Can blockchain replace auditors?

Tóm tắt

Blockchain technology is a modern application of the 4.0 industrial revolution, applied in many fields; auditing is not exempt from its influence. Blockchain is a general ledger that records all transactions of parties participating in the system. With Blockchain, double-entry has been moved to a completely new era - Triple-entry. All parties can view and check information on the Blocks. With automatic recording and checking of transactions, Blockchain will reduce a large amount of work for accountants. At the same time, with the advantage of high accuracy, the difficulty in falsifying information will significantly reduce the sample size in the detailed testing of auditors. The article summarizes the development process and operation of Blockchain in general and Blockchain for accounting records, studies the transformation of accounting from single entry to double entry, and develops into Triple entry under Blockchain technology conditions. From there, the article analyzes and evaluates the impacts and challenges on auditing work.