Using Blockchain to Aggregate and Share Misconduct Issues across the Accounting Profession
Year: 2018
Type: article
Abstract: SUMMARY A perennial challenge in the accounting profession is how to aggregate and share instances of practitioner misconduct among numerous relevant parties. At present, both the American Institute of Certified Public Accountants (AICPA) and National Association of State Boards of Accountancy (NASBA) offer solutions for centralized collection of misconduct, but both likely experience issues with incomplete reporting from key constituents. I propose a novel use of blockchain technology to address this issue, such that all key parties in the accounting profession leverage an accountancy blockchain to aggregate and share instances of practitioner misconduct across the country on a nearly real-time basis. Such a network creates an immutable record of misconduct and allows key constituents in the accounting profession to work together and share information as peers without the risk of one party taking control of the ledger. I close by discussing blockchain-specific roadblocks to realizing this proposed model.
Source: Current Issues in Auditing
DOI: 10.2308/ciia-52184
Author: Mark D. Sheldon
Institution: John Carroll University
Language: English
Subfield: Information Systems
Field: Computer Science
Domain: Physical Sciences
Open Access status: diamond
OpenAlex ID: W2884657443