Should accountants care about blockchain?

Fuller, Stephen H.; Markelevich, Ariel

doi:10.1002/jcaf.22424

Cited by 62 publications

(43 citation statements)

References 7 publications

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“…For instance, Bonsón and Bednárová (2019: 725) identify “the pending challenges for blockchain, such as scalability, flexibility, a suitable architecture, and cybersecurity,” especially relating to integrating blockchain with existing accounting systems. Similarly, Fuller and Markelevich (2020: 34) analyze “data security, privacy, and implementation considerations,” especially as they relate to accounting information systems. Prewett, Prescott, and Phillips (2020) also discuss the barriers to implementing blockchain technology—namely scalability, architecture, and data security.…”

Section: Resultsmentioning

confidence: 99%

Blockchain in Accounting Research and Practice: Current Trends and Future Opportunities*

Pimentel

Boulianne

2020

Accounting Perspectives

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This article provides a review of the accounting blockchain literature, with a focus on current trends and recommendations for future research opportunities. Our review identifies seven main areas: (i) future of blockchain technology, (ii) impact on the accounting function, (iii) auditing considerations, (iv) financial reporting for cryptoassets, (v) case studies, (vi) governance, and (vii) taxation. The article aims to bridge the gap between practitioners and academics by providing a review of both areas of literature and highlighting common ground between the two arenas. While academics have begun to explore how the accounting profession might change in response to blockchain, this research is limited primarily to the auditing field. Practitioners, for their part, have expanded their scope to also devote significant attention to the financial reporting and taxation of cryptoassets. Expanding the discussion of accounting and blockchains beyond their current concentrations in auditing and accounting information systems, we call for more research on the impact of blockchain technology in other areas such as corporate governance or the intersection of accounting and society.

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Section: Resultsmentioning

confidence: 99%

Blockchain in Accounting Research and Practice: Current Trends and Future Opportunities*

Pimentel

Boulianne

2020

Accounting Perspectives

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“…Accountants, auditors and those responsible for regulations and standards will be significantly affected by this technology, especially regarding record-keeping processes. Record-keeping processes document how transactions are initiated, processed, recorded, reconciled, audited and reported (Coyne and McMickle, 2017; Fuller and Markelevich, 2019).…”

Section: Prologue: Is Bt a Potential Driver Of Transformation In Accountancy Organizations?mentioning

confidence: 99%

“…However, a small number of articles focus more specifically on accounting and auditing organizations (e.g. Rückeshäuser, 2017; Brender et al , 2019; Fuller and Markelevich, 2019; Karajovic et al , 2019). Other papers focus on challenges or possible impacts within a specific type of organization, for example, banks, insurance companies or financial intermediaries that offer financial services.…”

Section: A Glimpse Into the Evolution Of The Literaturementioning

confidence: 99%

Managing change with and through blockchain in accountancy organizations: a systematic literature review

Tiron-Tudor

Deliu

Farcane

et al. 2021

JOCM

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PurposeThe purpose of this paper is to facilitate blockchain innovation immersion in accountancy organizations by providing tools that allow organizations to manage the change. The paper approaches blockchain technology (BT) through the lens of organizational change management, with a specific focus at the organization level.Design/methodology/approachA hybrid systematic literature review of relevant literature is presented based on recent research papers published in highly ranked scientific journals that capture how accounting organizations might manage the changes induced by BT.FindingsThe findings of the review indicate that implementing BT requires some new modus operandi. From individual behavior to organizational structure, the advantages of blockchain must be emphasized in all accounting and auditing organizations. Managers should forge a plan that takes advantage of employees' skills, competencies and talent, implementing forward-looking company procedures and actively deciding how to navigate workplace dynamics, personalities and responsibilities.Research limitations/implicationsThe main limitations of the study refer to the infancy of the BT and require the development of knowledge through future studies to allow a more accurate outline of the overall picture and a detailed one of the BT phenomena with applicability to accounting and auditing. At this stage, it is not yet possible to fully envision the implications of BT on professional accounting and auditing organizations. However, there will be clients who adopt BTs, so firms should work with them to understand BT-based accounting and auditing applications. That is, accounting and auditing organizations should expand their skills and knowledge to anticipate and meet clients' needs.Practical implicationsIn a constantly digitalizing world, the traditional accounting and educational environment is changing but not quickly enough to meet the requirements of a blockchain accounting system yet. For this reason, practical implications on the daily activities of the organizations and the restructuration of their internal architecture have been revealed in this paper.Originality/valueThe paper approaches blockchain using the lens of organizational change management with a specific focus on the accounting and audit organizations, and it proposes solutions to cope with the arising technological challenges. A challenge itself is the implementation of blockchain, especially when an entity is not ready for the process. Therefore, the SWOT analysis elaborated in this paper and focused on the accounting and auditing firms is an element of novelty and at the same time, a helpful tool highlighting the main strengths, weaknesses, opportunities and threats of this technology, supporting organizations in assessing how ready they are for its adoption. The research on blockchain in accountancy organizations is still necessary for at least seven key areas which have been proposed and detailed at the end of the paper, bringing in this way clarity in regards to the most endorsed avenues for future research directions.

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“…As a result, Faccia et al (2019, 32) argue that maximum transparency and security are achieved, and data corruption is reduced. Fuller and Markelevich (2019) focus on cybersecurity concerns relating to the firm's accounting and auditing operations. Contrarily to the articles addressed above, Fuller and Markelevich (2019, 1) argue that the field of accounting might not be a suitable match for the current version of blockchain technology.…”

Section: Literature Reviewmentioning

confidence: 99%

“…As a result, they conduct a contents analysis on the 10K fillings us US firms listed within the exchange in 2018. Fuller and Markelevich (2019) focus on voluntary information Reported concerning the adoption of the technology within firms. The authors determine that organizations such as banks and brokers/dealers have taken steps to integrate blockchain technology (Fuller and Markelevich 2019, 4).…”

Section: Literature Reviewmentioning

confidence: 99%

Deneti̇m Alaninda Blokzi̇nci̇r Uygulamalarinin Hari̇talama Yöntemi̇ İle Anali̇zi̇

Cagle

2020

Muhasebe Bilim Dünyası Dergisi

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Blockchain technology has a wide scope of applicability for accounting and auditing purposes, separate from Bitcoin or other cryptocurrencies. However, although blockchain technology is identified as a popular topic within the field, there currently exists a lack of consensus on how it will be realistically applied. This paper aims to map the presently existing international auditing literature and offer clarity to an otherwise heterogeneous field. The mapping analysis will aid in examining the underlying theme employed within studies. Through the use of the Bibliometrix R-Package "Biblioshiny", a sample of 112 studies were downloaded from the Web of Science Core Collection and analyzed. This study's results show that the topic has gained increased international popularity and separated into distinct research streams; Encrypted Private and Secure Information Sharing, Distributed Ledger, Smart Contracts, Continuous Audit, Audit Trail and Tokenization. However, there still exists a research gap that must be addressed to hasten the adoption of blockchain technology in auditing.

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Should accountants care about blockchain?

Cited by 62 publications

References 7 publications

Blockchain in Accounting Research and Practice: Current Trends and Future Opportunities*

Blockchain in Accounting Research and Practice: Current Trends and Future Opportunities*

Managing change with and through blockchain in accountancy organizations: a systematic literature review

Deneti̇m Alaninda Blokzi̇nci̇r Uygulamalarinin Hari̇talama Yöntemi̇ İle Anali̇zi̇

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