Blockchain Technology in Accounting and Auditing
https://doi.org/10.26794/2408-9303-2020-7-1-69-79
Abstract
Over the past few years the popularity of blockchain technology has grown significantly. It is able to make change as the economic environment, as also identifying new approaches to business management. The paper is devoted to innovative aspects that appear and have a tendency to develop in the field of accounting and audit due to the blockchain technologies development. This technology can affect entire industries, and especially the financial sector. The decision to use blockchain in combination with appropriate data analytics can help in accounting processes, as well as in conducting daily transactions involved in the audit. The transition to a financial system with a significant element of the blockchain opens up many opportunities for the profession of an accountant and the skills of the auditor will be focused more on concerning issues of a higher level. The methodological base of the study includes the theory of accounting and auditing, as well as the principles of operation of blockchain technologies in the aspect of their application in finance. The study overviews the main trends in the development of blockchain technology in accounting and auditing based on foreign scientific studies, as well as reviews of blockchain practices in articles by various scientists. The result of this research is an analysis of blockchain technologies in the finance field. The study depicts conclusions about the degree of applicability of this technology in the Russian Federation, reflects the main problems, risks and benefits from the introduction of this technology. This paper may promote an interest to the current professionals in the accounting and auditing field, as well as to professionals working in the range of building data exchange systems between employees involved in working with finances.
About the Authors
A. A. Baev
Financial University
Russian Federation
Anton A. Baev — 2nd year student of magistracy
Russian Federation
Anton A. Baev — 2nd year student of magistracy
V. S. Levina
Financial University
Russian Federation
Vitaliya S. Levina — 2nd year student of magistracy
Russian Federation
Vitaliya S. Levina — 2nd year student of magistracy
A. V. Reut
Financial University
Russian Federation
Anastasia V. Reut — 2nd year student of magistracy
Russian Federation
Anastasia V. Reut — 2nd year student of magistracy
A. A. Svidler
Financial University
Russian Federation
Alexander A. Svidler — 2nd year student of magistracy
Russian Federation
Alexander A. Svidler — 2nd year student of magistracy
I. A. Kharitonov
Financial University
Russian Federation
Igor’ A. Kharitonov — 2nd year student of magistracy
Russian Federation
Igor’ A. Kharitonov — 2nd year student of magistracy
V. V. Grigor’ev
Financial University
Russian Federation
Vladimir V. Grigor’ev — Dr. Sci. (Econ.), Professor, Department of Corporate Finance and Corporate Governance
Russian Federation
Vladimir V. Grigor’ev — Dr. Sci. (Econ.), Professor, Department of Corporate Finance and Corporate Governance
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Review
For citations:
Baev A.A., Levina V.S., Reut A.V., Svidler A.A., Kharitonov I.A., Grigor’ev V.V. Blockchain Technology in Accounting and Auditing. Accounting. Analysis. Auditing. 2020;7(1):69-79. (In Russ.) https://doi.org/10.26794/2408-9303-2020-7-1-69-79
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