Redefining Accounting Practices in Malaysia: Harnessing Emerging Technologies for Future-Ready Organizations

Abstract

This thesis investigates the impact of Digital Transformation on the accounting profession in Malaysia, mainly through the lens of Disruptive Innovation Theory. It identifies critical gaps in existing research and highlights how digital disruption, driven by technologies like AI and cloud-based accounting software, alters the roles of accounting professionals, necessitating greater IT knowledge and soft skills. A case study of ACCSOFT, a Malaysian accounting software company, illustrates the disruptive potential of its AI-enabled services for small and medium-sized enterprises (SMEs). Findings reveal that while automation poses challenges, accountants retain unique advantages, such as social capital and strategic thinking. The study concludes that future disruption depends on accountants' adaptability and creativity in meeting client needs.