IMPACT OF BLOCKCHAIN TECHNOLOGY ON THE CONTINUOUS AUDITING: MEDIATING ROLE OF TRANSACTION COST THEORY

Abstract

Blockchain is one of the most significant emerging technologies today. Anecdotal evidence suggested that blockchain technology will transform auditing by enabling continuous auditing. However, there is little empirical knowledge of the blockchain implications on the audit profession. The objective of this paper is to explore, through the lens of transaction costs theory, the impact of blockchain technology on the continuous auditing. A proposed research model will be tested using survey data that will be collected from audit firms. The collected data will be processed using R statistical software that is appropriate to data analytics. The expected results should indicate that auditors still need to use professional judgment and gather evidence for assertions factors that blockchain technology does not address. Furthermore, regardless of the role they might choose to fulfill, auditors must keep up to date with the technology if they are to stay in-demand in the world of blockchain.