Abstract

This capstone project analyzes how Kosovo's audit and accounting industry is being affected by digital transformation. Its aim is to explore how digitalization affects skills gaps, job accuracy, company costs, and productivity in different sectors at a time when technological breakthroughs are drastically changing industry. Professionals from Big 10 accounting and audit firms as well as a local Kosovo accounting business were interviewed to gather insights on the potential and difficulties brought about by digital tools and technologies. Research findings show that digital transformation is considerably bridging the skills gap in the industry, imposing constant professional development and adjustment to new technological standards. Task accuracy has been significantly improved by digital tools, predominantly through automation and AI, leading to higher efficiency and reduced error rates. Additionally, while initial investments in digital technologies may be extensive, they eventually contribute to long-term cost savings and improved business efficiency. The ultimate effect of these changes is a considerable increase in overall productivity. This project offers recommendations for effectively navigating the digital transformation in the accounting and audit sectors in Kosovo. These include constant investment in training, strategic employment of digital tools, emphasis on soft skills development, nurturing a culture of innovation within companies, and increased cooperation between IT and accounting professionals for streamlining the digital transformation. The paper highlights the need of implementing a strategic approach to digital transformation, ensuring that businesses in Kosovo can fully reap the benefits of technological advancements while overcoming the obstacles associated with said change.

Publication Date

7-2024

Document Type

Senior Project

Student Type

Undergraduate

Advisor

Venera Demukaj

Advisor/Committee Member

Fadil Sahiti

Advisor/Committee Member

Lorraina Pinnell

Campus

RIT Kosovo

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