Digital Transformation in Contemporary Accounting: Implications for Transparency and Governance

Abstract

The rapid advancement of digital technology has fundamentally transformed contemporary accounting practices. Accounting is no longer confined to traditional financial recording and reporting, but has evolved into a strategic, data-driven system that supports decision-making, enhances transparency, and strengthens governance. This study aims to examine the role of digital transformation in contemporary accounting, focusing on its key characteristics, the integration of emerging technologies, associated challenges, and implications for transparency and governance. The research employs a qualitative approach through an extensive literature review of relevant academic sources. The findings reveal that digitalization significantly improves the efficiency, accuracy, and relevance of accounting information, while also promoting greater transparency and accountability. However, it simultaneously demands higher levels of digital competence, adaptability, and ethical awareness among accounting professionals to effectively address emerging risks and challenges in the digital era.