Internal Audit Role in Auditing Blockchain
Patricia Kaim · 2023
This chapter covers the internal auditing (IA) role in auditing blockchain, current challenges, key risks and controls to test and how to select and develop the audit skills required to audit blockchain. Audit leaders must build teams with proper skills to audit blockchain technology and cryptocurrencies. Subject matter experts (SMEs), stronger IA testing programmes and more innovative tools will be required to monitor and review key controls. The technology will advance so much that new tools and enhanced protocols across industries will be a new reality. No standard testing programme will be sufficient to audit blockchain and cryptocurrencies and must be adapted to each organization as this technology continues to evolve. Thus, IA has a marvellous opportunity to provide excellent value when assessing new or emerging risks and technologies.