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A Conceptual Model of Continuous Government Auditing Using Blockchain-Based Smart Contracts

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  • Eid M. Alotaibi

Abstract

This study examines how blockchain-based smart contracts for government financial and nonfinancial events can enable the real-time, continuous auditing of integrated data and provide government auditors with a higher level of transparency. The proposed model uses a combination of blockchain technology and a continuous auditing methodology that may improve the auditing effectiveness and efficiency of governmental agencies. This study’s approach comprises three steps. First, we describe the current governmental auditing practices and the core concepts and features of the blockchain. Second, we discuss the payment process used by government agencies. Third, we examine the implementation of a blockchain-based smart-contracts framework for government auditing using the government procurement process.

Suggested Citation

  • Eid M. Alotaibi, 2023. "A Conceptual Model of Continuous Government Auditing Using Blockchain-Based Smart Contracts," International Journal of Business and Management, Canadian Center of Science and Education, vol. 17(11), pages 1-1, February.
    • Handle: RePEc:ibn:ijbmjn:v:17:y:2023:i:11:p:1
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    References listed on IDEAS

    as
    1. Vasarhelyi, Miklos A. & Alles, Michael & Kuenkaikaew, Siripan & Littley, James, 2012. "The acceptance and adoption of continuous auditing by internal auditors: A micro analysis," International Journal of Accounting Information Systems, Elsevier, vol. 13(3), pages 267-281.
    2. Chan, David Y. & Vasarhelyi, Miklos A., 2011. "Innovation and practice of continuous auditing," International Journal of Accounting Information Systems, Elsevier, vol. 12(2), pages 152-160.
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    More about this item

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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