Review of Previous Research on Blockchain Adoption in Accounting with Examination of Organizational Decision-Making Factors
Keywords:
Blockchain, Accounting, Auditing, Transparency, Efficiency, Risk Management, Digital TransformationAbstract
The objective of this study is to explore the opportunities, challenges, and transformative implications of blockchain adoption in accounting and auditing, with a focus on identifying key factors that shape organizational decision-making. This research employed a qualitative design using structured content analysis. Data collection was conducted through the Critical Appraisal Skills Programme (CASP) method to ensure quality and relevance of sources. An initial pool of 42 articles was identified through academic databases, from which 15 sources were selected following CASP evaluation. These sources included empirical studies, conceptual articles, and case analyses on blockchain applications in accounting and auditing. The data were analyzed through open coding, categorization, and thematic abstraction, resulting in a set of emergent themes reflecting the role of blockchain in financial transparency, efficiency, risk management, and organizational transformation. The analysis revealed five overarching themes: (1) blockchain enhances financial transparency and reliability by ensuring immutability and reducing information asymmetry; (2) blockchain improves efficiency in accounting and auditing through real-time data access, smart contract automation, and reduced transaction costs; (3) blockchain strengthens risk management and internal control by facilitating continuous auditing and fraud detection; (4) adoption challenges remain significant, including high costs, scalability limitations, lack of interoperability, and regulatory uncertainty; and (5) blockchain serves as a driver of strategic transformation, enabling innovation, cross-industry collaboration, and alignment with digital economy demands. The study concludes that blockchain represents both a disruptive innovation and a strategic opportunity for accounting and auditing. While its capacity to enhance transparency, efficiency, and trust is widely recognized, adoption is constrained by technological and institutional barriers. Successful integration requires coordinated efforts involving technological readiness, regulatory frameworks, and organizational adaptation.
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Copyright (c) 2025 Hossein Mijani (Author); Abbas Sheibani Tazarji; Mohammad Reza Khazripour (Author)
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