ACCOUNTING AND AUDITING WITH BLOCK CHAIN TECHNOLOGY AND ARTIFICIAL INTELLIGENCE – AN EMPIRICAL STUDY

Abstract

This paper reviews published research on how blockchain technology can affect accounting and AI-enabled auditing, focusing on the characteristics of blockchain data such as immutability, append-only, shared, verified, and agreed-upon. The study identifies four subjects related to how blockchain has changed record-keeping in accounting, including event-based accounting, real- time data collection, accounting with three entries, and ongoing auditing. The findings suggest that blockchain can reduce information asymmetry and enhance stakeholder collaboration, but caution businesses about the challenges of adoption. The paper recommends future research to improve business practices and encourage collaboration among stakeholders to create suitable blockchain ecosystems for accounting and auditing in the digital age.