Robotic process automation in routine accounting tasks: A review and efficiency analysis
1 Barclays Bank, United Kingdom.
2 Independent Researcher, Lagos, Nigeria.
3 City Power, Johannesburg, South Africa.
Review Article
World Journal of Advanced Research and Reviews, 2024, 22(01), 695–711
Article DOI: 10.30574/wjarr.2024.22.1.1156
Publication history:
Received on 01 March 2024; revised on 11 April 2024; accepted on 13 April 2024
Abstract:
In the dynamic tapestry of the modern accounting landscape, the incursion of Robotic Process Automation (RPA) stands as a beacon of transformative potential, heralding a new epoch of efficiency and precision. This scholarly exploration delves into the heart of this metamorphosis, aiming to unravel the complexities of RPA's integration within accounting practices, its impact on the profession, and the ethical and operational challenges it precipitates. With a methodological rigor that marries qualitative analysis with an exhaustive review of contemporary literature, this study meticulously maps the contours of automation's influence on accounting, from task selection and implementation frameworks to the comparative efficacy of automated versus traditional methodologies. The investigation further probes the repercussions of RPA on the professional trajectory of accountants, revealing a dual narrative of opportunity and obsolescence. The findings illuminate significant efficiency gains and accuracy improvements, underscored by a nuanced cost-benefit analysis that advocates for the economic prudence of automation adoption. The research prognosticates a redefined role for accountants, pivoting towards strategic advisory and analytical prowess, albeit shadowed by challenges in ethical governance and technological assimilation. In conclusion, this paper achieves its scholarly objectives and charts a forward path, recommending a symbiotic fusion of academic curricula and industry practices to align with the digital zeitgeist. It calls for strategic frameworks to navigate the ethical dilemmas and implementation hurdles of RPA, advocating for a future where automation augments human intellect, fostering an era of unparalleled efficiency and strategic acumen in accounting.
Keywords:
Robotic Process Automation; Accounting Practices; Efficiency Gains; Professional Development; Ethical Challenges; Technological Integration
Full text article in PDF:
Copyright information:
Copyright © 2024 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0