B.S. (Bachelor of Science)
Department of Accountancy
Blockchain technology is a disruptive technological advancement allowing communication to extend beyond company enterprise resource systems with their stakeholders. Blockchain is currently the exchange platform of cryptocurrency transactions, and businesses are beginning to experiment with proof of concept designs for transactions. The objective of this study is to determine the potential impact of blockchain implementation on businesses and auditors. The study concludes with how auditors and current students are preparing for this drastic transition to automated auditing and fully electronic communication with external business shareholders. Exploratory, qualitative research was performed to gain an understanding of blockchain technology and impacts of its integration. Accountancy journals and firm whitepapers were reviewed to form a base understanding of the technology. Three accounting professionals and two academic professionals were interviewed to gain an insight to the future uses and operating practices of blockchain. Blockchain is predicted to engulf industries and revolutionize business transactions within the next five years. Accounting firms are beginning to experiment and train staff on the technology, and businesses are seeking ways of integrating blockchain into their existing business practices. There are no current global standards for the use of blockchain, which will allow for rapid software innovation and adaptability.
Kuhn, Brandon D., "The Impact of Blockchain Technology on Business, Financial Auditors, and Accounting Professionals" (2018). Honors Capstones. 1196.
Northern Illinois University
Rights Statement 2
NIU theses are protected by copyright. They may be viewed from Huskie Commons for any purpose, but reproduction or distribution in any format is prohibited without the written permission of the authors.