A comprehensive empirical analysis of the digital transformation of accounting and auditing systems in the construction industry

Abstract

Target of the article is to conduct a comprehensive assessment of the empirical state of digital transformation in accounting and audit systems, and to identify key patterns of their development, based on the study of financial and accounting indicators of large enterprises in the domestic and global construction sectors. Methods – the study employed vertical and horizontal analyses of financial statements, as well as the cross-comparative analysis method. Results – an empirical analysis of the digital level of accounting was conducted based on the officially audited financial statements of construction industry flagships. The functional features of the companies› technological architecture (ERP, BIM, Big Data) were systematized, and their impact on transactional efficiency (Real-time audit) and the structure of intangible assets was evaluated. The issues of platform asymmetry and low capitalization level of digital products in domestic practice were identified. Conclusions – the authors proposed a three-level evolutionary-architectural model of accounting digitalization for construction entities. The strategic importance of deeper integration of accounting and audit systems with Artificial Intelligence (AI) and blockchain smart contracts, as well as the formation of a unified sector-specific cloud accounting ecosystem to optimize business processes, was substantiated.