Blockchain implications for auditing: a systematic literature review and bibliometric analysis

Silva, Romildo; Inácio, Helena; Marques, Rui Pedro

doi:10.4192/1577-8517-v22_6

Cited by 7 publications

(6 citation statements)

References 31 publications

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“…The study on Millennial accountant profession up to this research date, supported by bibliometric analysis, covers various topics including digital labor, metaverse chronicles, virtual reality in the health sector, big data analytics, and Blockchain in auditing and accounting (Goel et al, 2023;Wider et al, 2023;Pawassar & Tiberius, 2021;Aboelmaged & Mouakket, 2020;Silva et al, 2022;Secinaro et al, 2021). Other studies have focused on finance and economics (Uyob et al, 2019;Thiemann & Priester, 2024;Munodei & Sibindi, 2023) as well as public sector accounting (Bruns et al, 2020).…”

Section: Literature Reviewmentioning

confidence: 99%

“…The current literature with bibliometric analysis focused on a wide range of areas such as digital labor (Goel et al, 2023), metaverse chronicles (Wider et al, 2023), virtual reality in the health sector (Pawassar & Tiberius, 2021), big data analytics (Aboelmaged & Mouakket, 2020) and Blockchain in auditing and accounting (Silva et al, 2022;Secinaro et al, 2021). Others examined finance and economics (Uyob et al, 2019;Thiemann & Priester, 2024;Munodei & Sibindi, 2023) and public-sector accounting (Bruns et al, 2020).…”

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

Trends in Digital and Critical Thinking Skills Research in Millennials Accountant Profession: A Bibliometric Analysis

AHMAD,

Abdul Latif,

Yusof

et al. 2024

IMBR

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The accounting profession faces numerous challenges in the era of digitalization. With the constant evolution of technology, the skill of critical thinking is becoming increasingly valuable. Accounting professionals are responsible for making critical choices using financial data, predictions, and analytical techniques. The capacity for critical thinking is of utmost importance in the digital age due to the abundance and complexity of data. Therefore, this paper aims to analyze the trends in articles published on digital and critical thinking skills in the millennial accountant profession by using bibliometric analysis and VOS viewer software. The data were collected from the Scopus database from 2014 to February 2024, with 456 published papers with the keywords “Millennial”, “accountant profession”, “digital skills”, and “critical thinking”. The finding shows that higher education remains the predominant author keyword in academic writing over the previous decade, with accounting education ranking second rather than critical thinking abilities. The top ten articles do not directly correspond to the digital and critical thinking abilities of Millennial accountants. This study contributes to the literature on the Millennial accountant profession by providing interdisciplinary approaches incorporating technology-enhanced learning methods, case studies, and real-world simulations to develop holistic skill sets among aspiring accountants.

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Section: Literature Reviewmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Trends in Digital and Critical Thinking Skills Research in Millennials Accountant Profession: A Bibliometric Analysis

AHMAD,

Abdul Latif,

Yusof

et al. 2024

IMBR

View full text Add to dashboard Cite

show abstract

“…Skill Gap among Auditors Regarding Blockchain Technology: The intersection of finance and technology in the blockchain space demands for a new set of skills by auditors and audit firms. Many audit professionals might not yet possess the deep technological knowledge and advanced skills required to effectively audit blockchain-based operations (Liu, 2020;Silva et al, 2022).…”

Section: Lack Of Sufficient Expertisementioning

confidence: 99%

Blockchain auditing dilemma: Exploring hesitation among audit firms

Hoti,

Krasniqi,

Qehaja

et al. 2024

Multidiscip. Rev.

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Blockchain technology, initially developed for the cryptocurrency Bitcoin, has expanded its reach into various sectors, such as supply chain management, healthcare, and real estate. The technology's transparency, and security have led many to view it as self-auditing. On the other hand, as blockchain integrates into traditional business models, the necessity for formal auditing processes akin to those in the nonblockchain corporate (business) world becomes evident and highly important. The present research explores the hesitancy among audit firms (statutory auditors) to engage in blockchain auditing, delving into the technological, regulatory, and inherent risks that make blockchain a challenging terrain for auditors and their work. The present research outlines the evolution of the blockchain environment, detailing its historical progression and diverse platforms. This finding underscores the crucial role of auditing in ensuring transparency, trust, and corporate (business) sustainability. The challenges faced by audit firms in the blockchain space, including technical complexities, regulatory ambiguities, and inherent risks such as cryptocurrency market volatility/risk, are extensively discussed. Practical case studies such as those of DAO attack, QuadrigaCX's missing funds, and the scrutiny of Bitfinex and Tether illustrate the consequences of inadequate auditing in blockchain platforms. Potential solutions for these challenges have been put forth, with an emphasis on the following: collaborative learning and training, advocacy for regulatory clarity, technological advancements, and the development of auditing standards specific to blockchain. The study culminates by emphasising the consequences of audit firms' ongoing reluctance towards blockchain technology and the advantages that can be gained by surmounting these obstacles. The aforementioned discovery implies that a mutually beneficial association between auditors and the blockchain industry may usher in an unprecedented epoch characterised by enhanced market economy transparency, confidence, and ingenuity. A comparison of conventional and blockchain auditing methods is presented in the appendices, with an emphasis on the distinctions between the two approaches.

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“…Many applications of blockchain are already producing effective implications for companies impacting areas such as governance, transparency, trust, auditing companies with investments in digital assets, real-time auditing and assets’ tokenization effect (Silva et al , 2022). For example, Silva et al (2021) produced a proof of concept on tokenization through the creation of a token on the Ethereum Ropsten platform, establishing that the tokenization of currencies, assets, accounts or anything the human mind can conceive is a reality for many companies around the world.…”

Section: Tokenization Backgroundmentioning

confidence: 99%

A design for tokenization in governmental investment

Silva,

Marques,

Inácio

2023

IJAIM

Self Cite

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Purpose The purpose of this study is to identify the possible efficiency gains in using tokenization for the execution of public expenditure on governmental investments. Design/methodology/approach Through design science research methodology, the exploratory research produced a tokenized prototype in the blockchain, through the Ernst and Young OpsChain traceability solution, allowing automated processes in the stages of public expense. A focus group composed of auditors from the public sector evaluated the possibility of improving the quality of information available in the audited entities, where the tokens created represent and register the actions of public agents in the blockchain Polygon. Findings The consensus of the experts in the focus group indicated that the use of tokenization could improve the quality of the information, since the possibility of recording the activities of public agents in the metadata of the tokens at each stage of the execution of the expenditure allows the audited entities the advantages of the information recorded on the blockchain, according to the following ranking: first the immutability of audited data, followed by reliability, transparency, accessibility and efficiency of data structures. Originality/value This research makes an empirical contribution to the real use of tokenization in blockchain technology to the public sector through a value chain in which tokens were created and moved between the wallets of public agents to represent, register and track the operations regarding public expense execution.

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Blockchain implications for auditing: a systematic literature review and bibliometric analysis

Cited by 7 publications

References 31 publications

Trends in Digital and Critical Thinking Skills Research in Millennials Accountant Profession: A Bibliometric Analysis

Trends in Digital and Critical Thinking Skills Research in Millennials Accountant Profession: A Bibliometric Analysis

Blockchain auditing dilemma: Exploring hesitation among audit firms

A design for tokenization in governmental investment

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