Tomorrow’s Accountant: Essential Skills Needed for Blockchain Accounting and Impact on Auditor

Abstract

In a continuously changing technology era, it is imperative for the accountants to work on their existing skills and become market and technology ready. Blockchain technology nascent, now being used in the field of accounting and auditing also. This article attempts to explore opinion of professionals and academicians regarding necessary skills to work in blockchain technology environment and what changes would occur in auditors’ functions. The respondents agreed that they have to develop their skills regarding consensus mechanism, smart contract, legal provisions, TEA etc. They further agreed that blockchain technology would change the auditors’ function from basic accounting and auditing to auditing of smart contracts, reliability of consensus protocol and evaluation of digital assets and liabilities.