Towards Blockchain-Based Accounting And Assurance

Jun Dai
Miklos A Vasarhelyi
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 crypto-currency 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 potential to transform current auditing practices resulting in a more precise and timely automatic assurance system.

Metadata

Year 2017
Peer Reviewed done
Venue Journal of Information Systems
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