A Conceptual Model of Continuous Government Auditing Using Blockchain-Based Smart Contracts

Eid M. Alotaibi

International Journal of Business and Management, 2023, vol. 17, issue 11, 1

Abstract: This study examines how blockchain-based smart contracts for government financial and nonfinancial events can enable the real-time, continuous auditing of integrated data and provide government auditors with a higher level of transparency. The proposed model uses a combination of blockchain technology and a continuous auditing methodology that may improve the auditing effectiveness and efficiency of governmental agencies. This study’s approach comprises three steps. First, we describe the current governmental auditing practices and the core concepts and features of the blockchain. Second, we discuss the payment process used by government agencies. Third, we examine the implementation of a blockchain-based smart-contracts framework for government auditing using the government procurement process.

Date: 2023
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