The Role of Digital Transformation of Business Models in Enhancing the Quality of Accounting Information and Corporate Governance in Iraq

Abstract

Digital transformation today plays an important and major role in reshaping the landscape of the contemporary business environment and its development in all parts of the world and in all fields. Therefore, this research aims to shed light on the importance of digital transformation of business models and the extent of its impact on the quality of accounting information and its role in enhancing corporate governance in controlling and managing its operations in Iraq. The issue of digital transformation is one of the important topics that all parties working in Iraq seek to achieve in order to achieve economic and financial reform and try to benefit from the great advantages and facilities provided by modern technologies in solving many of the problems and obstacles of work in the Iraqi business environment.

This research relied on two main hypotheses. The first hypothesis focused on the impact of the digital transformation of business models on the quality of accounting information through its impact on the qualitative characteristics of accounting information. The second hypothesis focused on the extent to which the digital transformation of business models affects enhancing corporate governance in Iraq. An electronic questionnaire was prepared and developed, the data of which was allocated to test the research hypotheses. The answers of a sample of (135) people were collected, including professors, accountants, managers, auditors, administrators, and businessmen working in Iraqi institutions and companies. The research came out with a set of conclusions, the most important of which are: There is an important and significant impact of digital transformation on the quality of accounting information by increasing the significance of most of the qualitative characteristics of accounting information. The research also found the importance of digital transformation of business models in enhancing the role of corporate government in monitoring and managing its various operations. The research presented a set of recommendations, the most important of which is the urgent and necessary need to shift to adopting modern technological technologies and digital transformation in the Iraqi business environment, legislating laws and providing facilities by the government and regulatory authorities to activate this transformation to keep pace with development in the contemporary business world.