Internal Control Considerations

Another aspect of the blockchain and cryptocurrency conversation, especially as it pertains to the financial services, that is important to have in a comprehensive way is the discussions around the internal controls necessary for further adoption. It is true that the conversation and analysis that normally surround internal controls may not be one that attracts large amounts of attention or excitement, but it is a critical one for the blockchain and artificial intelligence conversation (Crosman, 2018). Put simply, even as technology becomes more integrated within the broader financial landscape and services professions, it will still remain important for financial services professionals to be aware of, and well versed in, developing and implementing internal controls (Li & Juma’h, 2022) (Fig. 11.1).