Published Online:October 2025
Product Name:The IUP Journal of Accounting Research & Audit Practices
Product Type:Article
Product Code:IJARAP081025
DOI:10.71329/IUPJARAP/2025.24.4.160-177
Author Name:Gourav Surana and Samta Ordia
Availability:YES
Subject/Domain:Finance
Download Format:PDF
Pages:160-177
The paper explores the potential socioeconomic consequences of adopting blockchain technology (BT) in accounting and auditing service industry. It investigates the perceived socioeconomic consequences of BT in accounting from users’ perspectives through an online survey using a structured questionnaire. Respondents rated 20 variables on a fivepoint Likert Scale, and the data were analyzed using descriptive statistics, chi-square testing, and factor analysis. Results show that the most significant perceived benefits are automation of business processes, real-time accounting and auditing, and enhanced trust in business environments. The findings highlight the importance of trust, data integrity, and governance in blockchain adoption, while also addressing implementation challenges and broader socioeconomic implications.
Rapid technological progress has ushered in the fourth Industrial Revolution, commonly referred to as Industry 4.0. This revolution necessitates the automation of various industries, leading to a demand for blockchain technology (BT).