Cloud Technology-Based Auditing and Accounting Services: General Outlook, Conditions, Issues and Review of Nigerian Accounting System

The purpose of this paper is to identifying the impact of Cloud Computing on the Elements of the Accounting and auditing Information System represented by: Establishment "Accounting Entity and internal controls.", Financial Operations, Documents, Accounting Books, Financial Reporting, Users, Procedures, Software, Physical Devices. Cloud technology-based auditing and accounting is one of the most promising and anticipated technologies in recent years. The technology is not a new concept for most of the sectors and with proper planning could increase operational efficiency. Integration of accounting and auditing informa Change in platform from in-house to cloud solution cannot change the role of the accounting information systems as a base for providing the financial information for decision-making to internal and external users, and therefore auditors will need to assess the risks associated with cloud accounting and they must gain knowledge of the new environment. Cloud technology-based auditing and accounting brought changes to auditing procedures but Security has been always raised as one of the most critical issues of cloud computing where resolving such an issue would result in constant growth in the use and popularity of the cloud. Security requirements represent a major issue that has to be met in order of easing some of these obstacles (Alam, 2020). As the focus is on information governance, IT management, network, data, contingency and encryption controls, auditors should have the appropriate knowledge of these areas and (as cloud technology-based auditing and accounting services depends on web services). Cloud accounting software enables its users a real time access to business finances, easy set up and easy use, access to information from anywhere, work with sales force, to synchronize instantly with bank, make tax returns precise and effortless. Cloud technology-based auditing and accounting offers a short implementation time and