The importance of blockchain technology and its impact on audit traceability

Abstract

The study evaluates the impact of blockchain technology on audit traceability, taking into account its ability to transform accounting procedures through its secure, reliable, and transparent records. The main objective of the study is to recognize the different long-term benefits, limitations, and projections associated with its proper implementation. To achieve this, a sample analysis was used, implementing a qualitative exploratory-descriptive approach to combine systematic document analysis. Studies on the impact of this new technology were conducted on 29 professionals with extensive experience and knowledge in the field of auditing or related areas at the University of the Armed Forces ESPE, specifically in the Department of Economic, Administrative, and Commercial Sciences. The results show a reasonable view of the usefulness of this new technology, highlight several benefits, and identify significant obstacles to the implementation of blockchain. Despite the various challenges, the results obtained project that implementing this new technology in the area of auditing could have a positive outcome within a period of up to five years, provided that training initiatives, investment in technology, and adaptation to the respective regulations in force are promoted. The research concludes by stating that, despite the various limitations related to the sample size and the lack of practical experience, the results provide a solid foundation for future studies and advances in the field of digital auditing.