Digitalization's Influence on Audit: Examining the Implications of Big Data and Blockchain Technology

The contemporary society is undergoing constant evolution, with digitization emerging as a predominant global trend. This transformation is significantly influencing organizations, compelling them to navigate waves of digitalization. To effectively respond to the ever-changing and rapidly accelerating customer demands, organizations must harness digital technologies to adapt their operational frameworks. This adaptation aims to enhance efficiency in their processes. The focal point of this study is to enhance understanding regarding the technological forces shaping the audit profession. Specifically, the study investigates the impacts of big data and blockchain technology on auditing through semi-directed interviews conducted with selected auditors from diverse audit companies. The insights gleaned from these interviews contribute to an enriched comprehension of big data and blockchain's role within the audit domain. The study identifies four key themes aligned with participant feedback, elucidating the influence of big data and blockchain on auditing: 1) the commitment to training personnel in new audit software and methodologies, 2) the necessity for IT support to bridge technological knowledge gaps among auditors, 3) the adoption of specialized audit software beyond Excel in organizational practices, and 4) the limited experience or early-stage adoption of big data and blockchain within audit firms. The study's findings offer valuable insights for auditors and other stakeholders involved in working with clients leveraging these technologies in their systems.