Aug 2026· Journal of Accounting and Financial Management· pp. 19· 0 citations
TL;DR
While blockchain technology holds significant potential for transforming auditing, its actual impact is contingent on the strategic leveraging of its core characteristics, suggesting that integrating blockchain's inherent strengths into audit methodologies can lead to a more proactive, continuous, and comprehensive assurance function, thereby fostering greater trust and transparency in financial reporting for large corporations.
Abstract
The auditing profession faces increasing challenges related to data complexity, transparency, and
efficiency, necessitating the adoption of innovative technologies. This study empirically
investigates the impact of blockchain technology on audit quality and efficiency within large
corporations, focusing on the specific roles of immutability, transparency, smart contracts, and
data security. Drawing on the Technology-Organization-Environment (TOE) framework,
Diffusion of Innovations Theory, and Transaction Cost Economics, the research posits that these
blockchain characteristics significantly enhance audit outcomes. A survey research design was
employed, collecting data from 294 auditors and financial professionals in large corporations and
audit firms globally that are utilizing or exploring blockchain technology. Data were analyzed
using descriptive statistics, Pearson Product-Moment Correlation, and Multiple Regression
Analysis. The findings reveal that all four independent variables, immutability, transparency,
smart contracts, and data security, are significant positive predictors of both audit quality and
audit efficiency. Specifically, immutability emerged as the strongest predictor for audit quality
(β=0.450, p<0.001), emphasizing its role in enhancing the reliability of audit evidence.
Transparency was identified as the most influential factor for audit efficiency (β=0.400, p<0.001),
highlighting its ability to streamline evidence gathering and reduce information asymmetry. The
regression models explained a substantial portion of the variance in audit quality (R2=0.783) and
audit efficiency (R2=0.740). This study concludes that while blockchain technology holds
significant potential for transforming auditing, its actual impact is contingent on the strategic
leveraging of its core characteristics. The results reinforce the theoretical frameworks, suggesting
that integrating blockchain's inherent strengths into audit methodologies can lead to a more
proactive, continuous, and comprehensive assurance function, thereby fostering greater trust and
transparency in financial reporting for large corporations. Recommendations include developing
specialized training programs for auditors, initiating pilot projects, and designing audit-friendly
blockchain platforms.
The rapid advancement of digital technologies has transformed the financial services industry by improving operational efficiency, customer experience, and data management. Among these technologies, blockchain technology has emerged as a revolutionary innovation that enhances financial transparency, security, accountability, and trust through its decentralized and immutable ledger system. Financial institutions are increasingly exploring blockchainbased solutions to improve transaction integrity, reduce fraud, streamline auditing processes, and ensure compliance with regulatory requirements. This study, titled "A Study on Blockchain Technology and Its Role in Enhancing Financial Transparency at Bajaj Finserv," examines the significance of blockchain technology in strengthening transparency within the financial operations of Bajaj Finserv. The research analyzes the core features of blockchain, including decentralization, cryptographic security, immutability, smart contracts, and realtime transaction recording, and evaluates their contribution to improving financial reporting, auditability, and operational efficiency. The study further investigates the potential benefits and challenges associated with blockchain adoption, such as implementation costs, regulatory concerns, scalability issues, data privacy, and technological integration. In addition, the research explores how blockchain can minimize financial fraud, enhance customer confidence, improve regulatory compliance, and support secure digital financial services. The findings indicate that blockchain technology has significant potential to improve financial transparency by providing accurate, tamper-proof, and verifiable financial records while enabling efficient and secure business operations. Although certain technical and regulatory challenges remain, the study concludes that blockchain represents a strategic technological solution for strengthening transparency, governance, and long-term sustainability in the financial services sector. The research provides valuable insights for financial institutions, policymakers, technology professionals, and researchers seeking to leverage blockchain for building transparent, reliable, and digitally resilient financial ecosystems.
Parki Karteek, A. A. K. Reddy, T. Meghana· International Journal of Eng...· 0 citations
Blockchain technology has emerged as a transformative innovation that is reshaping financial systems by improving transparency, security, and accountability. This study examines the role of blockchain technology in enhancing financial transparency at Deloitte, with a focus on its applications in financial reporting, auditing, transaction verification, and regulatory compliance. The research explores how blockchain's decentralized and immutable ledger system reduces the risk of fraud, minimizes human errors, and enables real-time monitoring of financial transactions. A quantitative research approach is adopted using structured questionnaires to collect data from employees and professionals familiar with blockchainenabled financial processes. The collected data are analyzed using descriptive statistics and graphical representations to evaluate the effectiveness of blockchain in promoting transparent financial operations. The findings indicate that blockchain technology significantly improves data integrity, audit efficiency, transaction traceability, and stakeholder confidence while reducing operational costs and reconciliation efforts. However, challenges such as implementation costs, scalability issues, regulatory uncertainty, and the need for skilled professionals continue to influence its adoption. The study concludes that blockchain has substantial potential to strengthen financial transparency within organizations such as Deloitte by creating a secure, reliable, and tamper-resistant financial ecosystem. The research also provides recommendations for organizations seeking to integrate blockchain into their financial management and governance practices.
Saba Fatima, A. K. Reddy, B. Vijay· American Journal of Manageme...· 0 citations
The objective of this study was to ascertain the extent to which blockchain technology impacts the speed and accuracy of transactions, encryption technology (security and protection), transparency and credibility, and decentralisation. The objective of the study was twofold: firstly, to ascertain the extent to which these dimensions enhance the efficiency and effectiveness of internal audit operations; and secondly, to develop the internal audit function. The present study employed a descriptive-analytical approach. The study population comprised employees working in the 22 banks operating in Sana'a. The present study sample comprised 140 specialist employees from Yemeni banking institutions, including financial managers, heads of internal audit departments, financial administration employees, internal audit employees and information technology employees.
The study concluded that blockchain technology exerts a statistically significant impact on the development of the internal audit function in banking institutions in the Republic of Yemen. The technology in question has been demonstrated to improve the speed and accuracy of financial transactions, enhance data security and protection through encryption techniques, increase the transparency and traceability of financial operations and support the decentralisation of information management and exchange.
Mahmoud Ali Abdullah Musaed Farhan, Dr. Sultan Hassan Mohammed Al-Halemi· International journal of res...· 0 citations
This article examines how the adoption of blockchain technology influences audit efficiency and fraud detection within modern accounting practice. As financial transactions increasingly move into distributed ledger environments, external auditors are compelled to revisit the assumptions, procedures, and tools that underpin traditional assurance work. Through a systematic review of contemporary auditing, accounting information systems, and financial technology literature, this study identifies the mechanisms through which blockchain reshapes the audit process. The findings indicate that blockchain adoption enhances efficiency primarily by enabling real-time access to immutable transaction records, reducing reliance on sampling-based procedures, automating control testing through smart contracts, and facilitating continuous auditing. At the same time, the technology strengthens fraud detection capacity by improving the traceability of transactions, increasing the difficulty of retroactive manipulation, and supporting forensic analysis of anomalous patterns. However, the realization of these benefits is conditional on several factors, including auditor competence, integration with legacy systems, regulatory clarity, data privacy constraints, and the risk that fraud shifts to points where the blockchain boundary intersects with off-chain processes. The review concludes that blockchain does not eliminate the need for professional skepticism; rather, it redefines the focus of auditor judgment from verifying recorded transactions to evaluating the reliability of the underlying technology environment and its governance. Practical implications for audit firms, standard-setting bodies, and regulators are discussed.
H. Nurhadi, Mahdi Mahdi, Irdawati Irdawati et al.· LANCAH: Jurnal Inovasi dan T...· 0 citations
It is concluded that blockchain redefines, rather than eliminates, the role of accountants and auditors, and that its consolidation will depend on regulatory progress, curricular updates, and further empirical evidence on its real-world implementation across diverse institutional contexts.
Sandra Patricia Toala Bozada, Maryury Elizabeth Morejón Santistevan, Laura Beatriz Farfán Menéndez et al.· Reincisol.· 0 citations
This study investigates to investigate the main determinants of financial service industry adoption blockchain technology and their impact on financial transparency and efficiency. In particular, the paper looks at how technological readiness, organizational control and supporting regulations enable blockchain use among financial institutions working in the banks of Jordanian banking sector.
A quantitative research design based on a structured questionnaire was employed, which was distributed throughout Jordanian banks to senior and middle-level management. Responses were collected from senior executives, heads of divisions, IT managers and branch managers who are involved in both the financial and technological decision-making processes. SmartPLS was used to conduct Partial Least Squares Structure Equation Modeling (PLS-SEM) analysis using SmartPLS on 192 valid responses to check the measurement model and test the theorized relationships in proposed research framework.
Results show that technological readiness, organizational governance and regulatory support play an important role in encouraging blockchain technology uptake by financial services. Furthermore, financial institutions adopting blockchain update general ledger journal records in an interactive way which is positively associated with the degree to which financial transparency and operational efficiency are attained. This underscores the part played by technological capabilities as well as governance frameworks and regulatory contexts in encouraging successful blockchain adoption while helping to improve institutional performance.
In articulating a new frame of analysis from a TOE perspective that takes into account technological, organizational, and environmental factors together, the paper contributes to an emerging literature on adoption of blockchain by financial services. Moreover, it carries out an empirical examination of the performance effects associated with introducing blockchain technology into the banks of Jordan the country which is focused on enhancing financial transparency and operational efficiency.
G32; K22; O16; L60.
A. A. Alsmadi, R. Al-Smadi· Frontiers in Blockchain· 0 citations
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