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Publication year
The Integration of Blockchain Technology in Accounting and Auditing
Resource type
Authors/contributors
- Almeida, Ermelinda Nazaré António de (Author)
- Marques, João Alexandre Lobo (Contributor)
- University of Saint Joseph (Contributor)
Title
The Integration of Blockchain Technology in Accounting and Auditing
Abstract
The emergence of blockchain technology in 2008 marked a significant milestone in the evolution of digital currencies, paving the way for the emergence of cryptocurrencies such as Bitcoin. Since then, blockchain has undergone four generations of development, expanding its applications across various sectors. In particular, the integration of blockchain into accounting and auditing practices has garnered significant attention due to its potential to transform traditional methods. However, there's a lack of clear understanding of how blockchain impacts traditional auditing practices and finance recordkeeping and the implications for audit quality. Significant challenges and uncertainties hinder its widespread adoption, including technical hurdles, regulatory complexities, and practical barriers. This dissertation aims to determine the transformative impact of blockchain technology on auditing practices and finance recordkeeping. In order to fully understand the impact of blockchain on auditing practices and finance recordkeeping, the dissertation utilizes a mixed sequential research approach that is divided into three phases. The first approach involves gathering qualitative data through interviews with blockchain experts. The second approach involves collecting secondary qualitative data through a systematic literature review to determine the changes that blockchain has brought to traditional auditing practices and finance recordkeeping. This is followed by a bibliometric analysis to identify current trends in blockchain research related to auditing practices and finance recordkeeping. The third approach involves gathering data through an online-focused survey distributed to finance and other industry professionals to determine the challenges organizations face in implementing blockchain technology in auditing practices and finance recordkeeping. Additionally, in phase three, case studies will be conducted based on the survey responses to examine the hindrances and challenges faced by organizations in implementing blockchain and its impact on auditing practices in different regions and among different demographic groups.
As the findings indicate, Integrating blockchain technology into accounting and auditing practices can bring about significant improvements in transparency, efficiency, and fraud prevention. However, there are several challenges that must be overcome for successful implementation, such as technical difficulties, regulatory uncertainties, and privacy concerns. To overcome these hurdles, it is necessary to establish clear regulatory frameworks and innovative solutions. Although smart contracts offer automation, they also pose security risks that need to be addressed. Despite these challenges, blockchain has the potential to revolutionize auditing by enabling real-time auditing and enhancing integrity verification. To ensure audit quality, auditors must adapt to new responsibilities and stay up-to-date with emerging trends. Collaboration among stakeholders and continuous education and training programs are key to driving the successful adoption of blockchain technology
University
University of Saint Joseph
Place
Macau
Date
2024
# of Pages
158
Language
eng
Library Catalog
Library Catalog (Koha)
Call Number
M-BA 2024 ALM,ERM
Notes
In Partial Fulfillment of the Requirements for the Degree of Master in Business Administration in the Faculty of Business and Law, University of Saint Joseph, Macao, May, 2024Supervisor : João Alexandre Lobo Marques
Citation
Almeida, E. N. A. de. (2024). The Integration of Blockchain Technology in Accounting and Auditing [University of Saint Joseph]. https://drive.google.com/file/d/1HzrrH1ptRX2xf6ExSEafQPswFh5jF37E/view?usp=sharing
USJ Theses and Dissertations
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