Would Blockchain Disrupt the Accounting and Auditing Professions? An Exploratory Study in the UAE

Hareb Abdulla (), Abdulla Alfalasi () and Rihab Grassa
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Hareb Abdulla: Higher Colleges of Technology
Abdulla Alfalasi: Higher Colleges of Technology

A chapter in Contemporary Research in Accounting and Finance, 2022, pp 295-310 from Springer

Abstract: Abstract The accounting and auditing profession look to be in the middle of a technological transformation. The continuing increasing stakeholder demands for information, the increasing digitalizing of data, and the integration of technology into accounting procedures are giving a new shape to the profession. Nowadays, with the development of the blockchain, an additional change is imposed on the accounting landscape. This will have a potential effect on the audit and attestation profession. Blockchain technology offers a radically new way to record, process, and store business transactions and information and, more importantly, has the potential to fundamentally change the landscape of business ecosystems and reshape the accounting and auditing profession. In this research paper, we explore the opportunities and challenges of the new technology on the United Arab Emirates’ (UAE) accounting and auditing profession.

Keywords: Accounting; Auditing; Blockchain; UAE; Distributed ledger technology; Internal control (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-16-8267-4_13

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DOI: 10.1007/978-981-16-8267-4_13

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