The role of blockchain in auditing processes: A review and future perspectives
1 CPA, KPMG, USA.
2 Independent Researcher, London, ON, Canada.
3 Financial analyst, Texas USA.
Review
International Journal of Scientific Research Updates, 2024, 08(01), 037–053.
Article DOI: 10.53430/ijsru.2024.8.1.0045
Publication history:
Received on 22 May 2024; revised on 28 June 2024; accepted on 01 July 2024
Abstract:
This review paper critically examines the transformative impact of blockchain technology on auditing processes. Through a comprehensive analysis of existing literature, it elucidates how blockchain can enhance audit quality, mitigate fraud, ensure data veracity, and navigate the complex landscape of regulatory compliance and ethical considerations. The review highlights the early stages of blockchain adoption in auditing and the evolving nature of the technology, emphasizing the need for further empirical research and case studies. It also underscores the importance of regulators, auditors, and technology experts collaborating to develop comprehensive guidelines and standards for responsible blockchain integration. The paper contributes to the academic discourse by bridging the gap between traditional auditing methodologies and the emerging blockchain paradigm, offering valuable insights for auditors, regulatory bodies, policymakers, and organizations.
Keywords:
Blockchain; Auditing; Audit Quality; Fraud Mitigation; Regulatory Compliance; Ethical Considerations; Technology Integration
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Copyright © 2024 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0