Blockchain architecture: A design that helps CPA firms leverage the technology

【Author】 Vincent, Nishani Edirisinghe; Skjellum, Anthony; Medury, Sai

【Source】INTERNATIONAL JOURNAL OF ACCOUNTING INFORMATION SYSTEMS

【影响因子】5.111

【Abstract】Blockchain technology has garnered the interest of the accounting profession in recent years. However, when considering whether to adopt this technology, many business professionals have voiced a lack of a compelling use case as a major challenge. To utilize the technology effectively, first, we need to establish how organizations will connect to the blockchain that will also provide a compelling use-case for CPA firms. In this paper, we design a blockchain architecture for organizations that will facilitate effective connectivity to a blockchain while enabling auditors to leverage this technology to provide audit and assurance services. To design the architecture, we consider two broad questions: first, how do CPA firms gain access to reliable audit evidence and, second, how can client firms maintain confidentiality and security of their data given a decentralized and distributed immutable ledger (i.e., a blockchain). Consequently, the proposed architecture will help auditors gain access to reliable digital audit evidence while incentivizing client firms to adopt blockchain technology by substantially reducing the costs of replacing existing information systems. Given this architecture, auditors could also design continuous audit procedures for their respective clients without having to incur substantial investments in software integration. Further, the architecture can be expanded to include various use cases and supply chain participants, other CPA firms, customers, and regulators. (c) 2020 Elsevier Inc. All rights reserved.

【Keywords】

【发表时间】2020 SEP

【收录时间】2022-01-02

【文献类型】

【主题类别】

--