Blockchain Technology and Its Impact on Audit Efficiency

Abstract

This paper explores the transformative potential of blockchain technology within the field of auditing, focusing on its capacity to enhance efficiency, reliability, and trust in audit processes. By delving into the fundamental characteristics of blockchain—such as decentralization, immutability, transparency, and automation through smart contracts, the discussion highlights how these features can address longstanding challenges in traditional audit practices. The integration of blockchain promises to streamline audit workflows, provide real-time access to tamper-proof records, and reduce reliance on manual verification. Through examining both the theoretical foundations and practical implications, this work demonstrates that blockchain stands poised to revolutionize the future of auditing by delivering significant advancements in transparency, security, and operational effectiveness.