ArticlePDF Available

Assessing the impacts of digital transformation on internal auditing: A bibliometric analysis

September 2021
Technology in Society 67(3)

DOI:10.1016/j.techsoc.2021.101738

Authors:

Simone Pizzi

University of Salento

Andrea Venturelli

University of Salento

Michele.Variale Variale

Telepass

Giuseppe Pio Macario

University of Bari Aldo Moro

During the last years, the impacts caused by digital transformation on companies have been disruptive. Contrarily to prior technological revolutions, the current scenario is characterized by the rapid growth of innovation that has impacted organizations differently. In particular, an increasing number of organizations revised their management control systems to adequate their business models to the external pressures made by competitors and regulators. The research aims consist of a bibliometric analysis about the impacts caused by digital transformation on managerial auditing. The research reveals the existence of four independent research area: continuous auditing (Green Cluster), fraud detection (Blue Cluster), data analytics (Yellow Cluster) and technological innovation (Red Cluster). Finally, we developed a research agenda in order to address future research.

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Assessing the impacts of digital transformation on internal auditing: a bibliometric analysis

Available at: https://doi.org/10.1016/j.techsoc.2021.101738

Abstract

During the last years, the impacts caused by digital transformation on companies have been disruptive.

Contrarily to prior technological revolutions, the current scenario is characterized by the rapid growth of

innovation that has impacted organizations differently. In particular, an increasing number of organizations

revised their management control systems to adequate their business models to the external pressures made by

competitors and regulators. The research aims consist of a bibliometric analysis about the impacts caused by

digital transformation on managerial auditing. The research reveals the existence of four independent research

area: continuous auditing (Green Cluster), fraud detection (Blue Cluster), data analytics (Yellow Cluster) and

technological innovation (Red Cluster). Finally, we developed a research agenda in order to address future

research.

Keywords: digital transformation, audit, bibliometrics, literature review

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Bu çalışma, iç denetim ve dijitalleşme temalarının bir arada kullanıldığı yayınlar hakkında derinlemesine bilgi sahibi olmaya yönelik olarak gerçekleştirilmiş olup bibliyometrik analiz yöntemine dayanmaktadır. Çalışmanın genel akışının ve amacının anlatıldığı "giriş" bölümünden sonra yer alan "kavramsal çerçeve" bölümü, iç denetimin tarihsel süreç boyunca yaşadığı değişimi ve endüstriyel gelişmelerden ne şekilde etkilendiğini; dolayısıyla günümüzdeki dijitalleşmenin iç denetim açısından ne gibi bir önem taşıdığını ele almaktadır. Araştırmada kullanılan yayınlar "Scopus" veri tabanından sağlanmış olup bulgular kısmında VOSviewer programı yardımıyla gerçekleştirilen "Ortak yazar analizi", "Yazarların atıf analizi", "Eserlerin atıf analizi", "Ülkelerin atıf analizi", "Kurumların atıf analizi", "Anahtar sözcük analizi", "Eserlerin bibliyografik eşleşme analizi", "Yazarların bibliyografik eşleşme analizi" ve "Ortak yazarların ortak atıf analizi" başta olmak üzere çeşitli trendlere, istatistiki bilgilere ve açıklamalara yer verilmiştir. Araştırmada, hızla gelişen dijitalleşme karşısında işletmeler açısından iç denetimin ne denli önemli olduğunu vurgulanmakta, bu sebeple de bu alanda yapılacak olan araştırma ve yayınların sayısının artmasının öneminin altı çizilmektedir. Tüm bunların yerine getirilebilmesi içinse, mevcut literatürün çok iyi özümsenmesi, hayati bir başlangıç noktası olarak görülmektedir. This study was conducted to obtain in-depth information about publications that integrate the themes of internal audit and digitalization, utilizing bibliometric analysis. The "conceptual framework" section, which follows the "introduction" that explains the general flow and purpose of the study, emphasizes how internal audit has been affected by technological developments throughout history and how it has evolved, highlighting the importance of today's digitalization for internal audit. The publications applied for in this study have been searched from the database "Scopus." The findings section includes various trends and statistical information, especially " with the help of the VOSviewer program. The research emphasizes the critical importance of internal audit for businesses in the face of rapidly developing digitalization. Therefore, the study underscores the need to increase the number of research and publications in this field. A thorough understanding of the existing literature is a vital starting point to achieve this goal.

The role of Cyber Security and Digital Transformation in gaining Competitive Advantage through Strategic Management Accounting

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Jun 2025
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Consumer Savings and Digital Remittance in Open Banking: Insights From Bibliometric and Geospatial Econometric Analysis

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Full-text available

Jan 2025

Open banking (OB) refers to financial institutions opening their data and services to external parties via application programming interfaces (APIs), a practice that has been increasingly adopted globally since its 2018 regulatory inception in the United Kingdom. Despite its growth, there is still a lack of academic studies examining its impact on consumer financial behaviors on a global scale. This study addresses this gap by exploring OB’s influence on consumers’ formal saving and digital remittance behaviors worldwide. Using a mixed methods design, we combine bibliometric analysis and geospatial econometric modeling on Scopus OB bibliographic data and consumer financial preferences data from 2021 to 2022 across 139 countries. While the bibliometric results highlight the need for more international collaborations in OB research that reflect the ongoing collaborations in its implementation around the world, the econometric findings reveal significantly positive benefits for consumers globally, increasing the likelihood of formal saving and digital remittance. Specifically, consumers in countries with Revised Payment Services Directive (PSD2)–regulated initiatives, market-driven initiatives, and other non-PSD2 initiatives show higher marginal utilities (MUs) from digital remittance (39.1%–56.7%) compared to those in countries without OB initiatives. Additionally, consumers in PSD2 and market-driven countries exhibit higher MUs from formal saving by 61.8% and 37%, respectively, compared to those without OB initiatives. Overall, in addition to the implications for global open innovation, the paper provides reasonable evidence, supporting OB implementation to achieve several Sustainable Development Goals (SDGs) and the associated benefits to consumers’ worldwide.

A review of the structured framework for sustainability audits in manufacturing organizations

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Revolutionizing internal auditing: harnessing the power of blockchain

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ENTERP INFORM SYST

Four Research Pathways for Understanding the Role of Smart Technologies in Accounting

Article

Full-text available

Jul 2021

Purpose – This paper studies the role of smart technologies (e.g., Artificial intelligence, Internet of Things (IoT), Blockchain, and Analytics, among others) in the accounting environment. In this context, the nuances of innovation generated by such technologies allow for tracing the merging trends in accounting research. Design/methodology/approach – We use an integrated qualitative methodology composed of structured literature analysis (SLR) and systematic literature analysis to study scientific papers published and stored in prominent databases from 2000 to 2020. We collected a dataset sharing topics related to smart technologies and innovation in the accounting environment. Findings – Our primary findings reveal four research paths of innovation, impact, implication, and intelligence in accounting research as follows: 1) smart technologies as innovations to be managed; 2) smart technologies as impacting tools affecting the accounting environment in certain circumstances; 3) smart technologies as a source generating relevant implications; and 4) Smart technologies as factors requiring new and updated knowledge, skills, and abilities (KSA) of actors. Originality/value – The joint investigation of the accounting environment and smart technologies poses a milestone for future academic and professional accounting research. This paper proposes a new framework (SMATECHacc Framework) consisting of four pathways research that can be used by future researchers to consider and construct their own research designs. Keywords: accounting; smart technologies; accounting environment; innovation; impact; implication; intelligence.

The disruption of Blockchain in Auditing - A Systematic Literature Review and an Agenda for Future Research

Article

Full-text available

Apr 2022
Account Audit Account J

Purpose - This paper presents a systematic literature review, including content and bibliometric analyses, of the impact of blockchain technology (BT) in auditing, to identify trends, research areas, and construct an agenda for future research. Design/methodology/approach – We include studies from 2010 to 2020 in our Structured Literature Review (SLR), using accounting journals on the Scopus database, which yielded 40 articles with blockchain and auditing at its core. Findings – One of the contributions of our analyses is to group the prior research, and therefore also the agenda for future research, into three main research areas: 1) Blockchain as a tool for auditing professionals to improve business information systems to save time and prevent fraud; 2) Smart contracts enabling Audit 4.0 efficiency, reporting, disclosure and transparency; 3) Cryptocurrency and Initial Coin Offerings (ICOs) as a springboard for corporate governance and new venture financing. Our findings have several important implications for practice and theory. Implications for research and practice – The results of our study emphasize that 1) the disruption of blockchain in auditing is in a nascent phase and there is a need for compelling empirical studies and potential for the involvement of practitioners; 2) there may be a need to reconsider audit procedures especially suited for digitalisation and BT adoption; 3) standards, guidelines, and training are required to pivot towards and confront the challenge BT will represent for auditing; and 4) there are two sides to the BT coin for auditing, enthusiasm about the potential and risk upon implementation. These practical implications can also be seen as a template for future research in a quest to align theory and practice. Originality/value – Our SLR facilitates the identification of research areas and implications, forming a useful baseline for practitioners, professionals and academics, as we draft the state of the art on the disruption of blockchain in auditing, highlighting how BT is changing auditing activities and traditions.

Digitalization and business models: Where are we going? A science map of the field

Article

Full-text available

Oct 2020
J BUS RES

Scientific research on digitalization and its impact on business models has been growing exponentially in recent years. This has been particularly evident from 2010 onwards, following a landmark special issue published in Long Range Planning. This article offers an overview of the development of academic literature published between 2010 and 2019 with regards to the relationship between digitalization and business models in 198 peer-reviewed articles. By applying a novel methodological approach to compare results from different bibliometric analyses, such as the analysis of citations, co-citations, bibliographic coupling, and co-occurrences of keywords, we have identified the most influential journals, authors, and articles, as well as three thematic clusters (technological innovation, strategic management, and digital transformation). For each cluster, the most relevant contributions are presented. Promising research areas and future research directions are identified to address the existing gaps in knowledge.

Management research and the UN Sustainable Development Goals (SDGs): a bibliometric investigation and systematic review

Article

Full-text available

Sep 2020
J CLEAN PROD

The comprehension of the businesses' impact to sustainable development requires consideration of the different factors that affect firms' behavior, such as corporate governance, non-financial regulation, and the external environment. The contribution of business and management scholars to the discussion surrounding the Sustainable Development Goals (SDGs) and their impact for business organizations has grown exponentially in the last years. This review systematically examines, through bibliometric and systematic literature review methods, the scientific knowledge about SDGs and the business sector, analyzing (after fine-tuning) 266 articles published in leading journals between 2012 and 2019. The results reveal the existence of four research themes: technological innovation (cluster 1), firms' contributions in developing countries (cluster 2), non-financial reporting (cluster 3), and education for SDGs (cluster 4). The main insights from the analysis of the papers are discussed, future research directions and practical implications for the field of study are provided.

Twenty years of XBRL: what we know and where we are going

Article

Sep 2020

Purpose This paper aims to extend the knowledge of eXtensible Business Reporting Language (XBRL) to synthesize what 20 years of accounting and business literature on XBRL suggests about the effective improvement from its implementation in financial reporting. Design/methodology/approach A systematic literature review and bibliometric analysis of 142 articles resulted in the identification of 5 primary research streams: adoption issues; financial reporting; decision-making processes, market efficiency and corporate governance; audit and assurance issues; and non-financial reporting. Findings The results reveal a scarcity of studies devoted to explicating the consequences of XBRL implementation on financial reporting outside the SEC’s XBRL mandate and listed companies’ contexts. Also, some papers’ results question the usefulness of the language on the decision-making process. The overall lack of literature concerning the impact of XBRL on financial statement preparers, especially with reference to SMEs, is evident. Moreover, the consequences on corporate governance choices and the relevant internal decision-making processes are rarely debated. Research limitations/implications The findings are useful for users of companies’ financial disclosure policies, particularly for regulators who manage XBRL implementation in countries where XBRL has not yet been adopted as well as for others working in specific areas of financial disclosure, such as non-financial reporting and public sector financial reporting. Originality/value This study differs from previous literature on XBRL as it focuses on a wider period of analysis and offers a unique methodology – combination of bibliometric and systematic review – as well as a business perspective for deepening XBRL.

The impact of digital transformation and digital marketing on the brand promotion, positioning and electronic business in Montenegro

Article

Nov 2020
Tech Soc

The paper assesses the ways in which digital transformation in Montenegro influences the use of digital marketing in business, determining the impact of this concept on promotion and brand positioning, i.e. electronic business development through electronic services. This facilitates the integrated analysis of the context of electronic business, thus providing innovative and value-creating insights for Montenegro – a transition country. This research was conducted using a survey on a stratified random sample and the data was subsequently analyzed using the Structural Equation Model (SEM), Analysis of Variance (ANOVA) test, and eta-coefficient. Multivariate analysis was applied to data obtained from 172 companies. The results showed that a number of factors determine the ways in which companies apply digital marketing and use differing levels of influence, amongst which the period of implementation, the abilities of people in charge for its usage, perception of digital marketing cost-effectiveness, measurability of its effects and sufficiency of traditional marketing have a key role. The period in which digital marketing is used was especially significant and notably affects the choice of digital marketing instruments, the way its performances are measured and the managers’ perception of its cost-effectiveness. Social networks were the most commonly used form of digital marketing in the market under analysis, and Google analytics was the most common way to measure the effects of digital marketing. Furthermore, the results showed that the more a company relies on the use of digital marketing in its business, the more significant its impact on promotion and brand positioning.

Partnering Up: Including Managers as Research Partners in Systematic Reviews

Article

Oct 2020

Systematic reviews of academic research have not impacted management practice as much as many researchers had hoped. Part of the reason is that researchers and managers differ so significantly in their knowledge systems—in both what they know and how they know it. Researchers can overcome some of these challenges by including managers as knowledge partners in the research endeavor; however, doing so is rife with challenges. This article seeks to answer, how can researchers and managers navigate the tensions related to differences in their knowledge systems to create more impactful systematic reviews? To answer this question, we embarked on a data-guided journey of the experience of the Network for Business Sustainability, which had undertaken 15 systematic reviews that involved researchers and managers. We interviewed previous participants of the projects, observed different systematic review processes, and collected archival data to learn more about researcher-manager collaborations in the systematic review process. This article offers guidance to researchers in imbricating academic with practical knowledge in the systematic review process.

Sustainability, FinTech and Financial Inclusion

Article

Mar 2020

We argue financial technology (FinTech) is the key driver for financial inclusion, which in turn underlies sustainable balanced development, as embodied in the UN Sustainable Development Goals (SDGs). The full potential of FinTech to support the SDGs may be realized with a progressive approach to the development of underlying infrastructure to support digital financial transformation. Our research suggests that the best way to think about such a strategy is to focus on four primary pillars. The first pillar requires the building of digital identity, simplified account opening and e-KYC systems, supported by the second pillar of open interoperable electronic payments systems. The third pillar involves using the infrastructure of the first and second pillars to underpin electronic provision of government services and payments. The fourth pillar—design of digital financial markets and systems—supports broader access to finance and investment. Implementing the four pillars is a major journey for any economy, but one which has tremendous potential to transform not only finance but economies and societies, through FinTech, financial inclusion and sustainable balanced development.

The digital transformation of corporate reporting – a systematic literature review and avenues for future research

Article

Sep 2020

Purpose This paper aims to provide a systematic literature review (SLR) of the relationship between smart and digital technologies and organisations’ reporting processes, proposing a future research agenda. The paper examines the effects of data and digital technology on the corporate reporting process by analysing the various kinds of reports by organisations. Design/methodology/approach A two-decade assessment of studies was analysed to answer research questions. A SLR explored the role of digital and smart technologies for corporate reporting processes. The Scopus database was used as a leading source for access to the articles. Initially, 163 items were collected. After reading the abstract and several refinements, 43 prioritised publications were analysed and categorised to derive significant results. Findings Results of the analysis highlight the following emerging research streams about the digital transformation of corporate reporting: digital technology for corporate information management and decision-making processes; digital technologies as a tool of stakeholder engagement and sustainable reporting practices; and finally, digital technologies as a way to address earning management, corporate social responsibility, accountability and transparency. Research limitations/implications How digital technology and data analytics may potentially transform the corporate reporting process to make it more effective, resulting in greater transparency for shareholders and all stakeholders. Originality/value The originality of this paper derives from connecting, for the first time, smart and digital technologies and corporate reporting processes, drafting the state of the art of this research topic for future research.

Exploring the relationship between audit and technology. A bibliometric analysis

Article

Oct 2020

Purpose The purpose of this study is to map the conceptual structure of the body of knowledge linking digital technologies and auditing, with the aim of contributing to a better understanding of this research stream. Design/methodology/approach This research develops a bibliometric analysis of 256 articles following two steps. The analysis of descriptive performance indicators identifies the main traits of the community of scholars debating audit and technology in terms of publications, productive countries and authors, as well as the publication’s impact of the target journals concerning specific fields, number of citations per country and most cited articles in the data set. To analyse the conceptual structure of the data set, the study performs a co-word analysis adopting social network analysis tools. Findings The results highlight a growing academic interest in the research topic, especially in the past few years. The bibliometric analysis reveals three main topics concerning the use and application of technology in the audit profession: the adoption of continuous auditing and continuous monitoring in the auditing profession; the use of software tools in the audit profession; the connections between information systems and audit. Originality/value This paper contributes to the field by providing an examination of the current state of the art of research on the use and application of technology in the audit profession as well as identifying the current gaps in the literature and, most importantly, propose a research agenda for the field

Assessing the impacts of digital transformation on internal auditing: A bibliometric analysis

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