Blockchain in accounting research: current trends and emerging topics

Tatiana Garanina, Mikko Ranta and John Dumay
Authors registered in the RePEc Author Service: Tatiana King

Accounting, Auditing & Accountability Journal, 2021, vol. 35, issue 7, 1507-1533

Abstract: Purpose - This paper provides a structured literature review of blockchain in accounting. The authors identify current trends, analyse and critique the key topics of research and discuss the future of this nascent field of inquiry. Design/methodology/approach - This study’s analysis combined a structured literature review with citation analysis, topic modelling using a machine learning approach and a manual review of selected articles. The corpus comprised 153 academic papers from two ranked journal lists, the Association of Business Schools (ABS) and the Australian Business Deans Council (ABDC), and from the Social Science Research Network (SSRN). From this, the authors analysed and critiqued the current and future research trends in the four most predominant topics of research in blockchain for accounting. Findings - Blockchain is not yet a mainstream accounting topic, and most of the current literature is normative. The four most commonly discussed areas of blockchain include the changing role of accountants; new challenges for auditors; opportunities and challenges of blockchain technology application; and the regulation of cryptoassets. While blockchain will likely be disruptive to accounting and auditing, there will still be a need for these roles. With the sheer volume of information that blockchain records, both professions may shift out of the back-office toward higher-profile advisory roles where accountants try to align competitive intelligence with business strategy, and auditors are called onex anteto verify transactions and even whole ecosystems. Research limitations/implications - The authors identify several challenges that will need to be examined in future research. Challenges include skilling up for a new paradigm, the logistical issues associated with managing and monitoring multiple parties all contributing to various public and private blockchains, and the pressing need for legal frameworks to regulate cryptoassets. Practical implications - The possibilities that blockchain brings to information disclosure, fraud detection and overcoming the threat of shadow dealings in developing countries all contribute to the importance of further investigation into blockchain in accounting. Originality/value - The authors’ structured literature review uniquely identifies critical research topics for developing future research directions related to blockchain in accounting.

Keywords: Blockchain; Accounting; Literature review; Machine-learning approach; Future trends (search for similar items in EconPapers)
Date: 2021
References: Add references at CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
https://www.emerald.com/insight/content/doi/10.110 ... d&utm_campaign=repec (text/html)
https://www.emerald.com/insight/content/doi/10.110 ... d&utm_campaign=repec (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eme:aaajpp:aaaj-10-2020-4991

DOI: 10.1108/AAAJ-10-2020-4991

Access Statistics for this article

Accounting, Auditing & Accountability Journal is currently edited by Prof James Guthrie and Prof Lee Parker

More articles in Accounting, Auditing & Accountability Journal from Emerald Group Publishing Limited
Bibliographic data for series maintained by Emerald Support ().