Enhancing financial governance through new technologies: The role of accounting information systems in the implementation of Greek accounting standards

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Abstract

Rapid developments in technological, scientific, and economic levels impose the need for the modernization of Greek companies regarding their accounting information systems (AIS) to ensure robust financial governance. The implementation of the Greek Accounting Standards (GAS) in 2015 brought significant changes in accounting operations (Stamatopoulos et al., 2021) because it introduced an automated accounting system, modernizing the existing accounting standardization framework. These reforms resulted in the quick adaptation of Greek companies to the new provisions, which are critical for enhancing corporate governance by improving transparency and quality of financial reporting (Koufodontis et al., 2021). The purpose of this paper is to examine how the effectiveness of financial governance mechanisms — specifically the implementation of GAS — depends on the degree of use of new technologies, while also evaluating the role of the state in this transition. A quantitative research design was employed using a survey of 93 accountants and financial executives. Data were analyzed using Pearson correlation to test the relationship between the variables. The results of the research showed that there is a significant correlation between the successful application of GAS and digital maturity, suggesting that technology is a prerequisite for effective financial governance. These insights are relevant for policymakers and practitioners aiming towards corporate transparency and reporting quality in the digital era.

Keywords: Accounting Information Systems, Accounting Standardization, Greek Accounting Standards, New Technologies, Financial Governance

Authors’ individual contribution: Conceptualization — D.C. and P.K.; Methodology — D.C. and P.K.; Validation — F.K.G. and P.K.; Formal Analysis — F.K.G. and P.K.; Writing — Original Draft — F.K.G. and P.K.; Writing — Review & Editing — D.C. and A.G.; Supervision — A.G.

Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

JEL Classification: G34, M15, M41, M48

Received: 27.07.2025
Revised: 18.11.2025; 26.01.2026
Accepted: 25.02.2026
Published online: 27.02.2026

How to cite this paper: Charamis, D., Gonidakis, F. K., Kyriakogkonas, P., & Garefalakis, A. (2026). Enhancing financial governance through new technologies: The role of accounting information systems in the implementation of Greek accounting standards. Journal of Governance and Regulation, 15(2), 45–55. https://doi.org/10.22495/jgrv15i2art4