Distributed Ledger Technology Design and the Role of Internal Controls

Abstract

Challenges presented as a result of emerging technologies and the developments revolving around the financial environment, as well as the need to design tools and techniques which can accommodate and realize potential and intended benefits of Distributed Ledger Technologies, are considered in this section of the volume. Even though it might be expected that internal controls and corporate governance related matters would influence and dominate main concerns relating to implementation of emerging technologies, it appears from recent surveys and statistics that employing staff and employees with adequate skills and expertise, as well as concerns relating to those risks emanating from cyber risks constitute and generate the greatest levels of concerns for industry experts and professionals. Designing tool and techniques which can accommodate and adapt to – as well as ensure that enterprise programs and systems are able to align with the demands presented by emerging technologies, back up plans, namely internal control measures should constitute or rather, also embody part of the fore of concerns in a changing business and financial environment. The Future of Forensic Accounting – particularly Computer Forensics, in becoming more engaged in Distributed Ledger Technology Designs – particularly in matters relating to internal control systems and designs – as a means of more effectively addressing associated risks attributed to crypto currencies and other emerging technologies is also considered in this section of the volume.