Reading: Blockchain Adoption in Accounting and Auditing: A Qualitative Inquiry in Sri Lanka

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Blockchain Adoption in Accounting and Auditing: A Qualitative Inquiry in Sri Lanka

Authors:

P. A. S. N. Perera,

University of Colombo, LK
About P. A. S. N.
Department of Accounting
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A. W. J. C. Abeygunasekera

University of Colombo, LK
About A. W. J. C.
Department of Accounting
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Abstract

Regardless of the benefits blockchain provides to the accounting information systems, its adoption and application is limited. This study: (1) investigated the underlying reasons for this limited adoption of blockchain in a developing country context; (2) explored the potential benefits and challenges of adopting blockchain; and (3) proposed how accounting and auditing should be facilitated to adopt blockchain technology. The study utilized a qualitative general inquiry approach by conducting 13 in-depth interviews with professionals and practitioners involved in the adoption process in organizations that had adopted blockchain technology, or are researching this technology and have plans to adopt this technology in the future. Findings revealed five reasons for the lack of blockchain adoption, contributing to Technology-Organization-Environment (TOE) framework and Institutional theory. In addition, the study identified the benefits and challenges of introducing blockchain into accounting and auditing while proposing a framework to facilitate blockchain adoption in these disciplines.
How to Cite: Perera, P.A.S.N. and Abeygunasekera, A.W.J.C., 2022. Blockchain Adoption in Accounting and Auditing: A Qualitative Inquiry in Sri Lanka. Colombo Business Journal, 13(1), pp.57–87. DOI: http://doi.org/10.4038/cbj.v13i1.89
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Published on 30 Jun 2022.
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