title: Blockchain technology: Disruptor or enhancer to the accounting and auditing profession

authors: Oladejo, Musbaudeen Titilope

subjects: Blockchain Technology

abstract: The unique features of blockchain technology (BCT) - peer-to-peer network, distribution ledger, consensus decision-making, transparency, immutability, auditability, and cryptographic security - coupled with the success enjoyed by Bitcoin and other cryptocurrencies have encouraged many to assume that the technology would revolutionise virtually all aspects of business. A growing body of scholarship suggests that BCT would disrupt the accounting and auditing fields by changing accounting practices, disintermediating auditors, and eliminating financial fraud. BCT disrupts audits (Lombard et al.,2021), reduces the role of audit firms (Yermack 2017), undermines accountants' roles with software developers and miners (Fortin & Pimentel 2022); eliminates many management functions, transforms businesses (Tapscott & Tapscott, 2017), facilitates a triple-entry accounting system (Cai, 2021), and prevents fraudulent transactions (Dai, et al., 2017; Rakshit et al., 2022). Despite these speculations, scholars have acknowledged that the application of BCT in the accounting and assurance industry is underexplored and many existing studies are said to lack engagement with practitioners (Dai & Vasarhelyi, 2017; Lombardi et al., 2021; Schmitz & Leoni, 2019).

This study empirically explored whether BCT disrupts or enhances accounting and auditing fields. It also explored the relevance of audit in a BCT environment and the effectiveness of the BCT mechanism for fraud prevention and detection. The study further examined which technical skillsets accountants and auditors require in a BCT environment, and explored the incentives, barriers, and unintended consequences of the adoption of BCT in the accounting and auditing professions. The current COVID-19 environment was also investigated in terms of whether the pandemic has improved BCT adoption or not.

A qualitative exploratory study used semi-structured interviews to engage practitioners from blockchain start-ups, IT experts, financial analysts, accountants, auditors, academics, organisational leaders, consultants, and editors who understood the technology. With the aid of NVIVO qualitative analysis software, the views of 44 participants from 13 countries: New Zealand, Australia, United States, United Kingdom, Canada, Germany, Italy, Ireland, Hong Kong, India, Pakistan, United Arab Emirates, and South Africa were analysed.
The Technological, Organisational, and Environmental (TOE) framework with consequences of innovation context was adopted for this study. This expanded TOE framework was used as the theoretical lens to understand the disruption of BCT and its adoption in the accounting and auditing fields. Four clear patterns emerged. First, BCT is an emerging tool that accountants and auditors use mainly to analyse financial records because technology cannot disintermediate auditors from the financial system. Second, the technology can detect anomalies but cannot prevent financial fraud. Third, BCT has not been adopted by any organisation for financial reporting and accounting purposes, and accountants and auditors do not require new skillsets or an understanding of the BCT programming language to be able to operate in a BCT domain. Fourth, the advent of COVID-19 has not substantially enhanced the adoption of BCT. Additionally, this study highlights the incentives, barriers, and unintended consequences of adopting BCT as financial technology (FinTech). These findings shed light on important questions about BCT disrupting and disintermediating auditors, the extent of adoption in the accounting industry, preventing fraud and anomalies, and underscores the notion that blockchain, as an emerging technology, currently does not appear to be substantially disrupting the accounting and auditing profession.

This study makes methodological, theoretical, and practical contributions. At the methodological level, the study adopted the social constructivist-interpretivism paradigm with an exploratory qualitative method to engage and understand BCT as a disruptive innovation in the accounting industry. The engagement with practitioners from diverse fields, professions, and different countries provides a distinctive and innovative contribution to methodological and practical knowledge. At the theoretical level, the findings contribute to the literature by offering an integrated conceptual TOE framework. The framework offers a reference for practitioners, academics and policymakers seeking to appraise comprehensive factors influencing BCT adoption and its likely unintended consequences. The findings suggest that, at present, no organisations are using BCT for financial reporting and accounting systems. This study contributes to practice by highlighting the differences between initial expectations and practical applications of what BCT can do in the accounting and auditing fields. The study could not find any empirical evidence that BCT will disrupt audits, eliminate the roles of auditors in a financial system, and prevent and detect financial fraud. Also, there was no significant evidence that accountants and auditors required higher-level skillsets and an understanding of BCT programming language to be able to use the technology. Future research should consider the implications of an external audit firm as a node in a BCT network on the internal audit functions. It is equally important to critically examine the relevance of including programming languages or codes in the curriculum of undergraduate accounting students. Future research could also empirically evaluate if a BCT-enabled triple-entry system could prevent financial statements and management fraud.

text: Blockchain technology: Disruptor or enhancer to the accounting and auditing profession The unique features of blockchain technology (BCT) - peer-to-peer network, distribution ledger, consensus decision-making, transparency, immutability, auditability, and cryptographic security - coupled with the success enjoyed by Bitcoin and other cryptocurrencies have encouraged many to assume that the technology would revolutionise virtually all aspects of business. A growing body of scholarship suggests that BCT would disrupt the accounting and auditing fields by changing accounting practices, disintermediating auditors, and eliminating financial fraud. BCT disrupts audits (Lombard et al.,2021), reduces the role of audit firms (Yermack 2017), undermines accountants' roles with software developers and miners (Fortin & Pimentel 2022); eliminates many management functions, transforms businesses (Tapscott & Tapscott, 2017), facilitates a triple-entry accounting system (Cai, 2021), and prevents fraudulent transactions (Dai, et al., 2017; Rakshit et al., 2022). Despite these speculations, scholars have acknowledged that the application of BCT in the accounting and assurance industry is underexplored and many existing studies are said to lack engagement with practitioners (Dai & Vasarhelyi, 2017; Lombardi et al., 2021; Schmitz & Leoni, 2019).

This study empirically explored whether BCT disrupts or enhances accounting and auditing fields. It also explored the relevance of audit in a BCT environment and the effectiveness of the BCT mechanism for fraud prevention and detection. The study further examined which technical skillsets accountants and auditors require in a BCT environment, and explored the incentives, barriers, and unintended consequences of the adoption of BCT in the accounting and auditing professions. The current COVID-19 environment was also investigated in terms of whether the pandemic has improved BCT adoption or not.

A qualitative exploratory study used semi-structured interviews to engage practitioners from blockchain start-ups, IT experts, financial analysts, accountants, auditors, academics, organisational leaders, consultants, and editors who understood the technology. With the aid of NVIVO qualitative analysis software, the views of 44 participants from 13 countries: New Zealand, Australia, United States, United Kingdom, Canada, Germany, Italy, Ireland, Hong Kong, India, Pakistan, United Arab Emirates, and South Africa were analysed.
The Technological, Organisational, and Environmental (TOE) framework with consequences of innovation context was adopted for this study. This expanded TOE framework was used as the theoretical lens to understand the disruption of BCT and its adoption in the accounting and auditing fields. Four clear patterns emerged. First, BCT is an emerging tool that accountants and auditors use mainly to analyse financial records because technology cannot disintermediate auditors from the financial system. Second, the technology can detect anomalies but cannot prevent financial fraud. Third, BCT has not been adopted by any organisation for financial reporting and accounting purposes, and accountants and auditors do not require new skillsets or an understanding of the BCT programming language to be able to operate in a BCT domain. Fourth, the advent of COVID-19 has not substantially enhanced the adoption of BCT. Additionally, this study highlights the incentives, barriers, and unintended consequences of adopting BCT as financial technology (FinTech). These findings shed light on important questions about BCT disrupting and disintermediating auditors, the extent of adoption in the accounting industry, preventing fraud and anomalies, and underscores the notion that blockchain, as an emerging technology, currently does not appear to be substantially disrupting the accounting and auditing profession.

This study makes methodological, theoretical, and practical contributions. At the methodological level, the study adopted the social constructivist-interpretivism paradigm with an exploratory qualitative method to engage and understand BCT as a disruptive innovation in the accounting industry. The engagement with practitioners from diverse fields, professions, and different countries provides a distinctive and innovative contribution to methodological and practical knowledge. At the theoretical level, the findings contribute to the literature by offering an integrated conceptual TOE framework. The framework offers a reference for practitioners, academics and policymakers seeking to appraise comprehensive factors influencing BCT adoption and its likely unintended consequences. The findings suggest that, at present, no organisations are using BCT for financial reporting and accounting systems. This study contributes to practice by highlighting the differences between initial expectations and practical applications of what BCT can do in the accounting and auditing fields. The study could not find any empirical evidence that BCT will disrupt audits, eliminate the roles of auditors in a financial system, and prevent and detect financial fraud. Also, there was no significant evidence that accountants and auditors required higher-level skillsets and an understanding of BCT programming language to be able to use the technology. Future research should consider the implications of an external audit firm as a node in a BCT network on the internal audit functions. It is equally important to critically examine the relevance of including programming languages or codes in the curriculum of undergraduate accounting students. Future research could also empirically evaluate if a BCT-enabled triple-entry system could prevent financial statements and management fraud.

year: 2023

title: The workshop on active Internet measurements (AIMS) report

authors: claffy, kc

subjects: network monitoring

abstract: Measuring the global Internet is a perpetually challenging task for technical, economic and policy reasons, which leaves scientists as well as policymakers navigating critical questions in their field with little if any empirical grounding. On February 12-13, 2009, CAIDA hosted the Workshop on Active Internet Measurements (AIMS) as part of our series of Internet Statistics and Metrics Analysis (ISMA) workshops which provide a venue for researchers, operators, and policymakers to exchange ideas and perspectives. The two-day workshop included presentations, discussion after each presentation, and breakout sessions focused on how to increase
potential and mitigate limitations of active measurements in the wide area Internet. We identified relevant stakeholders who may support and/or oppose measurement, and explored how collaborative solutions might maximize the benefit of research at minimal cost. This report describes the findings
of the workshop, outlines open research problems identified by participants, and concludes with recommendations that can benefit both Internet science and communications policy. Slides from workshop presentations are available at http://www.caida.org/workshops/isma/0902/.

text: The workshop on active Internet measurements (AIMS) report Measuring the global Internet is a perpetually challenging task for technical, economic and policy reasons, which leaves scientists as well as policymakers navigating critical questions in their field with little if any empirical grounding. On February 12-13, 2009, CAIDA hosted the Workshop on Active Internet Measurements (AIMS) as part of our series of Internet Statistics and Metrics Analysis (ISMA) workshops which provide a venue for researchers, operators, and policymakers to exchange ideas and perspectives. The two-day workshop included presentations, discussion after each presentation, and breakout sessions focused on how to increase
potential and mitigate limitations of active measurements in the wide area Internet. We identified relevant stakeholders who may support and/or oppose measurement, and explored how collaborative solutions might maximize the benefit of research at minimal cost. This report describes the findings
of the workshop, outlines open research problems identified by participants, and concludes with recommendations that can benefit both Internet science and communications policy. Slides from workshop presentations are available at http://www.caida.org/workshops/isma/0902/.

year: 2009

title: Exploring the experiences of young Māori mothers

authors: Shepherd, Cindy-Joe Theresa Aroha

subjects: Young Māori mothers

abstract: This thesis explores the lived experiences of three young Māori mothers (aged 16 
years old) in Aotearoa, New Zealand, focusing on their strengths, challenges, and resilience. 
By employing a Kaupapa Māori methodological framework, the research aims to reframe 
narratives about young Māori mothers towards a strengths-based perspective, advocating for 
protection and nurturing Māori whakapapa. Using qualitative methods, the study explores the 
pūrākau (stories) of three young Māori mothers attending a teen parent unit in Waikato. 
The study highlights how, by living within both individualistic and collective realms, 
these young mothers actively challenge stigma, assert their worth, and develop unique 
underlying strengths. The findings, structured around emergent themes from their collective 
experiences, reveal a dichotomy: these young mothers must navigate the individualistic 
pressures and high expectations of motherhood while also drawing strength from collective 
responsibilities upheld within their whānau and supportive community services. Despite 
facing significant societal stigma and systemic barriers, the mothers demonstrate immense 
strength. Their resilience is grounded in whānau connections, proactive self-care, and 
engagement with taiao, wairua, and tino rangatiratanga—processes that also support 
intergenerational healing. 
This research underscores the importance of culturally responsive support systems 
that honour Indigenous knowledge and collective well-being. It offers insights for reorienting 
policy and practice to empower young Māori mothers, recognising their tino rangatiratanga 
and transformative agency by embracing their multifaceted realities.

text: Exploring the experiences of young Māori mothers This thesis explores the lived experiences of three young Māori mothers (aged 16 
years old) in Aotearoa, New Zealand, focusing on their strengths, challenges, and resilience. 
By employing a Kaupapa Māori methodological framework, the research aims to reframe 
narratives about young Māori mothers towards a strengths-based perspective, advocating for 
protection and nurturing Māori whakapapa. Using qualitative methods, the study explores the 
pūrākau (stories) of three young Māori mothers attending a teen parent unit in Waikato. 
The study highlights how, by living within both individualistic and collective realms, 
these young mothers actively challenge stigma, assert their worth, and develop unique 
underlying strengths. The findings, structured around emergent themes from their collective 
experiences, reveal a dichotomy: these young mothers must navigate the individualistic 
pressures and high expectations of motherhood while also drawing strength from collective 
responsibilities upheld within their whānau and supportive community services. Despite 
facing significant societal stigma and systemic barriers, the mothers demonstrate immense 
strength. Their resilience is grounded in whānau connections, proactive self-care, and 
engagement with taiao, wairua, and tino rangatiratanga—processes that also support 
intergenerational healing. 
This research underscores the importance of culturally responsive support systems 
that honour Indigenous knowledge and collective well-being. It offers insights for reorienting 
policy and practice to empower young Māori mothers, recognising their tino rangatiratanga 
and transformative agency by embracing their multifaceted realities.

year: 2024-06-23