Title: Toward Blockchain-Based Accounting and Assurance
Abstract: ABSTRACT Since 2009, blockchain has served as a potentially transformative information technology expected to be as revolutionary as the Internet. Originally developed as a methodology to record cryptocurrency transactions, blockchain's functionality has evolved into a large number of applications, such as banking, financial markets, insurance, voting systems, leasing contracts, and government service. Despite such advancements, the application of blockchain to accounting and assurance remains under-explored. This paper aims to provide an initial discussion on how blockchain could enable a real-time, verifiable, and transparent accounting ecosystem. Additionally, blockchain has the potential to transform current auditing practices, resulting in a more precise and timely automatic assurance system.
Publication Year: 2017
Publication Date: 2017-06-01
Language: en
Type: article
Indexed In: ['crossref']
Access and Citation
Cited By Count: 564
AI Researcher Chatbot
Get quick answers to your questions about the article from our AI researcher chatbot