Blockchain-Enabled Continuous Auditing: A New Paradigm for the Accounting and Auditing Profession

Abstract

                Historically, audits take place at specific intervals and only on a sample basis. The growth of digitized financial systems is placing an increasing burden on the traditional audit process. However, blockchain technology has the ability to be revolutionary by providing real-time access to information, immutable data, and a transparent and decentralized platform for conducting continuous audits. The aim of this paper is to conduct a systematic review of all the available peer-reviewed academic literature, report on blockchain implementations within different industries, and develop conceptual models showing how blockchain applications can improve audit quality, reduce fraud risk, and provide instant verification of audit findings to stakeholders while also outlining how the adoption of continuous audit using blockchain technology will change traditional audit practices, auditor skills, and audit regulations.