TFS Gulf 
- Blockchain will remove the repetitive nature of transactions and ensure auditors become more involved in using data-led reporting.
- Blockchain will push auditing firms to make their clients use the technology.
- Auditing will become a strategic function that will work closely with the C-Suite.
The impact of Blockchain on auditing is imminent
“A fundamental change is happening. Blockchain will eventually replace all intermediaries” says Raghav Swaminathan, CFO of Wipro Enterprises.
Auditing and compliance were, for a long time, considered the bastion of accounting. However as these subjects become the core of the study of chartered accounting, a majority of auditing is repetitive and hence can be replaced by automation.
More so with the advent of blockchain, the addition of immutability and transparency is ushering in a new generation of auditors who are too strategic to be involved in rote reporting.
Support authors and subscribe to content
You have reached the maximum number of articles Sign up now to continue reading for free
