Evaluation of the influence of data science on financial reporting quality: descriptive evidence from Nigeria

Technology advances have made it much easier to amass data in huge quantities. Capitalizing on this data helps create value and growth, which is why organizations invest in people and technological capabilities to extract greater value from data. This study evaluates the influence of data science on financial reporting quality, descriptive evidence from Nigeria. Data visualization, big data analytics, cloud accounting and blockchain were used to proxy data science. Survey research design was adopted through a well-structured questionnaire, cluster random sampling was used. Frequencies and percentages were used for the descriptive analysis while multiple regression analysis was adopted for the test of hypotheses. Findings show that data visualization has a positive and significant effect with p value (0.049) and coefficient of 0.187; blockchain has positive and significant effect on financial reporting quality with p value (0.000) and coefficient of 0.389; Big data analytics shows a positive and statistically insignificant effect on financial reporting quality with p value (0.095) and coefficient of 0.095 while cloud accounting has negative and statistically insignificant effect on financial reporting quality with p value (0.074) and coefficient of 0.095. The study concludes that data science has contributed to the field of accounting and quality financial reporting This study therefore recommends the inclusion of graphs, tables and pictures suitable of enhance understanding and be better informed for an improved decision making. Accountants, auditors and all preparers of financial report should as a matter of policy be exposed to the knowledge of data science and such curriculum should be added to all financial reporting-related fields in our institutions. Government and organizations involve in Accounting, Finance, and Investment decisions should provide data science-enabling environment and invest in data science infrastructure. Cloud accounting users should be enlightened on its safety, security and usage.