Examining the preparedness of Kenya professional accountants to technological unemployment in Kenya
Despite the high risk of the accounting profession to technological displacement, there has been limited policy and academic examination in Kenya. This study sought to examine the preparedness of Professional Accountants towards Technology Unemployment in Kenya. The research specifically sought to establish the effect of professional capacity, training, and education as well as the regulatory environment towards technology unemployment among Kenyan accountants. This study is anchored on the Keynes Theory of unemployment. The study adopted a positivism research philosophy with descriptive research guiding the examination of the research problem. The population of the study was drawn from the 22,000 registered accountants in Kenya. The final study sample was composed of 360 respondents drawn from Kenyan accountants. The study relied on a mixed research approach with structured questionnaires and interview schedules being considered in the data collection process. The collected research data were analyzed using both content analysis and quantitative analysis. The quantitative analysis relied on descriptive and inferential statistics. The analyzed data were presented using charts, tables, and bar graphs. The study was able to obtain a 94% response rate. The study conducted an exploratory factor analysis and the study variables met the sampling adequacy for factor analysis. The findings indicated there is a positive correlation between professional capacity, initial professional development, and the role of regulatory bodies on the preparedness for technology unemployment. The study concludes that improving academic and professional skills will be critical to the preparedness for technology unemployment among accountants. The study also concludes that initial professional development has a positive and significant effect on preparedness for technology unemployment. On the contrary, the research found that the role of regulatory bodies does not have a significant influence on preparedness for technology unemployment. The research recommends that there is a need for better curriculum development and the creation of awareness on the threat of technological unemployment within the accounting profession. The study further recommends that accountants should focus on improving their accounting skills, computer literacy and acquire training on emerging technologies to cushion from technological unemployment.