Distributed ledger technologies for control and accounting-analytical support in the digital economy

Abstract

Distributed ledger technology (DLT) provides a fundamental methodological basis for strengthening control and enhancing the reliability of accounting. It shifts trust to the cryptographic level and enables triple-entry accounting and continuous auditing, ensuring the immutability and integrity of accounting information. This article offers a comprehensive examination of the potential of Distributed Ledger Technology (DLT) as a foundation for the methodological transformation of accounting systems and enterprise financial control – specifically, the transition toward the paradigms of triple-entry accounting and continuous auditing – and develops recommendations for mitigating systemic challenges essential for ensuring the reliability of accounting information in the digital economy. The study employs conceptual, synthetic, and classification-systematizing analytical methods to assess the architecture of DLT systems and their suitability for accounting tasks. To provide a multifaceted evaluation of integration potential and related challenges, comparative, synergetic, SWOT, and risk analyses are applied. The research substantiates that adopting DLT technologies enables a fundamental methodological shift in accounting, facilitating the transition from traditional double-entry bookkeeping to Triple-Entry Accounting. It is demonstrated that the immutability, transparency, and cryptographic security of distributed ledgers enable the integration of accounting and analytical functions with emerging digital technologies (AI, IoT, and Big Data). This synergy forms the basis for Continuous Auditing, in which the control function is performed automatically and in real time. The study identifies the main systemic challenges of DLT implementation, including the acute shortage of specialists with dual expertise (accounting, auditing, and DLT), insufficient digital competencies of existing staff, and significant integration complications with legacy enterprise IT infrastructures (ERP systems). Additional risks arise from regulatory uncertainty regarding the legal status of crypto-assets and smart contracts, which hinders the standardization of accounting practices. The article proposes practical recommendations emphasizing that the successful implementation of DLT projects requires a comprehensive approach. This includes not only technological transformation (gradual integration and transition toward consortium-based DLT models) but also active development of human capital. Specifically, investment is required in retraining accounting and analytical personnel, creating new interdisciplinary educational programs focused on smart-contract deployment and DLT analytics, and adapting national accounting standards. Keywords: distributed ledger technology, accounting and analytical support, triple-entry accounting, continuous auditing, digital economy, smart contracts, professional competencies.