Antecedents and outcomes of innovative blockchain usage in accounting and auditing profession: an extended UTAUT model

Abstract

Purpose

This article aims to extend the Unified Theory of Acceptance and Use of Technology (UTAUT) model to understand the factors affecting the usage behavior of Blockchain from accountants' and auditors’ perspectives and its impact on their performance.

Design/methodology/approach

A quantitative research approach employing a web-based questionnaire was applied, and the empirical data were gathered from 329 potential and current users of Blockchain in the accounting and auditing profession in Jordan. The analytical model was based on structural equation modeling (SEM) using AMOS 25.0.

Findings

The experimental findings of the structural path confirmed that performance expectancy (PE), social influence (SI), Blockchain transparency (BT) and Blockchain efficiency (BE) were significantly affecting individuals’ behavioral intention (BI) toward the use of Blockchain-based systems and helped to explain (0.67) of its variance. Also, BE has a positive significant impact on PE. Whereas, in contrast to what is anticipated, the influence of effort expectancy (EE) on BI was not supported. Additionally, users’ intentions were found to affect the actual usage (AU) behavior and helped to explain (0.69) of its variance. The outcome variables proposed in this study: knowledge acquisition (KACQ) and user satisfaction (USAT) were significantly influenced by the AU of Blockchain technology.

Practical implications

This study outlines practical implications for government, policymakers, business leaders and Blockchain service providers aiming to exploit the advantages of Blockchain technology (BCT) in the accounting and auditing context.

Originality/value

To the best of the authors’ knowledge, this article is one of the few studies that offer an evidence-based perspective to the discussions on the effect of disruptive and automated information and communication technologies (ICTs), on the accounting and auditing profession. It applies an innovative approach to analysis through the integration of UTAUT, contextual factors: BT and BE, besides two outcome factors: KACQ and USAT within its theoretical model. This study extends and complements the academic literature on information technology/information systems acceptance and use by providing novel insights into accountants' and auditors’ views.