Blockchain and the Evolving Internal Audit Function
- Title
- Blockchain and the Evolving Internal Audit Function
- Creator
- Manuel A.; Arumugam S.K.
- Description
- Blockchain Technology indicates a transformative era for internal audit practices in the evolving digital finance and operations landscape. This research explores the internal audit function in a Blockchain-driven world, emphasizing the changing perspectives and methodologies necessitated by this disruptive technology. With its foundational principles of transparency, immutability, and decentralization, Blockchain presents challenges and opportunities for internal auditors. The paper delves into how Blockchain is poised to redefine traditional audit practices, moving towards more real-time and continuous auditing techniques. It examines the implications of Blockchain for risk assessment, fraud detection, and compliance, highlighting the shift towards proactive rather than reactive audit strategies. Furthermore, the research examines Blockchains opportunities and challenges to the internal audit function. This study provides insights into integrating Blockchain Technology in internal auditing through a comprehensive secondary data analysis. It proposes a roadmap for auditors to adapt and thrive in this new era. The findings underscore the importance of embracing technological advancements, advocating for a dynamic approach to audit practices that aligns with the complexities of a blockchain-driven world. The Author(s), under exclusive license to Springer Nature Switzerland AG 2025.
- Source
- Studies in Systems, Decision and Control, Vol-555, pp. 1209-1215.
- Date
- 2025-01-01
- Publisher
- Springer Science and Business Media Deutschland GmbH
- Subject
- Audit practices; Blockchain technology; Internal audit; Risk management; Smart contract
- Coverage
- Manuel A., School of Commerce, Finance and Accountancy, Christ University, Karnataka, Banglore, 560 029, India; Arumugam S.K., School of Commerce, Finance and Accountancy, Christ University, Karnataka, Banglore, 560 029, India
- Rights
- Restricted Access
- Relation
- ISSN: 21984182
- Format
- Online
- Language
- English
- Type
- Book chapter
Collection
Citation
Manuel A.; Arumugam S.K., “Blockchain and the Evolving Internal Audit Function,” CHRIST (Deemed To Be University) Institutional Repository, accessed February 23, 2025, https://archives.christuniversity.in/items/show/17502.