BLOCKCHAIN TECHNOLOGY AND ITS IMPACT ON AUDIT PROFESSION

Abstract

This paper presents blockchain technology in simplest form with its impact on audit profession. The paper
outputs the basic terms and technologies used in blockchain and explains how it would be game changer for
audit processes and how it can be used beyond cryptocurrencies. The aim of undertaking this study is to explore
ways of conducting audit processes in blockchain environment. As blockchain rises beyond being just another
buzz-word, what impact will this technology, described by many as a cultural paradigm shift, have on the
tradition audit and assurance process?