Auditing with Smart Contracts

Blockchain-based smart contracts are emerging as a disruptive force that may change the way financial statement audits are performed and delivered. With their potential ability to autonomously execute audit procedures on behalf of the auditor and disclose the results of these audit procedures, block...

Full description

Saved in:
Bibliographic Details
Published in:International Journal of Digital Accounting Research 2018-01, Vol.18, p.1-27
Main Authors: Rozario, Andrea M, Vasarhelyi, Miklos A
Format: Article
Language:English
Subjects:
Audit committees
Audit quality
Audited financial statements
Auditing
Auditing procedures
Auditing profession
Auditors
Big Data
Bills of lading
Blockchain
Contracts
Data analysis
Deep learning
Digital currencies
Financial statements
Vending machines
Citations: Items that cite this one
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:Blockchain-based smart contracts are emerging as a disruptive force that may change the way financial statement audits are performed and delivered. With their potential ability to autonomously execute audit procedures on behalf of the auditor and disclose the results of these audit procedures, blockchain-based smart contracts have the potential to improve audit quality and meet the information demands of various vested parties for more timely and transparent audit reporting. This paper proposes the application of smart contracts to auditing as an enabler for improved audit data analytics and close to real-time audit reporting.
ISSN:1577-8517
2340-5058
DOI:10.4192/1577-8517-v18_1