BLOCKCHAIN TECHNOLOGY AND ITS IMPACT ON AUDIT PRACTICES: OPPORTUNITIES AND CHALLENGES

Andri Trisnawati, Edi Heriyanto, Finta Rizki, Mainsyah Putra, Widia Astuty

Abstract


Blockchain technology has emerged as an innovation capable of bringing significant changes to auditing practices. With features such as transparency, security, and automation, blockchain has the potential to enhance efficiency, accuracy, and trust in audit processes. It enables immutable transaction recording and real-time data validation, reducing the risks of data manipulation and human errors. This study aims to analyze the opportunities offered by blockchain to improve audit quality and identify key challenges, including the need for new competencies, high implementation costs, and immature regulations. The research methods include literature review, case studies of organizations that have adopted blockchain, interviews with experts in auditing and technology, and SWOT analysis to evaluate the strengths, weaknesses, opportunities, and threats of blockchain implementation. The findings indicate that blockchain can enhance audit reliability through data transparency and process automation using smart contracts. However, challenges such as limited technical skills among auditors, high initial costs, and unclear regulations need to be addressed. The study concludes that training strategies, regulatory development, and gradual implementation can help organizations effectively leverage blockchain to strengthen the integrity and efficiency of audits

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DOI: https://doi.org/10.3059/insis.v0i0.23643

DOI (PDF): https://doi.org/10.3059/insis.v0i0.23643.g12983

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