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DETERMINANTS OF DIGITAL TRANSFORMATION IN ACCOUNTING: EVIDENCE
FROM PRIVATE UNIVERSITIES IN VIETNAM

Hoang Thi Phuong Lan* , Nguyen Thuy Phuong 2
1

1, 2 University of Economics and Technology for Industries, Hanoi, Vietnam.
(*E-mail: htplan@uneti.edu.vn)

ABSTRACT
This study examines the factors influencing digital transformation in accounting within
private universities in Vietnam. Based on a synthesis of theoretical foundations and previous
studies, the research model was developed with six factors, including policy and legal
environment, leadership support, accounting staff competence, financial resources,
information technology infrastructure, and digital organizational digital culture. Data were
collected from 162 valid survey responses obtained from leaders and accounting staff
working at 30 private universities in Vietnam. The research results indicate that all six factors
have positive effects on digital transformation in accounting in private universities. Among
these factors, financial resources have the strongest influence, followed by digital
organisational culture, leadership support, information technology infrastructure, policy and
legal environment, and accounting staff competence. Based on these findings, the study
proposes several managerial implications for promoting the digital transformation of
accounting in private universities in Vietnam.
Keywords: Accounting, digital transformation; Vietnam.

1. Introduction
Digital transformation plays a significant role in the accounting functions of private
universities in Vietnam. The adoption of digital technologies such as accounting software,
digital databases, and financial management platforms helps improve the efficiency of
processing, storing, and utilising accounting information within educational institutions. In
particular, for private universities in Vietnam, digital transformation in accounting not only
contributes to the automation of operational processes but also enhances the accuracy,
transparency, and control of financial activities within universities (Bhimani & Willcocks,
2014). Moreover, the implementation of digitalised accounting systems facilitates data
integration, strengthens managerial capabilities, and promotes the modernisation of
financial management practices in higher education institutions (Vial, 2021).
In the context of increasing emphasis on improving governance quality and
competitive capacity among private universities in Vietnam, promoting digital
transformation in accounting has become particularly important. However, the
implementation of digital transformation is often influenced by various factors, including
information technology infrastructure, the digital competencies of accounting staff,
leadership support, and the institutional environment. Therefore, examining the factors that
influence digital transformation in accounting within private universities in Vietnam is
significant from both theoretical and practical perspectives. Identifying and analysing these
factors will enable private higher education institutions to better understand the
opportunities and challenges associated with digital transformation while also providing a

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