business? Also, are risk-loving accountants more likely to be innovative? Using new survey data from United Kingdom (UK) accountancy practices, we find that accountants that have an appetite for risk are significantly more likely to be innovative in both their internal processes and practices as well as externally through the development of new products, services, and markets. Further, we find that the perception of increased market competition/turbulence negatively affects product and service innovations, but not process, managerial, and marketing innovations of accountancy firms.

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来源期刊

Journal of International Accounting Auditing and Taxation BUSINESS, FINANCE-

CiteScore

4.50

自引率

3.80%

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期刊介绍： The Journal of International Accounting, Auditing and Taxation publishes articles which deal with most areas of international accounting including auditing, taxation and management accounting. The journal''s goal is to bridge the gap between academic researchers and practitioners by publishing papers that are relevant to the development of the field of accounting. Submissions are expected to make a contribution to the accounting literature, including as appropriate the international accounting literature typically found in JIAAT and other primary US-based international accounting journals as well as in leading European accounting journals. Applied research findings, critiques of current accounting practices and the measurement of their effects on business decisions, general purpose solutions to problems through models, and essays on world affairs which affect accounting practice are all within the scope of the journal.

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