Affiliation:
1. Rutgers, The State University of New Jersey
Abstract
ABSTRACT
Blockchain and smart contracts are evolving business practices by enhancing efficiencies and transparency in the value chain. The fusion of these innovations is also likely to transform auditing by automating workflows but more importantly, by enhancing audit effectiveness and reporting. This paper envisions the future financial statement audit by proposing an external audit blockchain that supports smart audit procedures. The external audit blockchain has the potential to improve audit quality and narrow the expectation gap between auditors, financial statement users, and regulatory bodies.
Publisher
American Accounting Association
Subject
Computer Science Applications,Accounting
Reference39 articles.
1. Drivers of the use and facilitators and obstacles of the evolution of big data by the audit profession;Alles;Accounting Horizons,2015
2. Feasibility and economics of continuous assurance 1;Alles;Continuous Auditing: Theory and Application,2002
3. American Institute of Certified Public Accountants (AICPA). 2015. Audit Analytics and Continuous Audit: Looking Toward the Future. New York, NY: AICPA.
4. Securing big data provenance for auditors: The big data provenance black box as reliable evidence;Appelbaum;Journal of Emerging Technologies in Accounting,2016
5. Using nonfinancial measures to asess fraud risk;Brazel;Journal of Accounting Research,2009
Cited by
90 articles.
订阅此论文施引文献
订阅此论文施引文献，注册后可以免费订阅5篇论文的施引文献，订阅后可以查看论文全部施引文献