Abstract
Volume, Velocity, Variety, and Veracity are 4 Vs of Big Data as its striking dimensions which are useful for any organisation only if it can be used to generate the fifth V viz. Value. In modern times Big Data has proved its utility in many areas of business management including accounting and auditing..In this study an attempt is made to discuss the role of Big Data in financial accounting, management accounting and auditing. Financial accounting information using big data can lead to better disclosure which in turn may enhance investor trust. Big Data can play a vital role in refining existing accounting standards and developing the needed ones. In nutshell, Big Data proposing a lot of opportunity in the area of accounting and auditing, thereby challenging accounting profession to develop competencies so as to make it their strength.
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