The Impact of Blockchain Technology on the Financial Audit
Mohamed Ali Bejjar, Yosr Siala · Advances in finance, accounting, and economics book series · 2024
This chapter focuses on exploring the implications of blockchain technology on the practice of financial auditing. It begins by explaining the fundamentals of financial auditing, and then provides a historical context for digitization within auditing. This is followed by a thorough examination of blockchain technology, including its architecture, characteristics, and categorizations. The chapter then highlights the integration of blockchain into financial auditing, highlighting benefits such as improved risk management, automated audit processes, fraud reduction, cost savings, and the emergence of a continuous audit model. The changing role of auditors in this technologically evolving landscape is also discussed. This synthesis provides an in-depth perspective on the transformative potential of blockchain to improve the efficiency and transparency of financial audit.