Blockchain Adoption in Accounting and Auditing: A Qualitative Inquiry in Sri Lanka
Regardless of the benefits blockchain provides to the accounting information systems, its adoption and application is limited. This study: (1) investigated the underlying reasons for this limited adoption of blockchain in a developing country context; (2) explored the potential benefits and challeng...
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| Format: | Article |
| Language: | English |
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Faculty of Management & Finance, University of Colombo
2022-06-01
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| Series: | Colombo Business Journal |
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| Online Access: | https://mgmt.cmb.ac.lk/cbj/wp-content/uploads/2022/06/3.-CBJ-2021-ACT-2-Upload-Limited-Blockchain.pdf |
| _version_ | 1811249427342426112 |
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| author | A. W. J. C. Abeygunasekera |
| author_facet | A. W. J. C. Abeygunasekera |
| author_sort | A. W. J. C. Abeygunasekera |
| collection | DOAJ |
| description | Regardless of the benefits blockchain provides to the accounting information systems, its adoption and application is limited. This study: (1) investigated the underlying reasons for this limited adoption of blockchain in a developing country context; (2) explored the potential benefits and challenges of adopting blockchain; and (3) proposed how accounting and auditing should be facilitated to adopt blockchain technology. The study utilized a qualitative general inquiry approach by conducting 13 in-depth interviews with professionals and practitioners involved in the adoption process in organizations that had adopted blockchain technology or are researching this technology and have plans to adopt this technology in the future. Findings revealed five reasons for the lack of blockchain adoption, contributing to Technology-Organization-Environment (TOE) framework and Institutional theory. In addition, the study identified the benefits and challenges of introducing blockchain into accounting and auditing while proposing a framework to facilitate blockchain adoption in these disciplines. |
| first_indexed | 2024-04-12T15:46:21Z |
| format | Article |
| id | doaj.art-44f03909de93476ca50d83918717c039 |
| institution | Directory Open Access Journal |
| issn | 1800-363X 2579-2210 |
| language | English |
| last_indexed | 2024-04-12T15:46:21Z |
| publishDate | 2022-06-01 |
| publisher | Faculty of Management & Finance, University of Colombo |
| record_format | Article |
| series | Colombo Business Journal |
| spelling | doaj.art-44f03909de93476ca50d83918717c0392022-12-22T03:26:38ZengFaculty of Management & Finance, University of ColomboColombo Business Journal1800-363X2579-22102022-06-01131578710.4038/cbj.v13i1.89Blockchain Adoption in Accounting and Auditing: A Qualitative Inquiry in Sri LankaA. W. J. C. Abeygunasekera0https://orcid.org/0000-0002-7425-3428Department of Accounting, University of Colombo, Sri LankaRegardless of the benefits blockchain provides to the accounting information systems, its adoption and application is limited. This study: (1) investigated the underlying reasons for this limited adoption of blockchain in a developing country context; (2) explored the potential benefits and challenges of adopting blockchain; and (3) proposed how accounting and auditing should be facilitated to adopt blockchain technology. The study utilized a qualitative general inquiry approach by conducting 13 in-depth interviews with professionals and practitioners involved in the adoption process in organizations that had adopted blockchain technology or are researching this technology and have plans to adopt this technology in the future. Findings revealed five reasons for the lack of blockchain adoption, contributing to Technology-Organization-Environment (TOE) framework and Institutional theory. In addition, the study identified the benefits and challenges of introducing blockchain into accounting and auditing while proposing a framework to facilitate blockchain adoption in these disciplines.https://mgmt.cmb.ac.lk/cbj/wp-content/uploads/2022/06/3.-CBJ-2021-ACT-2-Upload-Limited-Blockchain.pdfblockchain technologyaccountingauditingtoe frameworkinstitutional theory |
| spellingShingle | A. W. J. C. Abeygunasekera Blockchain Adoption in Accounting and Auditing: A Qualitative Inquiry in Sri Lanka Colombo Business Journal blockchain technology accounting auditing toe framework institutional theory |
| title | Blockchain Adoption in Accounting and Auditing: A Qualitative Inquiry in Sri Lanka |
| title_full | Blockchain Adoption in Accounting and Auditing: A Qualitative Inquiry in Sri Lanka |
| title_fullStr | Blockchain Adoption in Accounting and Auditing: A Qualitative Inquiry in Sri Lanka |
| title_full_unstemmed | Blockchain Adoption in Accounting and Auditing: A Qualitative Inquiry in Sri Lanka |
| title_short | Blockchain Adoption in Accounting and Auditing: A Qualitative Inquiry in Sri Lanka |
| title_sort | blockchain adoption in accounting and auditing a qualitative inquiry in sri lanka |
| topic | blockchain technology accounting auditing toe framework institutional theory |
| url | https://mgmt.cmb.ac.lk/cbj/wp-content/uploads/2022/06/3.-CBJ-2021-ACT-2-Upload-Limited-Blockchain.pdf |
| work_keys_str_mv | AT awjcabeygunasekera blockchainadoptioninaccountingandauditingaqualitativeinquiryinsrilanka |