Blockchain-technology in accounting and audit

Abstract

The purpose of the article is to study the process of digitization, in particular the use of Blockchain technology in accounting and auditing in modern business conditions. The methodology consists in the use of the following methods: dialectical, statistical, structural-analytical, method of observation, methods of analysis and synthesis, induction and deduction, modeling, method of generalization. The scientific novelty of the work is to improve the process of digitization of accounting and auditing and the formation of the algorithm Blockchain-technology, which will significantly reduce errors due to the human factor, reduce accounting costs, reduce the likelihood of falsification of records. Conclusions. In the conditions of globalization the high level of digitalization of world economic space acquires importance. Digitalization of business processes ensures stable development and achievement of strategic goals of enterprises and organizations of Ukraine. The use of modern information technology involves significant changes in the principles of management, external and internal communications, the processes of obtaining, processing and storing data on activities, the formation of new types and methods of accounting and auditing. The concept of Blockchain technology has been studied - a decentralized electronic database that can store and verify information, as well as set rules for updating this information in real time. The use of Blockchain technology in accounting and auditing involves the creation of records and recording the time of their creation, so all data will remain forever and unchanged. The basic principles of application of Blockchain technology in accounting and auditing are considered. Public and private Blockchain technologies are characterized. Promising areas of application of the Blockchain technology in accounting are identified. An algorithm for the application of Blockchain technology in accounting is proposed. The advantages and disadvantages of using Blockchain technology in accounting and auditing are highlighted. The main advantages of using Blockchain technology in accounting and auditing are the inability to falsify the transaction, which is already formed in Blockchain technology, access of all system participants to transaction information, reducing the cost of processing and storing information. That is why it is important to use Blockchain technology in accounting and auditing. Key words: accounting, audit; digitalization, business process, information technology, blockchain technologies.