THE IMPACT OF BLOCKCHAIN TECHNOLOGY ON AUDITING: A PARADIGM SHIFT IN FINANCIAL TRANSPARENCY AND SECURITY
DOI:
https://doi.org/10.29121/shodhkosh.v4.i2.2023.4484Keywords:
Blockchain Technology, Auditing, Financial Transparency, Data Integrity, Digital Ledger, Smart Contracts, Financial ReportingAbstract [English]
Blockchain technology is transforming auditing by enhancing transparency, security, and efficiency. This paper analyses the impact of blockchain on auditing practices, focusing on its ability to create immutable records and prevent fraud. A mixed-method research design is applied to collect qualitative and quantitative data from academic literature and practitioner surveys. The study reveals that blockchain increases audit accuracy, reduces manual errors, and improves stakeholder trust. However, technological complexity, regulatory uncertainties, and implementation costs remain significant challenges. The paper concludes with actionable recommendations for integrating blockchain in auditing and suggests future research on legal and ethical implications.
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