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Title: Blockchain in auditing : an in-depth analysis of the benefits and implications that blockchain offers in this space
Authors: Abela, Luke
Keywords: Blockchains (Databases) -- Malta
Cryptocurrencies -- Malta
Auditing -- Malta
Issue Date: 2019
Citation: Abela, L. (2019). Blockchain in auditing : an in-depth analysis of the benefits and implications that blockchain offers in this space (Bachelor's dissertation).
Abstract: Blockchain is a decentralised peer-to-peer system that has no central authority controlling it, serving as a digital ledger which stores transactions in a continuous stream of blocks. Due to the interlinking of these blocks, data is immutable, traceable and publicly available. The main reason behind the creation of blockchain is to remove the middleman from transactions. Currently entities such as a bank serve as that middleman, however with the introduction of blockchain two users can anonymously and securely transfer funds between each other. Auditing is the process of verifying the accounting books of an organisation, conducted by a person or entity which is independent of the organisation being audited. This study focuses on the implementation of blockchain technology in the auditing sector, namely the auditing of crypto currencies and blockchain as an internal auditing system. The aim of this research is to obtain an in-depth analysis on the benefits and implications of blockchain in relation to the auditing sector, whilst determining key enablers and inhibitors towards its adoption in the Maltese financial industry. The objectives of this research were met through six semi-structured in-depth interviews with participants which share common characteristics such as their auditing background, their interest in blockchain and some or extensive technical knowledge in terms of blockchain technology. Blockchain technology has proven to be applicable to the auditing industry, however there is still a lot to be done in order to ensure a positive and smooth implementation. Further efforts need to be made to ensure a strong blockchain oriented work force as currently there is a lack of it, resulting in major issues experienced by several auditing firms. The Maltese government must also keep pushing blockchain forward whilst ensuring that all the necessary regulations are set to address the safety of blockchain to thrive in the Maltese economy.
Description: B.SC.(HONS)BUS.&I.T.
Appears in Collections:Dissertations - FacEma - 2019
Dissertations - FacEMAMAn - 2019

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