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

Authors

  • Shilpa Lodha Assistant Professor, University College of Commerce and Management Studies, Mohanlal Sukhadia University, Udaipur
  • Shurveer Singh Bhanawat Head, Department of Accountancy and Business Statistics, Mohanlal Sukhadia University, Udaipur

DOI:

https://doi.org/10.33516/maj.v58i6.17-21p

Keywords:

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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.

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Published

2023-06-01

How to Cite

Lodha, S., & Singh Bhanawat, S. (2023). Tomorrow’s Accountant: Essential Skills Needed for Blockchain Accounting and Impact on Auditor. The Management Accountant Journal, 58(6), 17–21. https://doi.org/10.33516/maj.v58i6.17-21p

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Cover Story

References

Chowdhury, E. K. (2021). Financial accounting in the era of blockchain- A paradigm shift from double entry to triple entry system. doi:https://dx.doi.org/10.2139/ssrn.3827591

Pimentel, E. &Boulianne, E. (2020). Blockchain in accounting research and practice: Current trends and future opportunities. Special Issue: Blockchain and Cryptoasssets, 19 (4), 325-361.

Rehab Esam El Din Ragheb Hashem, Al-Rifai Ibrahim Mubarak & Ahmad Abd EI-Salam Abu-Musa (2023). The impact of blockchain technology on audit process quality: An empirical study on the banking sector. International Journal of Auditing and Accounting Studies. 5(1), 87-118.

Timor-Tudor, A. & D. Deliu, Farcane, N. & Dontu,A. (2021). Managing change with and through blockchain in accountancy organizations: A systematic literature review. Journal of Organizational Change Management 34(2):477-506.

Zheng, R. (2021). Applications research of blockchain technology in accounting system. Journal of Physics Conference Series 1955(1):012068.

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