Proceedings of the 2022 2nd International Conference on Economic Development and Business Culture (ICEDBC 2022)

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Research on Impact of Blockchain on Financial Audits

Authors
Xiaoguang Su1, Lei Ren1, *, Bin Wang2
1Department of Equipment Economics & Management, Naval University of Engineering, Wuhan, Hubei Province, China
2Wuhan Fund Centralized Collection and Payment Management Center, Wuhan, Hubei Province, China
*Corresponding author. Email: suxiaoguang925@163.com
Corresponding Author
Lei Ren
Available Online 31 December 2022.
DOI
10.2991/978-94-6463-036-7_21How to use a DOI?
Keywords
Blockchain; Financial audit; Impact
Abstract

The fast expansion of society and the economy has resulted in an explosion of information and data, making financial auditing more complex and laborious than ever before. The explosive growth of business data of the auditees poses significant challenges for data collection, storage, and statistical analysis of financial audits. The traditional methods and approaches of audit can no longer satisfy the needs of financial audit work. The introduction, rapid growth, steady development and widespread application of blockchain in various industries have injected momentum and impetus into traditional financial audits. The characteristics of blockchain ensure the security, integrity and traceability of audit data, hence eliminating data fraud and tampering with financial auditing. This research discussed the application of blockchain in financial audits and concluded that it can promote the improvement of financial audits in terms of audit tools, methods and approaches, thus increasing the quality and efficiency of financial audits.

Copyright
© 2022 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2022 2nd International Conference on Economic Development and Business Culture (ICEDBC 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
31 December 2022
ISBN
10.2991/978-94-6463-036-7_21
ISSN
2352-5428
DOI
10.2991/978-94-6463-036-7_21How to use a DOI?
Copyright
© 2022 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Xiaoguang Su
AU  - Lei Ren
AU  - Bin Wang
PY  - 2022
DA  - 2022/12/31
TI  - Research on Impact of Blockchain on Financial Audits
BT  - Proceedings of the 2022 2nd International Conference on Economic Development and Business Culture (ICEDBC 2022)
PB  - Atlantis Press
SP  - 140
EP  - 144
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-036-7_21
DO  - 10.2991/978-94-6463-036-7_21
ID  - Su2022
ER  -