The competencies of a financial accountant in a digital transformation environment and their impact on decision-making

Abstract

The accounting profession has undergone significant transformations due to digital transformation and the adoption of modern digital systems by institutions. This study focuses on the professional competencies of financial accountants in Iraq and analyzes the relationship between technical and analytical competencies and the quality of financial decision-making in the digital environment. The study relied on secondary data published by banks, financial institutions, and regulatory authorities during the period 2019–2023 and utilized statistical tools such as descriptive analysis, correlation, and multiple linear regression to assess the impact of professional competencies on the quality of financial decisions.

The results indicate that both technical and analytical competencies of financial accountants are strongly associated with high-quality financial decision-making, with analytical competencies having the most significant influence. The study also reveals that digital transformation has led to a shift in accounting tasks from traditional execution to strategic analysis, highlighting the importance of developing professional competencies for financial accountants in Iraq. The study provides practical recommendations to enhance these competencies and improve the quality of financial decision-making in Iraqi institutions.