The main objective of this study was to examine the effect of blockchain technology on future of external auditing in Nigeria. Decentralized network and consensus mechanism were the proxies for blockchain technology. Thus, two hypotheses were formulated to guide the investigation and the statistical test of parameter estimates was conducted using least squares regression model operated with E-Views.12. Survey design was adopted and data for the study was obtained through the use of e-questionnaire survey sent to the various Staff WhatsApp Group Platform of the selected audit firms in Anambra State Nigeria. The results of the study reveal that the use of decentralized network has positive and significant effect on the future of external auditing in Nigeria at 1% level of significance. Also, the use of consensus mechanism in auditing has positive and significant effect on the future of external auditing in Nigeria at 5% significant level. Based on this, the study concludes that blockchain technology ensure the future of external auditing in Nigeria. In lieu of the findings of the study, the study recommends for the continual use of decentralized network in auditing as the future of external auditing lies on it. Also, the use of consensus mechanism should also be encouraged as it ensures accuracy and reliability in audit reporting.
The study investigated digital currency and blockchain technology in the 21st century financial ecosystem. The empirical study adopted a descriptive survey design. A questionnaire was used for data collection in a sample size of 121 selected randomly from the staff and students of Abia State Polytechnic, Aba. The data collected from the respondents were analyzed with the frequency distribution table and chi-square (x2 ) statistical technique. The findings revealed the imperativeness of digital currency and blockchain technology in the 21st century financial ecosystem. In other words, digital currency and blockchain technology has significant effect with financial ecosystem. The study, therefore, recommended among others that Central bank of Nigeria, legislators and financial stakeholders should collaborate to establish compliance standards and best practices for digital currency and blockchain integration in financial ecosystem. These standards should ensure that digital currency algorithms and blockchain technology conform with regulatory requirements and ethical principles, while promoting transparency and accountability.
The adoption of emerging technologies in the finance industry, such as blockchain, promises to provide new perspectives on data security and business processes. This advanced innovation paves the way for unprecedented financial and organizational optimization, transforming not only processes and structures, but also fundamental paradigms of trust and knowledge. The financial industry faces numerous challenges in combating fraud and embezzlement, due to the complexity and scale of its operations. Therefore, the infrastructure provided by the blockchain system helps reduce costs related to intermediaries, enhances security, and improves trust between stakeholders, thanks to the principle of decentralization and the immutability of its ledger. Furthermore, this technological revolution offers financial actors the ability to create new services and solutions in order to meet the needs of several business activities, especially those with complex supply chains. A perfect use of it, will certainly develop the standards of this industry and stimulate innovative economic growth. Although the blockchain offers substantial opportunities for the financial sector, its potential can only be fully achieved with adequate regulatory support, as a way to steer the system toward a more digital and inclusive economy. After a presentation of blockchain technology and its mode of operation, we will be focusing on its potential in finance and how it might provide creative accounting and financial management solutions.
[ES]En la actualidad estamos viviendo una época de cambios sustanciales derivados de la disrupción creada por las nuevas tecnologías. Muestra de esta situación la encontramos en la importancia creciente, especialmente en términos económicos, de lo que se ha denominado como “activos digitales”. Este artículo pretende ofrecer una visión realista de la situación actual desde el punto de vista tanto contable como de calificación jurídica de estos activos, con una especial referencia a los tokens no fungibles (NFTs), con la pretensión de incentivar el necesario debate sobre la pertinencia de que estas nuevas realidades se contemplen desde un enfoque pluridisciplinar.[EN]We are currently living in an era of substantial changes derived from the disruption created by new technologies. An example of this situation can be found in the growing importance, especially in economic terms, of the knows as “digital assets”. This article aims to offer a realistic view of the current situation from the point of view of both accounting and the legal classification of these assets, with special reference to non-fungible tokens (NFTs), with the purpose of encouraging the necessary debate on the relevance of considering these new realities from a multidisciplinary approach.
Elizabeth Juliana Núñez Bartolomé, Wendy Diana Carranza Quimí, Fresia Susana Chang Rizo, Oscar Fabián Moncayo Carreño
This research study focuses on the analysis of internal control in relation to administrative, accounting and financial management, with the purpose of identifying critical points and deficiencies present. The data collected during the investigation carried out in the financial department and in the administrative area, where the delivery of specifications for coordination with the National Public Procurement System (SERCOP) is planned, reveal the existence of shortcomings in control practices. Control risks were mainly observed as risk factors, and the improper application of internal control procedures affects the internal processes of the finance department. It is essential for the Decentralized Autonomous Government of Palenque to identify development mechanisms to address existing problems and provide quality and timely works and services projects, thus guaranteeing the social and economic development of the population. In this research, the focus is to analyze and determine a solution scheme to mitigate deficiencies in accounting, administrative, and financial management. This involves designing control documents and determining tools that facilitate the improvement of internal control in the Decentralized Autonomous Government of the Palenque Canton.
Se analiza en este trabajo la consideración de los valores representados mediante sistemas basados en tecnología de registro descentralizado como una nueva forma de expresión de los derechos que integra, junto con los valores representados mediante título y mediante anotaciones en cuenta, el concepto de los derechos-valor. This paper analyzes the crypto-securities, that is, securities on distributed ledgers or the issuance of traditional securities in tokenised form, as a new way of representation of rights that integrates, together with securities represented by title and book entries, the concept of rights-value.
La contabilidad como sistema de información debe considerar aquellas innovaciones tecnológicas y financieras que impactan en el mundo empresarial. La aparición, consolidación y diversidad de las criptomonedas hace necesario que la disciplina contable tome nota rápida del fenómeno y dé respuestas sobre su incorporación al patrimonio, su medición y exposición. Los riesgos y la volatilidad son características particulares de este tema.