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Integrating Blockchain, IoT, and XBRL in Accounting Information Systems: A Systematic Literature Review

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  • Mohamed Nofel

    (Faculty of Commerce, Kafrelsheikh University, Kafrelsheikh 33516, Egypt
    School of Business, University of Leicester, Leicester LE1 7RH, UK)

  • Mahmoud Marzouk

    (School of Business, University of Leicester, Leicester LE1 7RH, UK
    Faculty of Commerce, Menoufia University, Shebin El-Kom 32511, Egypt)

  • Hany Elbardan

    (Business School, Bournemouth University, Bournemouth BH12 5BB, UK
    Faculty of Commerce, Alexandria University, Alexandria 21526, Egypt)

  • Reda Saleh

    (Faculty of Commerce, Kafrelsheikh University, Kafrelsheikh 33516, Egypt)

  • Aly Mogahed

    (Faculty of Commerce, Kafrelsheikh University, Kafrelsheikh 33516, Egypt)

Abstract

Over the last few decades, remarkable technical advancements, including artificial intelligence, machine learning, big data, blockchain, cloud computing, and the Internet of Things, have emerged. These tools have the ability to change the accounting process. This study aims to conduct a systematic literature review on using the Internet of Things (IoT), blockchain, and eXtensible Business Reporting Language (XBRL) in a single accounting information system (AIS) to enhance the quality of digital financial reports. This paper employs a systematic literature review (SLR) methodology, specifically, by adopting the widely accepted PRISMA technique. The final sample of this study included 309 related studies from 2013 to 2023. Our findings highlight the lack of literature related to the integration of these three types of technologies within a unified AIS. This study is extremely significant because it proposes a new research stream that explores the possibility of integrating IoT, blockchain, and XBRL in a single accounting system, yielding a plethora of benefits to the accounting field. However, the potential benefits of such an integration are evident, including enhanced transparency, real-time reporting capabilities, and improved data security. Our paper’s main contribution is that it is the first paper, to the best of our knowledge, to explore the integration of these three technologies. We also identified important gaps in the research and pointed out ways for future research to somehow take a lead in exploring further how this integrated system is affecting accounting practices.

Suggested Citation

  • Mohamed Nofel & Mahmoud Marzouk & Hany Elbardan & Reda Saleh & Aly Mogahed, 2024. "Integrating Blockchain, IoT, and XBRL in Accounting Information Systems: A Systematic Literature Review," JRFM, MDPI, vol. 17(8), pages 1-32, August.
    • Handle: RePEc:gam:jjrfmx:v:17:y:2024:i:8:p:372-:d:1459191
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    References listed on IDEAS

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    1. Simone Pizzi & Andrea Caputo & Andrea Venturelli & Fabio Caputo, 2022. "Embedding and managing blockchain in sustainability reporting: a practical framework," Sustainability Accounting, Management and Policy Journal, Emerald Group Publishing Limited, vol. 13(3), pages 545-567, February.
    2. Xiongyuan Wang & Luofan Bu & Xuan Peng, 2021. "Internet of things adoption, earnings management, and resource allocation efficiency," China Journal of Accounting Studies, Taylor & Francis Journals, vol. 9(3), pages 333-359, July.
    3. Mainelli, Michael & Smith, Mike, 2015. "Sharing ledgers for sharing economies: an exploration of mutual distributed ledgers (aka blockchain technology)," Journal of Financial Perspectives, EY Global FS Institute, vol. 3(3), pages 38-58.
    4. Palmaccio, Matteo & Dicuonzo, Grazia & Belyaeva, Zhanna S., 2021. "The internet of things and corporate business models: A systematic literature review," Journal of Business Research, Elsevier, vol. 131(C), pages 610-618.
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