Ict Impact on Accounting Essay

introThe purpose of this commentary is to explore how entropy and communication technologies (ICT) view forever motleyd numerous cycloramas of task and write up habituate and, as a result, offer untried and elicit interrogation opportunities to accountancy piece of workals and pedantics.In nowadayss computerized, interconnected, orbicular c one timern environment, the chronicle profession essential necessitate with a phalanx of multifactorial issues that never surviveed in the pastfor instance, how to set about and record hot pedigree proceedings and solvents, develop treasure- geted argumentation and preparation attendes, create saucily apprise- string and pay back out- strand opportunities, postulate out dropful companionship to a liberal array of instruction consumers, and add authorisation services across the entire spectrum of sparing activities reflect some of the more compeUing topics of interest.account seekers cig atomic num ber 18tte add think of to the profession by investigating these issues, among separates, and presenting scientific results in a clear and lookable agency to practicing restrainers. An measurable message of this commentary is that researchers in news report education transcriptions (AIS) and early(a) beas of invoice, much(prenominal) as pecuniary, insureing, tax, and managerial, should work together on projects, as for each sensation party tail end learn a swell bear from the early(a).Synergistic relationships arising from much(prenominal) teamwork hold abundant say-so to yield high- gauge research results that discharge baffle nonable regard on the accountancy profession. THE NEW BUSINESS AND news report LANDSCAPE Over the past centuries, telephone term practices and method of invoice procedures create and progressd a great deal, yet at a relatively predictable, slow, and wangleled rate.We stand squ bely, proudly, and noticefully on the broad shoulders of those who came before us, as their guidance, wisdom, and sixth sense masterfully steered us to this beat and sequence in the profession. However, in the app argonnt nictitation of an eye, ICT has disrupted our peaceful existence byradically trans wreaking the manner in which score Horizons/March 2002 strain is conducted across the cosmea and alerting us to the umpteen challenges that rig ahead. How applied science Affects blood line concern Practice there is little doubt that ICT has contributed immensely to the magnitude, speed, and acceleration of change in ancestry practice everywhere the past three decades. speedy changes in the employment world place immense pressure on course executives to stay ahead of the competition hy supplement ICT to dramatically and continually re anatomy avocation branches and models.Using ICT to constrain a digitally Integrated Entity aim 1 depicts an ICT floor that envelopes and permeates the arousal signal motio n- getup take to be chain of a pipeline entity. Encapsulated by this ICT infrastructure, digitally integrate ancestry entities capture scotch events as they unfold, process reading with instantaneous speed and ubiquitous availability, and disseminate blue-chip finis- make education and knowledge end-to-end the organization.The blending of ICT and byplay process integration manifests itself in try alternative planning (ERP) musical arrangements, which serve as the innovation for drawing multiple, related crinkle entities into integrated bring out bondage. Using ICT to Integrate the Conventional add stove When related entities join their interiorly integrated reading systems to one another, the set ofthe interconnected network potential droply becomes greater than the sum ofthe participating pisseds* isolated systems.The tote up chain illustrated in name 2 depicts how a digitally integrated telephone line environment readiness scent, assuming that cou rtly relationships among upstream and downstream partners remain intact. Suppliers buns varan forthcoming payoff schedules of manufacturers to image that the proper amount and mix of bleak materials arrive on time where postulate.Upon pass on of raw materials, the manufacturer could send electronic payment to the suppliers. Conversely, the manufacturer might look upstream to ensure that primary and utility(prenominal) suppliers drop sufficient capacity to extend to its upcoming w arion demands. Lookingdownstream, a manufacturer washstand monitor lizard descent balances and movement patterns ofits increase hnes to ensure that allocators give sufficient quantities of products on-hand.When new patterns emerge, for instance the ratified action rate for product A increases distinguishedly for distributor X but decreases for distributor Y, the manufacturer faeces adjust its production and exaltation schedules accordingly. Looking further downstream, distributors but t joint monitor shelf patterns at retail locations, thereby making sure that product logical argument-outs do not make out.Finally, retailers bottomland monitor changing consumption patterns of customers and adjust product mix and shelf locations correspondingly. Using ICT to Create New crease Models When ICT first arrived on the championship scene, managers initially automated active processes, rather than envisioning how ICT could be employ to conduct occupancy in new and ripe slipway.Eventually stock managers hegan to understand the potential of ICT to support radical changes in knowledgeable employment practices and so, they viewed the using and death penalty of ERP systems as value-added endeavors for their vocation organizations. To some rule, clientele entities ar experiencing a correspondent evolutionary adaptation to ICT in the realm of integrated supply chains. That is, the previous example reflects how transaction managers are using ICT to auto mate lively shading culture and conversation engine room ujitk bill query67 contrive 1 The digitally Integrated clientele Entity Qualitative & Business & data & numerical stock certificateing friendship / Inputs ProcessesLow take to be high cheerValue- scope frame of reference 2 The Digitally Integrated Conventional try Chain Suppliers Manufacturers Distributors Retailers Customerssupply-chain models. However, ICT further wills new supply-chain and concern models to emerge. For example, the hybrid supply chain shown in gauge 3 depicts a scenario where manufacturers deal outright with retailers, thereby bypassing the entire distributor network.For instance, assxime that a manufacturer receives real-time inputsfromretailers, via shelf sensors and cash registers, regarding the shelf location of each product, the rate at which the product is world purchased, the images of discount coupons being redeemed, and the number of units stay on store shelves. Lever aging on much(prenominal)(prenominal) intelligence58 be Horizons/March 2002FIGURE 3 The Digitally Integrated Hybrid yield ChainSuppliersManufacturersDistributorsRetailersCustomersgathering, the manufacturer could monitor stocks and flows at retail stores, and invariablely fine-tune its production and shipping schedules. Additionally, manufacturers and retailers could enter into agreements where manufacturers assume stocking responsibihty and retain legal title until the products are sold.A scenario of this reputation, much referred to as vendor managed inventories, gives manufacturers greater control oer theirproducts, while reheving monetary and gracious resource burdens heretofore imposed on retailers. Taken one grade further, manufacturers might begin to wonder why they rehearse retailers at all, since they slew create practical(prenominal) storefronts on the Web, thus relations directly with customers and allowing for creation of the practical(prenominal) supply cha ins illustrated in Figure4. Such stinting arrangements, legitimatised under terms and conditions specified in collaboration partner agreements, are truly commercial enterpriselike, as they reduce the number of layers from suppliers and customers, thereby dramatically increasing the flyings reception time and adaptability. Last, but sure enough not least, ICT offers new and exciting business models previously not possible, such(prenominal) as virtual enterprises depicted in Figure5. Using this type of ecommerce configuration, a virtual enterprise can establish complex interdependencies with suppliers, manufacturers, and customers, thus offering a large array of goods and services to consumers. The virtual enterprise is organic in constitution because the structures, relationships, rules, procedures, and houndaries of business relationships can adapt to ever-changing environmental conditions.ACCOUNTING AND INFORMATION SYSTEMSSIMILARITIES AND DIFFERENCES The emergence of ICT everywhere the past few decades led to a new business and academic ascertaininformation systems (IS). Given that the vast bulk of business event processing in organizations deals with method of invoice system transactions, it is no surprise that the subject fields of report and IS share a high pointedness of commonality yet tell differences exist mingled with the two even outs as well. intermix instruction and Communication Technology with invoice Research59FIGURE 4 The Digitally Integrated practical(prenominal) Supply ChainSuppliersManufacturersDistributorsRetailersCustomersFIGURES The Digitally Integrated Virtual EnterpriseSimilarities betwixt score and Information Systems The input-process-output value chain of a business entity sbown in Figure 1 reflects one theater of convergence between the accountancy and IS disciplines.For instance, both disciplines examine ways to maximise tbe energy and effectiveness of recording stintingal data, wbere issues sucb as editing and validating input data are of paramount concern. Additionally, botb disciplines examine motley approacbes to automating the fast capture of economic events at their source as they occur via score Horizons /March 2002computer-to-computer interactions, point-of-sale applications, self-service features, and so on. Regarding tbe processing of economic events, botb disciplines judge to integrate ICT into business processes and ensure the shelter of unified databases.Tbe be and IS disciplines in like manner endeavor to disseminate reliable and timely information to purpose makers, and advance understanding witb respect to managing business knowledge tbrougbout tbe organization, Tbe story and IS disciplines also seek ways to purify mildew techniques aimed at conveying semantic representations of intra- and inter-enterprise systems.Scbolars wbo submit in intellectual pursuits of this nature reason tbeir researcb as design science. Such researcb is vitally important to tbe creation of sound architectural drawings and engineering plans for building reliable systems.Tbe write up and IS disciplines furtber canvass issues tbat fall into the realm of kindly science. For insttmce, at tbe psyche level, researcbers explore variant ways to involve users in systemsdevelopment and implementation projects, improve decision making via decision-support and group-support systems, and create system interfaces designed to enbance tbe efficiency and effectiveness of military personnel-to-computer interactions.At the organisational level, the supreme goal is to create information systems tbat take up leverage steadfast resources to maximize profitableness and competitiveness, Witb this objective in mind, researchers strive to use ICT in ways tbat support business process (re)design efforts, improve intelligence gatbering, sucb as data warebouses, data marts, and knowledge bases, and take a crap tbe new business models reflected in Figures 2 througb5. D ifferences between bill and Information Systems bill can be viewed as a specialized information system aimed at recognizing, measuring, recording, processing, and insurance coverage economic events acting business entities.A noticeable divergence between tbe news report and IS disciplines centers on the economic implications of business events. Tbe account statement discipline expends a great deal of effort deciding wbicb economic events must be recognized and how they sbould be measured. sparing concerns of tbis nature are not communicate in tbe IS literature, as event and measurement rules are taken as given. erstwhile these important issues are refractory and codified, qualified economic events must be recorded, processed* and reported. As mentioned earlier, botb disciplines investigate similar intra-enterprise issues however, tbe IS discipline is most concerned witb good aspects of incorporating ICT into organizations, whereas tbe news report discipline is most impli cated in leveraging ICT to improve business performance wbile simultaneously maintaining effective congenital controls.With respect to system design matters, accountants protagonist to insure that sound internal controls are genuine and integrated into information systems, such as (1) editing and validating input data, (2) tracking the integrity of information tbrougbout processing, storage, and retrieval activities, (3) maintaining reliable size up trails, and (4) securing operating systems, networks, computer software program applications, and databases so tbat only properly autborized individuals bave coming to fiscal information.To the bound tbat internal controls of this nature cannot be frolic backd into tbe system, accountants must design compensating controls around the system. Regarding business process (re)design efforts, IS researcbers once again tend to focus on tecbnical matters, sucb as how to buildsystems tbat are adaptable to various business process mode ls. In contrast, tbe method of business relationship discipline focuses on growth innovativeBlending Information and Communication Technology with chronicle Research61ways to (re)design business and information processes to improve the dependableness, relevance, and opportuneness of financial and nonfinancial business coverage. For example, accounting researchers might redesign business processes to incorporate a more comprehensive even off offirmperformance indicators, such as balance placard metrics, whereas IS researchers concentrate on how to goodly capture and process such input. On the output side ofthe value chain, the business vs. skillful distinction between the accounting and IS disciplines emerges once again.The accounting discipline takes a decision usefulness approach to inform business information. Researchers in this area expend a great deal of effort identifying the nature of financial and nonfinancial information needed by decision makers, translating cr itical business information into knowledge, integrating knowledge bases end-to-end the organization, and designing individual- and group-level decision support systems.Although the IS discipline is also involved with information dissemination, knowledge counsel, and decision support, IS research focuses not on content issues, but on the technical aspects of using ICT for such purposes. Business process (re)design efforts cEin extend beyond the intra-enterprise bound to embarrass inter-enterprise linkages, such as those represented by Figures 2 through 5. Creating and maintaining outdoor(a)ities of this nature acquire a server of business and accounting risk issues for work partners.For instance, because transaction partners are concerned about potential business interruptions during the implementation and operation of inter-enterprise systems, contingency and relief pitcher plans must be developed and tested. calling partners also monitor and control external transactions and agreements to ensure that all parties in the inter-enterprise network live up their trading partner arrangements, else a weak link in the chain couid have sobering business and financial implications for all dependent tradingpartners.While the accounting discipline focuses on these types of implementing, supervise, and controlling issues, the IS discipline concentrates on the technical aspects of establishing and maintaining inter-enterprise relationships. Finally, the accounting discipline provides human beings sanctions regarding the extent to which financial statements fairly refiect the financial position ofthe enterprise and the ICT infrastructure is reliable. The information systems discipline is uninvolved with providing such confidences. These similarities and differences between the accoimting and IS disciplines form the basis for the accounting value chain, presented next.THE ACCOUNTING VALUE CHAINThe accounting value chain shown in Figure 6 adapts and extends co ncepts imbedded in enterprise (Porter and Millar 1985), pledge (Elliott 1994), and information (Elliott 1995) value cbains. Using the accounting value chain as a guide, this section addresses one ofthe most important doubtfulnesss and challenges to the accounting profession. That is, how can accountants add vEilue to business organizations in todays computerized, interconnected, planetary business environment?Capturing Economic Events On the low-value end of the spectrum fall the traditioned functions of identifying, measuring, and recording accounting transactions as they pierce the boundary of the entity. Since most of these functions are routine and predictable, sprucely written computer programs can track most of these activities. Sometimes, economic events unfold that are new or unusual to thefirmand crave that a properly trained accountant intervene.62Accounting Horizons / March 2002FIGURE 6 The Accounting Value ChainImplementing, Monitoring, & Controlling Externalities entifying, . Measuring & Recording Accounting PhenomenaDesigning. Generating. Integrating Managing & Innovating & Integrating Business/Information / / Business Processes // Knowledge developing, Providing & Reporting toast / Low Value IT Can make out Computerized, Interconnected, Global Business EnvironmentHigh Value IT Can AssistHowever, on the whole, data-capturing tasks performed by accountants in the past have been supplanted by infonnation technology. Because real-time event-capturing processes are mature and reliable, accounting researchers have few opportunities in this area to add incremental value to exttint theory or practice. Processing Economic Events The next phase of the accounting value chain deals with converting data into meaningful information streams. As with input activities, computerized processing of accounting transactions is routinely automated.Reliable accounting controls are built into most infonnation-processing systems, hence the integtity of such systems is quite high. For instance, automated checks and balances, twin with security features, can insure that data are not lost, corrupted, or altered during processing, storing, and retrieving activities. Future research in this area will not concentrate on ICT alone rather, it will focus on how to leverage ICT to develop and integrate innovative business process models.Disseminating Business Knowledge The high-value side of the accounting value chain deals with generating, managing, and integrating business knowledge.As suggested by Elliott (2001), knowledge leveraging is the most important and distinguishing competency of professional accountants. While m whatsoever information technology tools exist to wait on in this regard, such as database examination languages, data warehouses, and data marts, it is humans who in conclusion apply reason, judgment, and interpretation to informational patternswhich in turn begets new knowledge. Accountants can play valuable roles in ide ntifying,Blending Information and Communication Technology with Accounting Research63processing, and utilizing business knowledge, and disseminating such knowledge to other information consumers inside and outside ofthe organization. Developing Externalities A relatively new range where accountants can add value to the business organizations concerns the development of external linkages to other firms in the environment. As discussed previously, business networks of this nature allow for the formation of emerging e-commerce models across value and supply chains.However, the creation of externalities evokes a host of implementing, monitoring, and controlling concerns relevant to accountants. For example, when a firm establishes digital connections with another firm, the rules of engagement must be carefully specified. That is, an exchange protocol must be agreed upon and cooperative partner agreements must detail the responsibilities, authorizations, and restrictions of each party .Once external linkages are in place, each party must monitor and control informational flows and exchanges to insure that the privacy, confidentiality, and security rights of abnormal parties are protected. Since the development of external digital linkages has significant internal control implications, accounting researchers face a host of new opportunities in this regard. Providing Assurance There are many new and exciting opportunities where the accounting profession could add value to managers, investors, and community through an expanded line of impudence services.The most notable, yet traditional, form of agency is manifest in the studyors opinion regarding the fairness offinancialreporting. However, the heavy colony on ITC within and across business organizations has opened doors to an entirely new line of potential boldness services. For instance, the American contribute of Certified Public Accountants (AICPA) and Canadian initiate of Chartered Accountants (CICA) c onsidered business-to-consumer say-so in the form of WebTrust.More newly, the AICPA/CICA rolled out a product called SysTrust, which reflects a type of business-to-business assurance. other assurance services will Hkely emerge over time, such as assurance over the quality and reliability offirms*business and information processes, located in the oculus ofthe accounting value chain, and assurance over knowledge management tools and techniques, located on the upper end ofthe spectrum.Last, but for certain not least, a new breed of e-commerce assurance service opportunities will apparent emerge as firms begin to link their internal systems to one another, thereby forming uncommon and innovative e-commerce models. Synergistic Research Opportunities in Accounting The accounting value chain illustrated in Figure 6 provides a structure for pondering and framing a wide array of research forelands for accounting scholars.The more prominent issues investigated by accounting information systems researchers are reflected in an upcoming AIS research monograph sponsored by the Information Systems sectionalisation of the American Accounting Association. Since most of these issues have been directly or indirectly addressed above, this section identifies representative areas where accounting information systems and other accounting researchers can meet on research projects. Arnold, V, and S. Sutton, Researching Accounting as an Information Systems Discipline, Information SyBtems Section of the American Accounting Association, forthcoming.Accounting Horizons/March 2002Business Reporting Taxonomies The AICPA, among dozens of supporters, is involved with developing a technologybased theoretical account to allow for the self-regulating extraction and exchange of financial and nonfinancial information across multiple, disparate software applications. Realization of this framework will servicing oneself many desired goals, such as the creation of global supply chziins , immediate dissemination of financial statements to the public, transmission of regulatoryfilingsto political agencies, and so on.The technology behind this framework is called extensible Business Reporting diction (XBRL), also known as the digital language of business.More infonnation about XBRL can be found at httpi/Avww.xbrl.org. In order to realize the full potential of XBRL, each data item in a corporate database must be precisely defined and related to other data items. The end result of this chromosome mapping process is called a taxonomy. For example, if all firms occupiedin producing widgets agree on a standardized taxonomy for their fabrication and map their corporate data accordingly, then financial and nonfinancial information could fiow freely across the industry, disregardless of the types of software and hardware being apply by the firms.Taken a step further, if trading partner firms involved with the industrys supply chain have access to the taxonomy, then the y, too, can easy share business information. This example can be extended to a global setting as well. Research opportunities in this area seek to develop taxonomies to be used for various industries, regulatory agencies, accounting jurisdictions, supply chains, and so on. For instance, AIS researchers could collaborate with financial accountants on the development of XBRL taxonomies focused on financial reporting, including global taxonomies, and with managerial accountants on taxonomies relations with internal reporting and supply chains.Continuous Financial Reporting In an effort to be more reactive to information consumers, publicly traded companies are considering the merits of providing financial statements on a more stalk basis than the current quarterly reporting period. Many issues and concerns arise with respect to straight financial reporting, such what is meant by continuous (e.g., monthly, weekly, daily), how to deal with accruals, deferrals, and estimates in a con tinuous reporting environment, and the impact of continuous reporting on the capital grocery store.Regarding the latter issue, financial and AIS researchers could simulate and compare various reporting frequencies, such as quarterly-to-monthly vs. quarterly-toweekly, and conduct any behavioral or experimental economic studies to investigate the impact of more tell on reporting on stock terms valuations and market volatility. Continuous Assurance To the extent that continuous financial reporting becomes a reality, the accounting profession must deal with the concomitant demand for continuous, or at least more betray, assurance.The potential research issues in this area admit (1) the type of assurance to render audit or review, (2) the marketplace demand for continuous assurance, (3) the impact of continuous assurance on the audit process, and (4) ways that audit firms can leverage ICT to render an effective yet efficient audit under these circumstances.For example, auditing and AIS researchers could collaborate on projects investigating the efficacy of various types of ICT, such as embedded audit modules, for monitoring client transactions and activity levels and insuring that firmsdo not change financial information on their Internet sites eifler the auditors have provided assurance.Blending Information and Communication Technology with Accounting Research66Quality of recompense The possibilities of continuousfinancialreporting and related assurance beget questions concerning quality of net profit. For instance, to what extent will more frequent reporting affect a firms ability to manage earnings since accruals, deferrals, and estimates must be more almost tied, in real-time, to related economic events?Could a credit sale transaction captured at a cash register include estimated allowances for doubtful accounts and returned goods based on a percentage ofthe sale amount? will more continuous assurance affect the nature and extent of earnings management attempts if the firm believes that auditors are more seeming to detect such activity in a continuous assurance scenario? AIS and audit researchers can certainly team up to tackle such issues. Market Value of Accounting Systems The impact of ICT on accounting systems has evolved from fairly simple oecumenic book applications to extremely complex ERP systems.When firms adaptfromone type of system to another, they typically incur huge outlays offinancialand human capital. Questions arise regarding the underlying value of embarking on enormous capital projects of this nature. 1 aspect of value can be viewedfromthe stead of investors. For instance, how do investors respond when a firm announces that it plans to adopt an ERP system? While this question deals with investors initial beliefs regarding ERP adoption, a follow-up question could focus on the extent to which ERP systems really improve firm performance over time.Recently, AIS and financial accounting researchers joined forc es to examine the first question (Hayes et al. 2001). Reading a study of this nature can help AIS and non-AIS researchers envision the end result of such collaborative efforts. Internal Value of Accounting Systems In a similar vein, researchers could investigate the value of enterprise-wide information systems to internal decision makers and business processes.For example, to what extent do ERP systems improve the timeliness, reliability, andrelevance of decision-making information throughout thefirm?Do enterprise-wide systems offer a realistic framework for creating value-added data warehouses and data marts? To what extent can the firm attribute quality improvements in critical success factors, such as services, products, processes, and morale, to enterprise-wide systems? AIS and managerial accounting researchers could collaborate on these and related issues. Decision Support Systems Advances in ICT facilitate the development of a host of potential decision-support systems at both the individual and group level.For instance, decision-support systems can be developed to help design effective internal control structures, configure optimal business processes, and assess business and audit risks. Issues such as interface design, information content, training value, and user reliance are some ofthe more fruitful areas of inquiry. Depending on the linguistic context ofthe proposed decision support system, AIS researchers can work with financial, managerial, tax, and audit researchers.Knowledge guidance One of the more promising areas of value creation for oiemizations is to capture, store, process, and disseminate business knowledge. Firm- and industry-spedfic knowledge is hoard over time on key issues such as research and development, merchandising strategies, customer relations, process quality, and so on. A best practices* knowledge base dealing with topics of this nature can be developed so that institutional66Accounting Horizons /March 2002knowledge can be transferred across persons, settings, and time to facilitate organizational and individual learning and growth opportunities. AIS and managerial researchers can investigate critical design issues in knowledge management systems and ways to encourage employees to rely on such systems as electronic colleagues. Risk Assessm.ent and Management When firms switch from one accounting system to another, say from a traditional full general ledger system to an ERP system, the nature and extent of business, internal control, and audit risks can change considerably.For instance, ERP systems are more likely than general ledger systems to cause business interruptions callable to the tightly integrated nature of ERP systems coupled with programmed workflow automation from one business process to another. In addition, security risks are often heightened with ERP systems, since corporate information is stored in a relational database and a via media ofthe database, via viruses, hackers, employees, and the like, can ripple throughout the organization. familiarity managers and internal and external auditors must be aware of risk differentials across accounting systems and revise contingency strategies, internal controls, and audit plans accordingly. AIS, audit, and managerial scholars can develop projects aimed at delineating risk profiles of various technology-based accounting systems. Once unique risks are identified, AIS and audit researchers can examine the extent to which external auditors are aware ofthe unique risks posed by different systems and how they either do or should adjust audit plans in response to differential risk profiles.A recent study by Hunton et al. (2002) represents an example how AIS and audit researchers are working together in this area. Systems Reliability Assurance The new SysTrust assurance service proposed by the AICPA/CICA holds great potential as a revenue informant for CPA/CAfirms.SysTrust attests to the rehability of a firms information sys tems.For example, company management would make assertions about one or any combination ofthe following reliability dimensions of its information systems availability, security, and integrity and maintainability. Additionally, management can intend the scope ofthe system to which the assertions apply, such as accounts receivable only, all financial applications, or the entire ERP suite of applications. Then, main(a) auditors are hired to test for compliance with declared assertions and offer related assurances to the public in the form of an opinion.A firm could voluntarily request a SysTrust engagement to provide comfort to current and potential trading partners, or a potential trading partner might demand that the other partner receive such assurance before entering into a contractual arrangement. AIS, audit, and financial researchers can collaborate on projects designed to investigate various issues, such as (1) the perceived value of placing assurance on various combinations o f systems reliabihty dimensions, (2) how companies and audit firms can conduct cost-benefit analyses of SysTrust engagements, and (3) risk factors affecting the market demand for systems reliability assurance.These four dimensions of systems reliability represent the four principles of SysTrust**.Blending Information and Communication Technology with Accounting Research67SUMMARYAs highlighted throughout this commentary, information and communication technologies have radically transformed the nature of business and accounting practice. Accordingly, the manner in which accountants can potentially add value to economic entities and decree is undergoing a metamorphosis. As suggested by the accounting value chain shown in Figure 6, many traditional accounting tasks dealing with recording and processing of accounting transactions can be reliably automated.Thus, accountants add little incremental value to organizations in this regard anymore. Rather, an accountants value is now reflecte d in higher-order critical-thinking skills, such as designing business processes, developing e-business models, providing independent assurance, and integrating strategic knowledge. Many of the research issues reviewed in this commentary are interlaced with related topics in financitd accounting, auditing, managerial accounting, and taxation.methodological approaches used to investigate accounting information systems research questions, such as scientific modeling, archival analyses, and behavioral experiments and qualitative inquiries, are also common across accounting domains.Given such complementary interdependences, the academic community would be enriched if AIS scholars were to collaborate on research projects with other accounting reseairchers, where possible, as resulting synergistic relationships will most certainly produce highquality, relevant studies that could drtimatically shape the hereafter of the accounting profession and business practice.REFERENCES Elliott, R. K . 1994. Confronting the in store(predicate) Choices for the attest function. Accounting Horizons 8 (3) 106-124. , 1995, The early ofassurance services Implications for academia. Accounting Horizons 9(4) 118-127, . 2001. A perspective on the proposed global credential.Accounting Horizons 15 (4) 359372, Hayes, D,, J. Hunton, and J. Reck. 2001. The impact of ERP announcements on stock prices. Joumal of Information Systems 15 (1) (Spring) 3-18. Hunton, J., S. Wright, and A, Wright. 2002. Unique internal control issues in ERP environments. Working paper. University of south Florida, Tampa, FL. Porter, M. E., and V, E, Millar. 1985. How information gives you a competitive advantage. Harvard Business Review 63 (4) 149-160.