Modeling the Challenges and Opportunities of Using Metaverse in Accounting

The emergence of the metaverse in the field of accounting presents various challenges and opportunities. Accordingly, the objective of this study is to model the challenges and opportunities of applying the metaverse in accounting. This is an applied research. Five methodological approaches were employed in this study. The first approach involved a systematic literature review to identify challenges and opportunities. The second approach applied the fuzzy Delphi method to validate the extracted factors. In the third approach, the mean values of challenges and opportunities were compared. The fourth approach involved constructing components of challenges and opportunities. Finally, using a regression-based approach, the influence of the identified indicators on the application of the metaverse in accounting was examined. Through the systematic review, 38 relevant articles were identified. In this phase, 17 challenges and 32 opportunities were extracted. Based on the opinions of 17 experts and using a Type-3 Logistic Fuzzy Delphi approach, the extracted factors were validated. The results of the paired t-test indicated a significant difference between the mean values of the challenges and opportunities. The regression results showed that challenges have a significant negative effect (−0.696), whereas opportunities have a significant positive effect (0.217) on the application of the metaverse in accounting. Challenges were found to have a higher priority compared to opportunities in influencing the adoption of the metaverse in accounting. Therefore, it is recommended that professional bodies involved in the development of auditing and accounting standards provide the necessary groundwork to adapt to these changes by identifying the technologies used by companies and aligning them with national accounting and auditing concepts and requirements.