Blockchain Applications in Accounting and Auditing: Research Trends and Future Research Implications

Abstract

Blockchain applications in accounting and auditing are crucial because they can revolutionize transparency, security, and efficiency in financial record-keeping. This paper examines the current research trends and future implications of using blockchain in accounting and auditing. This study uses scholarly articles from the Scopus database for bibliographic analysis to reveal research patterns, geographical circumstances, thematic trends, collaboration links, and findings that can shape future research and policies on blockchain's impact on accounting and auditing practices. Recently, there has been a significant increase in publications, indicating a growing interest in this field. Among countries, UK had the highest international cooperation, with substantial contributions and a steady level of engagement. Keyword trends show a growing focus on blockchain integration with big data technologies to get the organization involved in auditing and accounting. Privacy and digital technology were identified as emerging themes that need attention. Among the top sources of publications were Financial and Credit Activity: Problems of Theory and Practice and the International Journal of Digital Accounting Research. The research highlights significant challenges in adopting blockchain technology within accounting and auditing: ensuring security and security, adopting the regulatory framework and deriving the economic value and suggests integrated governance models, redesigning regulatory frameworks, and responsible technological advancements like AI to address widespread adoption of blockchain technology in accounting and auditing.