Block chain Technology and Future of External Auditing in Nigeria

Abstract

This study examines the effect of blockchain technology on the future of external auditing in Nigeria using decentralized network and consensus mechanism as proxies. Survey data from audit firms reveal that both decentralized networks and consensus mechanisms have significant positive effects on the future of auditing. Blockchain ensures transparency and a tamper-proof audit trail, moving the profession toward real-time monitoring. The study recommends the continued use of decentralized networks and consensus mechanisms to ensure accuracy and reliability in audit reporting.

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