When auditing Meets Blockchain: A study on applying blockchain smart contracts in auditing

IF 4.1 3区管理学 Q2 BUSINESS International Journal of Accounting Information Systems Pub Date : 2025-01-22 DOI:10.1016/j.accinf.2025.100730

Xiaoli Guo , Yanjun Zuo , Dong Li

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Abstract

Blockchain’s decentralized characteristics have posed unique challenges and unlocked novel opportunities for the accounting and auditing sector. While the potential impact of blockchain and smart contracts on auditing has been raised, comprehensive studies remain scarce. Using the Solidity language, this study explores the viability of encoding into smart contracts specific auditing rules that can automatically identify suspicious transactions in common fraud schemes. To illustrate the feasibility, it presents a proof-of-concept framework encompassing system architecture, smart contract development, and workflow procedures. Simulation results demonstrate that blockchain-based smart contract approach in this study can effectively identify problematic transactions in near real-time. Consequently, this could help auditors to allocate audit resources to focus efforts on higher risk transactions. The findings provide implications for future studies on the application of smart contracts in auditing.

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来源期刊

International Journal of Accounting Information Systems Multiple-

CiteScore

9.00

自引率

6.50%

发文量

期刊介绍： The International Journal of Accounting Information Systems will publish thoughtful, well developed articles that examine the rapidly evolving relationship between accounting and information technology. Articles may range from empirical to analytical, from practice-based to the development of new techniques, but must be related to problems facing the integration of accounting and information technology. The journal will address (but will not limit itself to) the following specific issues: control and auditability of information systems; management of information technology; artificial intelligence research in accounting; development issues in accounting and information systems; human factors issues related to information technology; development of theories related to information technology; methodological issues in information technology research; information systems validation; human–computer interaction research in accounting information systems. The journal welcomes and encourages articles from both practitioners and academicians.