THE ROLE OF BLOCKCHAIN IN ENHANCING THE ACCURACY AND TRANSPARENCY OF AUDITING AND ACCOUNTING PROCESSES
DOI:
https://doi.org/10.5281/zenodo.15002643Keywords:
Blockchain, Accuracy, TransparencyAbstract
This study highlights how blockchain technology enhances the transparency, traceability, and accuracy of accounting processes while minimizing human errors. However, challenges such as initial implementation costs and issues related to fraud prevention persist. Recommendations include raising awareness through training, integrating blockchain with human systems, adopting real-time auditing to improve efficiency, and expanding research to address implementation challenges and develop practical solutions.
References
Appelbaum, D., and Smith., S. (2018). Blockchain basics and hands-on guidance. Retrieved From https://www.cpajournal.com/2018/06/19/blockchain-basics-and-hands-on-guidance/.
Swan, M. (2015). Blockchain – Blueprint for a New Economy. Sebastopol, CA: O’Reilly Media.p35.
Yermack, D. (2017). “Corporate Governance and Blockchains” Review of Finance (forthcoming).
Bonyuet, D., (2020). Overview and Impact of Blockchain on Auditing, The International Journal of Digital Accounting Research, Oklahoma State University, USA.
Bible, W., Raphael, J., Riviello, M., Taylor, P. & Valiente, O. (2017). Blockchain technology and the potential impact on the audit and assurance profession.
Dai, J. & Vasarhelyi, M. (2017). Toward blockchain-based accounting and assurance. Journal of Information Systems. Retrieved from https://www.studeersnel.nl/nl/document/hogeschool-utrecht/minor-beleggen/toward-blockchain-based-accounting-and-assurance/27460508.
Rozario, A. & Vasarhelyi, M. (2018). Auditing with smart contracts. The International Journal of Digital Accounting Research, 18 (1), 1-27. https://doi.org/10.4192/1577-8517 v18_1.
Sadu, I. (2018). Auditing blockchain. Internal Auditor, 17-19. https://iia-indonesia.org/files/magazine/Majalah_IA_Dec2018.pdf.
la Torre, M., Botes, V.L., Dumay, J. and Odendaal, E. (2021). Protecting a new Achilles heel: the role of auditors within the practice of data protection. Managerial Auditing Journal, Published Online, Vol. 36 No. 2, pp. 218-239.
Coyne, J. G., and McMicle, P., L. (2017). “Can Blockchain Serve an Accounting Purpose?” Journal of Emerging Technologies in Accounting (14:2), pp. 101-111.
O’Leary, D.E. (2019). “Some issues in blockchain for accounting and the supply chain, with an application of distributed databases to virtual organizations”, Intelligent Systems in Accounting, Finance and Management, Vol. 26 No. 3, pp. 137-149.
Peters, W., and Panayi, E. (2016). Understanding modern banking ledgers through blockchain technologies: Future of transaction processing and smart contracts on the Internet of Money. In Banking Beyond Banks and Money, 239–278. New York, NY:Springer ,International Publishing.
Kiviat, T. I. (2015). Beyond Bitcoin: Issues in regulating blockchain transactions. Duke Law Journal 65: 569–608.
Atzori, L., Iera, A., and Morabito, G. (2010). The Internet of Things: A survey. Computer Networks 54 (15): 2787–2805.
Hancock, M. and Vaizey., E. (2016). Distributed Ledger Technology: Beyond Block Chain. Retrieved From https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/492972/gs-16-1-distributed-ledger technology.pdf.
Allison, I. (2015). Deloitte, Libra, Accenture: The Work of Auditors in the Age of Bitcoin 2.0 Technology. Available at: http://www.ibtimes. co.uk/deloitte-libra-accenture-work auditors-age-bitcoin-2-0 -technology-1515932
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2025 Abedalhaleem ALABADLA

This work is licensed under a Creative Commons Attribution 4.0 International License.