Blockchain: A Threat to Modern-Day Auditing

• Post by: ams
• January 29, 2022
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Blockchain: A Threat to Modern-Day Auditing 

Chukwuani, Victoria Nnenna, Ph.D.

Department of Accountancy, Enugu State University of Science and Technology

*Corresponding Author: Chukwuani, Victoria Nnenna | Department of Accountancy, Enugu State University of Science and Technology | FULL PDF

ABSTRACT

This study evaluates the threat blockchain poses to modern-day auditing. The study introduces blockchain in accounting as a more secured means of dealing with modern-day data. The research work majorly discusses two forms of blockchain; permissioned and permissionless blockchain. The benefits and drawbacks of blockchain in accounting are furthermore discussed. The relationship between blockchain and auditing is examined. Briefly, auditing is studied to help understand this research work better. The core of this study which is the threat of blockchain to modern-day auditing is critically analyzed and a way forward is stated. The study concludes that blockchain despite being very innovative and helpful has threats and limitations which can be a challenge to modern-day auditing.

Keywords Blockchain; Auditing; Modern-Day Accounting