Effective and Potential Implications of Blockchain Technology for Auditing

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

doi:10.1007/978-3-030-72654-6_42

Cited by 4 publications

(1 citation statement)

References 45 publications

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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

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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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Section: Tokenization Backgroundmentioning

confidence: 99%

A design for tokenization in governmental investment

Silva,

Marques,

Inácio

2023

IJAIM

Self Cite

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Business Digitalization in Accounting and Auditing Fields

Weshah

2024

Studies in Big Data

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Transforming corporate governance: Exploring tokenization’s impact on transparency and ownership — A research agenda

Agostini

2024

RGC

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The integration of tokenization into corporate governance marks a transformative shift in managing corporate ownership and transparency through blockchain technology. This research agenda explores the practical and managerial implications of tokenization, focusing on enhancing shareholder communication and decision-making. By addressing inefficiencies and opacity in traditional corporate governance, tokenization democratizes shareholder participation, streamlines processes, and improves transparency and accountability. Anchored in a comprehensive literature review, the study synthesizes existing research and identifies gaps in understanding tokenization’s impact on corporate governance. Key themes include the role of institutions and governance mechanisms, blockchain’s potential to enhance transparency, reduce intermediaries, lower costs, and boost shareholder engagement. The study also examines evolving legal frameworks and regulatory challenges, emphasizing the need for regulatory clarity to facilitate adoption. A comparative analysis of blockchain platforms versus traditional financial markets highlights unique advantages and challenges related to liquidity, regulatory frameworks, accessibility, transparency, efficiency, stability, trust, and security. This agenda provides a structured framework for investigating the multifaceted impact of tokenization on corporate governance. The findings underscore the importance of innovative regulatory approaches and robust security measures to ensure blockchain platform stability. Future efforts should focus on developing comprehensive regulatory frameworks and ongoing education initiatives to support the democratization of financial markets through blockchain technology, ultimately contributing to a more efficient and equitable corporate landscape.

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Effective and Potential Implications of Blockchain Technology for Auditing

Cited by 4 publications

References 45 publications

A design for tokenization in governmental investment

A design for tokenization in governmental investment

Business Digitalization in Accounting and Auditing Fields

Transforming corporate governance: Exploring tokenization’s impact on transparency and ownership — A research agenda

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