IDEAS home Printed from https://ideas.repec.org/a/alu/journl/v2y2024i26p1.html
   My bibliography  Save this article

Blockchain Technologyand The Accounting Profession.A Structured Literature Review.

Author

Listed:
  • DONÈšU Adelina - Nicoleta

    (BabeÅŸ-Bolyai University)

Abstract

This study investigates the impact of blockchain technology (BCT) on the accounting profession, focusing on both the opportunities and challenges associated with its integration. The objectives areto assess thecurrent stateof academicresearch on blockchain in accounting, to analyse key themes and research focuses in the literature, and to evaluate the technology's potential impact on the profession. Methodologically, this research follows a structured literature review (SLR) approach, analysing 60 academicpapers using both qualitativeand quantitativemethods. Keyresults indicate that blockchain can automate reconciliations, improve audit trails, and streamline accounting tasks. However, scalability issues, privacy concerns, regulatory uncertainty, and implementation costsremain significant challenges. Whileblockchain holds promisefor transforming accounting practices, the research reveals a need for more empirical studies, particularly real-world applications. The findings contribute to ongoing discussions in both academia and industry, emphasizing the importance of further research and collaboration between accounting professionals and IT specialists to effectively harness blockchain's potential.

Suggested Citation

  • DONÈšU Adelina - Nicoleta, 2024. "Blockchain Technologyand The Accounting Profession.A Structured Literature Review.," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 2(26), pages 1-1.
    • Handle: RePEc:alu:journl:v:2:y:2024:i:26:p:1
    as

    Download full text from publisher

    File URL: http://oeconomica.uab.ro/upload/lucrari/2620242/01.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Erica Pimentel & Emilio Boulianne, 2020. "Blockchain in Accounting Research and Practice: Current Trends and Future Opportunities," Accounting Perspectives, John Wiley & Sons, vol. 19(4), pages 325-361, December.
    2. Marion Pauline Gauthier & Nathalie Brender, 2021. "How do the current auditing standards fit the emergent use of blockchain?," Managerial Auditing Journal, Emerald Group Publishing Limited, vol. 36(3), pages 365-385, June.
    3. Vincent, Nishani Edirisinghe & Skjellum, Anthony & Medury, Sai, 2020. "Blockchain architecture: A design that helps CPA firms leverage the technology," International Journal of Accounting Information Systems, Elsevier, vol. 38(C).
    4. 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.
    5. Enrique Bonsón & Michaela Bednárová, 2019. "Blockchain and its implications for accounting and auditing," Meditari Accountancy Research, Emerald Group Publishing Limited, vol. 27(5), pages 725-740, October.
    6. Jana Schmitz & Giulia Leoni, 2019. "Accounting and Auditing at the Time of Blockchain Technology: A Research Agenda," Australian Accounting Review, CPA Australia, vol. 29(2), pages 331-342, June.
    7. Maurizio Massaro & John Dumay & James Guthrie, 2016. "On the shoulders of giants: undertaking a structured literature review in accounting," Accounting, Auditing & Accountability Journal, Emerald Group Publishing Limited, vol. 29(5), pages 767-801, June.
    8. Boon Seng Tan & Kin Yew Low, 2019. "Blockchain as the Database Engine in the Accounting System," Australian Accounting Review, CPA Australia, vol. 29(2), pages 312-318, June.
    9. Tyrone Carlin, 2019. "Blockchain and the Journey Beyond Double Entry," Australian Accounting Review, CPA Australia, vol. 29(2), pages 305-311, June.
    10. Ahmed Anis, 2023. "Blockchain in accounting and auditing: unveiling challenges and unleashing opportunities for digital transformation in Egypt," Journal of Humanities and Applied Social Sciences, Emerald Group Publishing Limited, vol. 5(4), pages 359-380, August.
    11. Cynthia Weiyi Cai, 2021. "Triple‐entry accounting with blockchain: How far have we come?," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 61(1), pages 71-93, March.
    12. Nguyen Phu Giang & Hoang Thi Tam, 2023. "Impacts of Blockchain on Accounting in the Business," SAGE Open, , vol. 13(4), pages 21582440231, December.
    13. McCallig, John & Robb, Alastair & Rohde, Fiona, 2019. "Establishing the representational faithfulness of financial accounting information using multiparty security, network analysis and a blockchain," International Journal of Accounting Information Systems, Elsevier, vol. 33(C), pages 47-58.
    14. Alessandra Lardo & Katia Corsi & Ashish Varma & Daniela Mancini, 2022. "Exploring blockchain in the accounting domain: a bibliometric analysis," Accounting, Auditing & Accountability Journal, Emerald Group Publishing Limited, vol. 35(9), pages 204-233, February.
    15. Guthrie, James & Ricceri, Federica & Dumay, John, 2012. "Reflections and projections: A decade of Intellectual Capital Accounting Research," The British Accounting Review, Elsevier, vol. 44(2), pages 68-82.
    16. John Dumay & Cristiana Bernardi & James Guthrie & Paola Demartini, 2016. "Integrated reporting: A structured literature review," Accounting Forum, Taylor & Francis Journals, vol. 40(3), pages 166-185, September.
    17. Jesús Calderón & Theophanis C. Stratopoulos, 2020. "What Accountants Need to Know about Blockchain," Accounting Perspectives, John Wiley & Sons, vol. 19(4), pages 303-323, December.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Marco Bellucci & Damiano Cesa Bianchi & Giacomo Manetti, 2021. "A literature review on blockchain in accounting research," Working Papers - Business wp2021_04.rdf, Universita' degli Studi di Firenze, Dipartimento di Scienze per l'Economia e l'Impresa.
    2. Han, Hongdan & Shiwakoti, Radha K. & Jarvis, Robin & Mordi, Chima & Botchie, David, 2023. "Accounting and auditing with blockchain technology and artificial Intelligence: A literature review," International Journal of Accounting Information Systems, Elsevier, vol. 48(C).
    3. Diego Valentinetti & Michele A. Rea, 2022. "Blockchain e bilancio di esercizio: verso una convergenza di interessi "distribuita"?," MANAGEMENT CONTROL, FrancoAngeli Editore, vol. 2022(2), pages 15-40.
    4. Akter, Mohsina & Kummer, Tyge-F. & Yigitbasioglu, Ogan, 2024. "Looking beyond the hype: The challenges of blockchain adoption in accounting," International Journal of Accounting Information Systems, Elsevier, vol. 53(C).
    5. Fábio Albuquerque & Paula Gomes Dos Santos, 2023. "Recent Trends in Accounting and Information System Research: A Literature Review Using Textual Analysis Tools," FinTech, MDPI, vol. 2(2), pages 1-27, April.
    6. Rosanna Span? & Maurizio Massaro & Adele Caldarelli & Carlo Bagnoli, 2023. "Blockchain implications for the accounting realm: A critique of extant studies," MANAGEMENT CONTROL, FrancoAngeli Editore, vol. 2023(1), pages 21-42.
    7. Juma'h, Ahmad H. & Li, Yuan, 2023. "The effects of auditors’ knowledge, professional skepticism, and perceived adequacy of accounting standards on their intention to use blockchain," International Journal of Accounting Information Systems, Elsevier, vol. 51(C).
    8. Mohammed Adel Elzahaby, 2023. "Corporate narrative disclosure practices in the Middle East and North Africa (MENA) region: a systematic literature review," International Journal of Disclosure and Governance, Palgrave Macmillan, vol. 20(3), pages 296-315, September.
    9. Walaa Wahid ElKelish*, 2023. "Accounting for Corporate Human Rights: Literature Review and Future Insights," Australian Accounting Review, CPA Australia, vol. 33(2), pages 203-226, June.
    10. Nerantzidis, Michail & Tampakoudis, Ioannis & She, Chaoyuan, 2024. "Social media in accounting research: A review and future research agenda," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 54(C).
    11. de Villiers, Charl & Kuruppu, Sanjaya & Dissanayake, Dinithi, 2021. "A (new) role for business – Promoting the United Nations’ Sustainable Development Goals through the internet-of-things and blockchain technology," Journal of Business Research, Elsevier, vol. 131(C), pages 598-609.
    12. Erica Pimentel & Emilio Boulianne, 2020. "Blockchain in Accounting Research and Practice: Current Trends and Future Opportunities," Accounting Perspectives, John Wiley & Sons, vol. 19(4), pages 325-361, December.
    13. Florio, Cristina, 2024. "A structured literature review of empirical research on mandatory auditor rotation," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 55(C).
    14. Asuman Atik & Goksal Selahatdin Kelten, 2021. "Blockchain Technology and Its Potential Effects on Accounting: A Systematic Literature Review," Istanbul Business Research, Istanbul University Business School, vol. 50(2), pages 495-515, November.
    15. Leventis, Stergios & Tsalavoutas, Ioannis & Tsoligkas, Fanis, 2024. "Informal institutions in accounting research: A structured literature review," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 55(C).
    16. Ionela Corina Chersan & Valentin Florentin Dumitru & Cãtãlina Gorgan & Vasile Gorgan, 2020. "Green Public Procurement in the Academic Literature," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 22(53), pages 1-82, February.
    17. Francesco Badia & Grazia Dicuonzo & Saverio Petruzzelli & Vittorio Dell’Atti, 2019. "Integrated reporting in action: mobilizing intellectual capital to improve management and governance practices," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 23(2), pages 299-320, June.
    18. Dimes, Ruth & de Villiers, Charl, 2024. "Hallmarks of Integrated Thinking," The British Accounting Review, Elsevier, vol. 56(1).
    19. Giovanna Centorrino & Guido Noto & Daniela Rupo, 2022. "Management control in inter-firm relationships: Opportunities and challenges of blockchain technology adoption," MANAGEMENT CONTROL, FrancoAngeli Editore, vol. 2022(3), pages 65-88.
    20. Marco Bisogno & Francesca Citro & Serena Santis & Aurelio Tommasetti, 2017. "Disclosure Quality Measurement in the Public Sector: A Structured Literature Review," International Journal of Business and Management, Canadian Center of Science and Education, vol. 12(12), pages 119-119, November.

    More about this item

    Keywords

    blockchain technology; accounting profession; digital transformation;
    All these keywords.

    JEL classification:

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

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:alu:journl:v:2:y:2024:i:26:p:1. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Dan-Constantin Danuletiu (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.