Critical Auditors’ Expertise for Blockchain-Based Business Environment

Tušek Boris, Ježovita Ana and Halar Petra
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Tušek Boris: Faculty of Economics and Business, University of Zagreb, Trg J. F. Kennedy 6, 10000 Zagreb, Croatia.
Ježovita Ana: Faculty of Economics and Business, University of Zagreb, Trg J. F. Kennedy 6, 10000 Zagreb, Croatia.
Halar Petra: Faculty of Economics and Business, University of Zagreb, Trg J. F. Kennedy 6, 10000 Zagreb, Croatia.

Zagreb International Review of Economics and Business, 2021, vol. 24, issue s1, 49-61

Abstract: The future of work of both external and internal auditors is exciting and promising, as well as, in the same time, threatening and extremely demanding. The exciting and promising part is connected with lots of possibilities for auditors’ professional career developments and specialization, while the threatening and demanding part is directed towards the ongoing demand and need for continuous education and upgrading their knowledge base and skill sets in order to be able to stay up to date with all developments and changes in their and their clients’ internal and external surroundings. Today these surroundings are characterized by big data and usage of information and communication technologies (ICTs), among which the blockchain technology (BCT) is described as the most pervasive and promising one. This paper is primarily driven by the scarcity of literature and conducted scientific researches regarding the specialized educations and expertise that auditors need to attend and possess in order to be able to exist in the blockchain-based business environment. Therefore, the main research objective of this paper was to determine critical external and internal auditors’ expertise that they need to possess in order to be relevant and successful in the blockchain-based business environment. In order to achieve this main objective, desk research and survey research were conducted. Survey research was conducted on a sample of external and internal auditors in Croatia. In general, results of the empirical research showed that both external and internal auditors in Croatia think that they need to possess high level of expertise in advanced analytical procedures (APs) in order to be able to audit blockchain-based business operations. Consequently, this then instantaneously increases auditors’ demand for specialized education in fields of BCT, APs, and data analytics (DAs) in general.

Keywords: external auditors; internal auditors; blockchain technology; analytical procedures; data analytics (search for similar items in EconPapers)
JEL-codes: M42 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:zirebs:v:24:y:2021:i:s1:p:49-61:n:1003

DOI: 10.2478/zireb-2021-0019

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