Continuous Audits and Blockchain Technology within Stakeholder Theory: BIST IT Sector Companies in Türkiye

Abstract

This study evaluates the role of blockchain technology in continuous audits based on stakeholder theory. We used a mixed-method approach, including a survey of 133 participants from the IT sector in the BIST 100 index and interviews with three individuals. This study developed a new questionnaire, and reliability, exploratory, and confirmatory factor analyses were conducted. Canonical correlation analysis was used to test the hypotheses, and descriptive analysis assessed participant responses.Results indicate positive, mid-level relationships between blockchain and continuous audits (32%), blockchain and stakeholder theory (48%), and continuous audits and stakeholder theory (40%). Executives and managers expressed distrust of blockchain but believed it could positively impact stakeholder theory and continuous audits, provided all stakeholders adopted it. The qualitative interview results reinforced the main findings, with participants highlighting the need for legal frameworks, particularly in accounting and auditing, to align blockchain with regulations.