The credibility of financial and accounting information in the digital era: blockchain-based challenges and solutions from the perspective of professionals
Aug 2026· Development Through Research and Innovation IDSC-2026· 0 citations· 13 references
TL;DR
The research results highlight that respondents perceive blockchain as a technology with significant potential to increase transparency, data security, and trust in financial reporting and indicate the existence of significant challenges regarding the implementation of this technology, including low levels of digital literacy, high implementation costs, and an inadequate regulatory framework.
Abstract
The digital transformation of financial and accounting processes has generated growing interest in technologies capable of enhancing the credibility, transparency, and security of financial and accounting information. Among these, blockchain technology is considered one of the most important emerging technologies, with the potential to transform accounting and auditing practices. The purpose of this research is to analyze the perceptions of accounting professionals regarding the credibility of financial and accounting information in the context of digital transformations and to assess the potential of blockchain technology to contribute to increased transparency, security, and trust in financial and accounting information. The research is quantitative in nature and is based on a survey administered to 82 respondents from the fields of accounting, auditing, and academia. The research results highlight that respondents perceive blockchain as a technology with significant potential to increase transparency, data security, and trust in financial reporting. At the same time, the results indicate the existence of significant challenges regarding the implementation of this technology, including low levels of digital literacy, high implementation costs, and an inadequate regulatory framework. The research also highlights a low level of familiarity with blockchain technology at the national level.
The analysis highlights that blockchain acts as a structural driver of accounting transformation, but its effectiveness depends on the alignment between technological development, the institutional framework, and the adaptation of professional practices.
Eliza Cretu, V. Grosu, C. Cosmulese· Development Through Research...· 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 rapid growth of blockchain technology has accelerated the emergence of digital assets and tokenization, creating significant challenges for existing accounting standards. This study aims to analyze the readiness of current accounting standards in addressing the development of digital assets and tokenization within the blockchain-based economy. A qualitative library research approach was employed by reviewing books, peer-reviewed journal articles, accounting standards, regulatory documents, and other relevant scientific publications. The collected literature was analyzed using content analysis to identify patterns, conceptual gaps, and emerging issues related to the recognition, measurement, classification, disclosure, and reporting of blockchain-based digital assets. The findings indicate that current accounting standards provide limited guidance for cryptocurrencies and remain insufficient to accommodate more complex blockchain innovations, including tokenized assets, decentralized finance, non-fungible tokens, and smart contract transactions. Significant inconsistencies persist across accounting practices due to the absence of comprehensive standards that reflect the economic substance of digital assets. This study concludes that existing accounting standards demonstrate moderate readiness and require substantial refinement to improve transparency, comparability, and reliability of financial reporting. The study contributes to the growing literature by providing recommendations for future accounting standard development that aligns with technological innovation and the evolving blockchain-based economy.
A. Zulkarnnaeni, Yentina Siregar, Rahayu Kusumawati et al.· Mandalika Journal of Busines...· 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
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
: Against the background of the reform of the digital economy-enabled capital market, the improvement of the quality of financial reports and the optimization of audit efficiency of China's listed enterprises are facing the bottleneck of the traditional mode. The blockchain technology has become the key to breaking the situation by virtue of its core characteristics, such as decentralization and tamper ability. This paper focuses on the core connotation of blockchain technology, combined with the practice of domestic enterprises and international research data, analyses its application mechanism in the two scenarios of financial accounting and statement preparation, and audit business innovation, and focuses on the dialectical relationship between technical value and limitations. Affirming its role in the reconstruction of the financial trust system and also facing up to practical disputes such as technical performance and cost-effectiveness, it finally puts forward targeted suggestions from the dimensions of technology research and development, enterprise application and industry collaboration, providing theoretical support and practical guidance for the rational application of blockchain technology in the financial field.
Jun-Yuan Bai· Proceedings of the 1st Inter...· 0 citations
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