ABSTRACT
Although they differ significantly and have important interrelationships, the terms information technology (IT), information systems (IS), and digital technology are often used interchangeably as umbrella terms for computer / software-related products and solutions. This can result in misunderstandings, trivialization of the importance of one or both terms, and feelings of overwhelm for some stakeholders outside of the IT / IS profession when it comes to use of the term or of related terms. It is this type of misunderstanding of slippery and overlapping IT / IS-related terms that leads to some accountants underestimating or only seeing a part of the importance and value of digital technologies and digital business concepts for business management and accounting practice. This misunderstanding can lead them to also misunderstand their role in IS and digital technology issues; and to see such issues as ones that can be relegated to the IT / IS function. This misunderstanding, and resultant attitudes and actions, can be a risk to accountants’ careers, and even to the fates of their organizations (e.g. if it results in businesses underestimating key business risks or threats). In this chapter we unpack these terms, delineate the boundaries between them, explain how they interrelate and interact, and explain their significance. We finish the chapter by explaining the important and growing role of accountants in information systems and digital technology-related issues.
