Applying Blockchain in Accounting and Auditing : Opportunities and Challenges in Business Applications

Abstract

This academic article consists of purposes to propose a method for applying blockchain technology in accounting and auditing, with a focus on enhancing the efficiency of financial data management and reducing the risks of fraud and manual data entry errors. The research methodology involves reviewing studies from both domestic and international sources over the past five years, as well as surveying the application of blockchain in accounting across different contexts. The findings from the study indicate that blockchain technology can increase transparency in financial operations and effectively reduce risks in auditing. However, it was also found that there are technical and legal challenges that need further development, such as improving data storage systems, data verification, and integration with existing accounting systems. Additionally, there are challenges in establishing legal frameworks to fully support the use of this technology. Therefore, the development and improvement of technology, along with awareness-raising and training of personnel, are key factors in ensuring the efficient use of blockchain in accounting and auditing, thereby enhancing financial transparency in the future. These findings can be used to improve the auditing process, making it more reliable and efficient.