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The Impact of Blockchain on the Accounting Profession

Author

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  • Elena Alina OLARU (COLBEA)

    ("Ștefan cel Mare" University of Suceava)

Abstract

The implementation of the blockchain technology in accounting highlights the automation of traditional accounting functions and the transparency, significantly mitigates the risk of internal fraud and increases the importance of the financial information provided and the trust in that information. Professional accountants need to prepare to accept digitalisation as a challenge to become more experienced and to consolidate their status as a reliable third party. In this article we present the blockchain technology and its probable impact on the accounting profession. The aim of this study is to analyse the research on information technologies in accounting and the way these technologies could modify the industries and professions in time.

Suggested Citation

  • Elena Alina OLARU (COLBEA), 2021. "The Impact of Blockchain on the Accounting Profession," CECCAR Business Review, Body of Expert and Licensed Accountants of Romania (CECCAR), vol. 2(4), pages 63-72, April.
    • Handle: RePEc:ahd:journl:v:2:y:2021:i:4:p:63-72
    DOI: 10.37945/cbr.2021.04.08
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    References listed on IDEAS

    as
    1. Nataliya Shyshkova, 2018. "Prospects for the Implementation of Blockchain in Accounting," Oblik i finansi, Institute of Accounting and Finance, issue 2, pages 61-68, June.
    2. Wang, Yunsen & Kogan, Alexander, 2018. "Designing confidentiality-preserving Blockchain-based transaction processing systems," International Journal of Accounting Information Systems, Elsevier, vol. 30(C), pages 1-18.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    accounting; blockchain; information technologies; audit;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M49 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Other
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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