Assessment of Blockchain-Based Accounting Technology on Accounting Report Efficiency Among Business Operators in Jordan

Blockchain, a distributed ledger technology, has the potential to revolutionize several fields. This study is timely and relevant as it looks into blockchain technology (BT) and its key implications for the accounting transparency of small and medium-sized enterprises (SMEs). The research evaluated the effectiveness of accounting reports and the use of blockchain technology by Jordanian SME owners. This study used a survey as its research method. Every business operator in Jordan who runs a small or medium-sized enterprise was included in the study’s population. To get an accurate representation of the population, we employed a straightforward selection method to pick 103 participants. A questionnaire served as the data-gathering tool. Experts in testing and measuring confirmed the reliability of the equipment. Pearson product-moment and percentage correlation analyses were performed on the collected data from the surveys. The results from the data analysis demonstrate and indicate that the effectiveness of the accounting reporting of Jordanian auditors is significantly correlated with the use of blockchain accounting technology. The research suggests that auditors should take advantage of hands-on training courses offered by specialized professional organizations like the Jordanian Certified Public Accountants Association to better understand how to use blockchain technology and minimize its risks. The administrations of BT firms must use the Committee of Sponsoring Organizations (COSO) Committee framework for control activities to make sure that BT risks are managed in a timely and appropriate way and to improve the quality of information in financial reports.