The Influence of Blockchain on Financial Transparency: Implications for Audit and Compliance in Corporate Accounting Culture

Abstract

This article investigates the impact of blockchain technology on financial transparency, with a focus on its implications for audit processes and compliance within corporate accounting culture. Blockchain, known for its decentralized and immutable nature, offers enhanced security and traceability in financial transactions, making it a promising tool for improving transparency in corporate finance. By enabling real-time data access and reducing the risk of data manipulation, blockchain technology has the potential to transform traditional auditing practices and compliance frameworks. This paper examines recent case studies and industry reports to assess how blockchain adoption is reshaping corporate accountability and streamlining audit functions, ultimately fostering a culture of transparency and trust. Findings suggest that while blockchain adoption presents challenges, such as integration costs and regulatory adjustments, its benefits in enhancing financial integrity and reducing fraud are substantial. This study provides insights for corporate decision-makers and auditors seeking to leverage blockchain for sustainable financial practices, aiming to align with evolving regulatory standards and stakeholder expectations in a digital economy.