IDEAS home Printed from https://ideas.repec.org/a/vrs/zirebs/v24y2021is1p49-61n1003.html
   My bibliography  Save this article

Critical Auditors’ Expertise for Blockchain-Based Business Environment

Author

Listed:
  • Tušek Boris

    (Faculty of Economics and Business, University of Zagreb, Trg J. F. Kennedy 6, 10000 Zagreb, Croatia.)

  • Ježovita Ana

    (Faculty of Economics and Business, University of Zagreb, Trg J. F. Kennedy 6, 10000 Zagreb, Croatia.)

  • Halar Petra

    (Faculty of Economics and Business, University of Zagreb, Trg J. F. Kennedy 6, 10000 Zagreb, Croatia.)

Abstract

The future of work of both external and internal auditors is exciting and promising, as well as, in the same time, threatening and extremely demanding. The exciting and promising part is connected with lots of possibilities for auditors’ professional career developments and specialization, while the threatening and demanding part is directed towards the ongoing demand and need for continuous education and upgrading their knowledge base and skill sets in order to be able to stay up to date with all developments and changes in their and their clients’ internal and external surroundings. Today these surroundings are characterized by big data and usage of information and communication technologies (ICTs), among which the blockchain technology (BCT) is described as the most pervasive and promising one. This paper is primarily driven by the scarcity of literature and conducted scientific researches regarding the specialized educations and expertise that auditors need to attend and possess in order to be able to exist in the blockchain-based business environment. Therefore, the main research objective of this paper was to determine critical external and internal auditors’ expertise that they need to possess in order to be relevant and successful in the blockchain-based business environment. In order to achieve this main objective, desk research and survey research were conducted. Survey research was conducted on a sample of external and internal auditors in Croatia. In general, results of the empirical research showed that both external and internal auditors in Croatia think that they need to possess high level of expertise in advanced analytical procedures (APs) in order to be able to audit blockchain-based business operations. Consequently, this then instantaneously increases auditors’ demand for specialized education in fields of BCT, APs, and data analytics (DAs) in general.

Suggested Citation

  • Tušek Boris & Ježovita Ana & Halar Petra, 2021. "Critical Auditors’ Expertise for Blockchain-Based Business Environment," Zagreb International Review of Economics and Business, Sciendo, vol. 24(s1), pages 49-61.
    • Handle: RePEc:vrs:zirebs:v:24:y:2021:i:s1:p:49-61:n:1003
    DOI: 10.2478/zireb-2021-0019
    as

    Download full text from publisher

    File URL: https://doi.org/10.2478/zireb-2021-0019
    Download Restriction: no
    File URL: https://libkey.io/10.2478/zireb-2021-0019?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. 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)

    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. Dehghani, Milad & William Kennedy, Ryan & Mashatan, Atefeh & Rese, Alexandra & Karavidas, Dionysios, 2022. "High interest, low adoption. A mixed-method investigation into the factors influencing organisational adoption of blockchain technology," Journal of Business Research, Elsevier, vol. 149(C), pages 393-411.
    2. Kocsis, David, 2019. "A conceptual foundation of design and implementation research in accounting information systems," International Journal of Accounting Information Systems, Elsevier, vol. 34(C), pages 1-1.
    3. Sam M. Werner & Daniel Perez & Lewis Gudgeon & Ariah Klages-Mundt & Dominik Harz & William J. Knottenbelt, 2021. "SoK: Decentralized Finance (DeFi)," Papers 2101.08778, arXiv.org, revised Sep 2022.
    4. Monica Ramos Montesdeoca & Agustín J. Sánchez Medina & Felix Blázquez Santana, 2019. "Research Topics in Accounting Fraud in the 21st Century: A State of the Art," Sustainability, MDPI, vol. 11(6), pages 1-31, March.
    5. Helmi Hentati & Neila Boulila Taktak, 2023. "Unlocking Technological Capabilities to Boost the Performance of Accounting Firms," Journal of Accounting and Management Information Systems, Faculty of Accounting and Management Information Systems, The Bucharest University of Economic Studies, vol. 22(4), pages 631-656, December.
    6. Eleonora P. Stancheva-Todorova, 2020. "Blockchain Applications In The Accounting Domain," Economy & Business Journal, International Scientific Publications, Bulgaria, vol. 14(1), pages 183-201.
    7. Chih-Hung Wu & Chien-Yu Liu & Ting-Sheng Weng, 2023. "Critical Factors and Trends in NFT Technology Innovations," Sustainability, MDPI, vol. 15(9), pages 1-25, May.
    8. Yangheran Piao & Kai Ye & Xiaohui Cui, 2021. "A Data Sharing Scheme for GDPR-Compliance Based on Consortium Blockchain," Future Internet, MDPI, vol. 13(8), pages 1-17, August.
    9. Emilio Abad-Segura & Alfonso Infante-Moro & Mariana-Daniela González-Zamar & Eloy López-Meneses, 2021. "Blockchain Technology for Secure Accounting Management: Research Trends Analysis," Mathematics, MDPI, vol. 9(14), pages 1-26, July.
    10. 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).
    11. 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.
    12. 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.
    13. Tatiana Garanina & Henri Hussinki & Johannes Dumay, 2021. "Accounting for intangibles and intellectual capital: a literature review from 2000 to 2020," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 61(4), pages 5111-5140, December.
    14. 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).
    15. Juan Ignacio Ibañez & Chris N. Bayer & Paolo Tasca & Jiahua Xu, 2023. "REA, Triple-Entry Accounting and Blockchain: Converging Paths to Shared Ledger Systems," JRFM, MDPI, vol. 16(9), pages 1-20, August.
    16. Muhammad Saad & Muhammad Khalid Khan & Maaz Bin Ahmad, 2022. "Blockchain-Enabled Vehicular Ad Hoc Networks: A Systematic Literature Review," Sustainability, MDPI, vol. 14(7), pages 1-31, March.
    17. Søgaard, Jonas Sveistrup, 2021. "A blockchain-enabled platform for VAT settlement," International Journal of Accounting Information Systems, Elsevier, vol. 40(C).
    18. Ameni Boumaiza, 2024. "A Blockchain-Based Scalability Solution with Microgrids Peer-to-Peer Trade," Energies, MDPI, vol. 17(4), pages 1-18, February.
    19. Nataliia Pochynok & Volodymyr Muravskyi & Volodymyr Farion, 2021. "Implementation of electronic communications in accounting of public procurement," Technology audit and production reserves, Socionet;Technology audit and production reserves, vol. 4(4(60)), pages 6-10.
    20. 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.

    More about this item

    Keywords

    external auditors; internal auditors; blockchain technology; analytical procedures; data analytics;
    All these keywords.

    JEL classification:

    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing

    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:vrs:zirebs:v:24:y:2021:i:s1:p:49-61:n:1003. 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: Peter Golla (email available below). General contact details of provider: https://www.sciendo.com .

    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.