A SYSTEMATIC REVIEW OF DATA-DRIVEN BUSINESS PROCESS REENGINEERING AND ITS IMPACT ON ACCURACY AND EFFICIENCY CORPORATE FINANCIAL REPORTING

Abstract

This systematic review investigates the transformative impact of data-driven business process reengineering (BPR) on the accuracy and efficiency of corporate financial reporting by synthesizing findings from 68 peer-reviewed empirical studies published between 2005 and 2024. The study examines how digital technologies, automation, analytics, and process optimization methodologies reshape financial reporting processes and outcomes across diverse organizational and regulatory contexts. Results from the meta-analysis reveal that data-driven BPR significantly enhances reporting performance, with pooled effect sizes indicating substantial improvements in reporting accuracy (Hedges’ g ≈ 0.58) and efficiency (Hedges’ g ≈ 0.64). Improvements in accuracy manifest in higher accruals quality, reduced restatement frequency, fewer audit adjustments, and stronger internal controls, while efficiency gains are observed through shorter close-to-disclose cycles, increased automation ratios, higher throughput, and reduced rework. The analysis highlights the differential contributions of various interventions, including enterprise resource planning (ERP) systems, robotic process automation (RPA), process mining, and continuous auditing, and demonstrates that the effectiveness of these interventions is strongly influenced by contextual factors such as data governance maturity, regulatory enforcement strength, technological integration depth, and industry-specific characteristics. Organizations operating in highly regulated environments and those with mature governance frameworks achieved the most pronounced performance gains, with financial services and technology sectors exhibiting the largest improvements. The review further identifies automation depth and real-time data utilization as critical drivers of both accuracy and efficiency, underscoring the strategic importance of integrating advanced technologies into financial reporting workflows. By consolidating evidence from a broad range of studies, this research contributes to a more comprehensive understanding of the mechanisms through which data-driven BPR enhances financial reporting performance and offers valuable insights for practitioners, policymakers, and researchers seeking to optimize reporting systems in the era of digital transformation.