Blockchain

Blockchain

Learning Goal: I’m working on a accounting discussion question and need a sample draft to help me learn.

Read the recommended article by Patterson about Blockchain from the AICPA website in the Module 6 recommended readings.

How will Blockchain affect auditing in the future? What must auditors understand about this technology? Provide realistic examples to support your reasoning?

Your initial posting should be 250-500 words and must be submitted by Thursday, 11:59 pm, MST of this week.

Requirements: 250-500 Words

ARTICLE: https://www.aicpa-cima.com/news/7-uses-for-blockch…

Answer preview

The invention of blockchain is one of the innovative tools that will impact the auditing field in the future. On this note, blockchain is a significant invention that can improve the auditing profession by reducing maintenance costs and reconciling ledgers. Also, this technological innovation will enable auditors to have absolute certainty regarding the ownership of assets and the historical aspect of the investments. Acknowledging the impact blockchain will have on auditing will influence auditors better to understand this technology and leverage more support from it.

(387words)