Importance Of Blockchain Within The Big 4 CPA Firms: Cryptocurrency'S Existence

Abstract

The development of technology has been growing rapidly in the current state of time. With that being said, blockchain is one of the important pillars that is currently revolutionizing the traditional way of life. It is a new system that brings not only more efficiency, but also more challenges to be faced as well to many fields, including accounting and audit as one of them. Our research is going to discuss how blockchain is going to create multiple breakthroughs in accounting and audit field, bringing not only potential benefits and efficiencies, but also new challenges that must be addressed, including how cryptocurrency is handled in terms of accounting and audit, as it is recognized as one of the most popular uses of blockchain technology worldwide. The selection of Big 4 CPA firms is based on the evidence shown by those leading accounting firms in terms of adopting blockchain technology in their way of work and how they approach the technology innovation. This is shown by their interest on the matter which is published on their own respective websites. Our research used a descriptive qualitative approach, obtaining secondary data from papers, journals, books, and relevant websites.