TY - JOUR
T1 - Blockchain for Accounting and Auditing—Accounting and Auditing for Cryptocurrencies
T2 - A Systematic Literature Review and Future Research Directions
AU - Georgiou, Ifigenia
AU - Sapuric, Svetlana
AU - Lois, Petros
AU - Thrassou, Alkis
N1 - Publisher Copyright:
© 2024 by the authors.
PY - 2024/7
Y1 - 2024/7
N2 - The aim of this study is to analyze and synthesize the key challenges that are prevalent in the application of blockchain in accounting and auditing, to study the approaches to account for cryptocurrencies, to study the effect of blockchain on the accounting and auditing profession, and to identify the current direction of research of blockchain in accounting and auditing, as well as identify potential avenues of future research. The research is based on 75 peer-reviewed academic studies on the topic of blockchain in accounting and auditing, followed by a descriptive and thematic analysis of the literature. Our results indicate that there is a need for more empirical studies to be carried out, which coincides with the notion of growing digitization and blockchain adoption in accounting and auditing. Based on our thematic analysis of the literature, we recommend that future research on blockchain in accounting and auditing should concentrate on the following specific areas: skills and education, governance, auditor independence, accounting standards and regulation, and the challenges faced by the accounting and auditing professions due to the adoption of blockchain technology.
AB - The aim of this study is to analyze and synthesize the key challenges that are prevalent in the application of blockchain in accounting and auditing, to study the approaches to account for cryptocurrencies, to study the effect of blockchain on the accounting and auditing profession, and to identify the current direction of research of blockchain in accounting and auditing, as well as identify potential avenues of future research. The research is based on 75 peer-reviewed academic studies on the topic of blockchain in accounting and auditing, followed by a descriptive and thematic analysis of the literature. Our results indicate that there is a need for more empirical studies to be carried out, which coincides with the notion of growing digitization and blockchain adoption in accounting and auditing. Based on our thematic analysis of the literature, we recommend that future research on blockchain in accounting and auditing should concentrate on the following specific areas: skills and education, governance, auditor independence, accounting standards and regulation, and the challenges faced by the accounting and auditing professions due to the adoption of blockchain technology.
KW - accounting
KW - auditing
KW - blockchain
KW - cryptocurrency
KW - digitalization
KW - systematic literature
UR - http://www.scopus.com/inward/record.url?scp=85199500231&partnerID=8YFLogxK
U2 - 10.3390/jrfm17070276
DO - 10.3390/jrfm17070276
M3 - Review article
AN - SCOPUS:85199500231
SN - 1911-8074
VL - 17
JO - Journal of Risk and Financial Management
JF - Journal of Risk and Financial Management
IS - 7
M1 - 276
ER -