Artificial Intelligence and Blockchain

Category: Literature
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Pages:  1
Words:  445
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Often mentioned as the revolution for the law “DAO”(Decentralised autonomous organisations) refers to the digital version of agreement where all rules and regulations are written in source code.(Universa, 2017). DAOs operate through computer programs known as “smart contracts”. This can cause a challenge for the auditors as DAO in itself is not a legal entity therefore assets held under DAO should be carefully considered. (Broby, 2017). Along with these there are various other aspects like the validation of timestamping of the blockchain and multi location audit risk that needs to be efficiently managed by auditors with appropriate skill sets.(Broby, 2017).

As the audit world is encountering a digital transformation , auditors are implementing digital tools like cognitive technology and intelligent automation as it provides benefit of richer and more detailed audit evidence along with enhanced transparency. As described by KPMG, Cognitive system convert the human knowledge into machine interpreted logics.(KPMG, 2017)Automation of accounts and auditing will allow auditors to focus more on business analytics and provide professional judgement.

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When you integrate blockchain, analytics and artificial intelligence you have the ability to uncover the anomalies in real time.(Jack Shaw, 2017)Artificial Intelligence and Blockchain are said to be two extreme sides of technology while the former promotes decentralised applications in an open data environment ,the later fosters on centralised intelligence on closed platforms however, It still would find a way in the future to work well together.(Corea, 2017)

Theoritical Framework

The TOE framework was developed in 1990(Tornatzky, 1990).It majorly identifies three aspects of an enterprise in order to adapt and implement technological innovation: Technological Context, Organizational Context and Environmental Context.(Martins, n.d.)Technological Context includes both external and internal technologies relevant to a firm.(Tornatzky, 1990)Organisational context includes the descriptive measures of a firm such as scope,size etc.(Tornatzky, 1990)Environmental context is the arena within which a firm operates its business.(Tornatzky, 1990)

Research Methodology

It is important to select an appropriate research method, so for my research I have selected Qualitative method. Qualitative Research is known to develop new theories as it is a type of research strategy that focuses more on words and fundamentals than on numbers and technical data(Bryman, 2011).

The plan will be to collect primary data in the form of interviews from KPMG and analyse the strategies that they want to formulate for auditing the blockchain technology and also discuss the future prospects of blockchain technology in auditing to fill the gap in the literature. Secondary data from Daniel and Greig , opinions of Big4and various other academic papers shall be extensively used for the purpose of my study in order to increase the credibility and authenticity of my research.

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Artificial Intelligence and Blockchain. (2019, Jan 11). Retrieved from