Assessment of Big Data and Efficacy of Accounting Practice in Nigeria


Published: 2023-09-19

Page: 297-312

Olusola Esther Igbekoyi

Department of Accounting, Adekunle Ajasin University, Akungba-Akoko, Ondo State, Nigeria.

Oluwagbemi Emmanuel Oke

Department of Accounting, Afe Babalola University, Ado-Ekiti, Ekiti State, Nigeria.

Niyi Solomon Awotomilusi

Department of Accounting, Afe Babalola University, Ado-Ekiti, Ekiti State, Nigeria.

Muyiwa Emmanuel Dagunduro *

Department of Accounting, Afe Babalola University, Ado-Ekiti, Ekiti State, Nigeria.

*Author to whom correspondence should be addressed.


Globally, with the advent of big data, there is a pressing need to assess its effect on the efficacy of accounting practices in harnessing the potential of this vast amount of data. This study sought to evaluate the effect of big data on the efficacy of accounting practice in Nigeria. This study employed a survey research design by using a well-structured questionnaire to source data. The population for this study comprised all the registered accounting firms (35 firms in total) in Lagos State, Nigeria, and a census sampling technique was used to determine the sample size, which denotes 100% of the population. Six respondents representing each accounting firm were selected due to the relative size of the population, which amounted to 210 respondents, from which 197 responses were returned filled representing 94% of the sample size. The collected data in this study underwent analysis using both descriptive statistics and ordinary least squares (OLS) regression analysis techniques. The results revealed that data validity, data volatility, and data visualization exhibited a significant effect on the efficacy of accounting practices in Nigeria. It was concluded that data visualization emerges as a potent tool for enhancing accounting practice efficacy. This study recommends that accounting practitioners should actively incorporate data visualization techniques into their practices. Visual representation of accounting data can simplify complex information, leading to better insights, informed decision-making, and overall improved efficacy of accounting activities.

Keywords: Big data, data validity, data volatility, data visualization, efficacy of accounting practice

How to Cite

Igbekoyi , O. E., Oke , O. E., Awotomilusi , N. S., & Dagunduro , M. E. (2023). Assessment of Big Data and Efficacy of Accounting Practice in Nigeria. Asian Journal of Economics, Finance and Management, 5(1), 297–312. Retrieved from


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