Title: BLOCKCHAIN AND THE FUTURE OF AUDITING: EXAMINING AUDITORS’ AWARENESS AND UNDERSTANDING IN GHANA
Authors:
Dennis Amoah, Sarah Sakyi Brown, Regina Ali and Edmund Benjamin-Addy
Abstract:
Blockchain and smart contracts are increasingly viewed as transformative technologies with the potential to enhance transparency, automation, and data integrity in auditing. However, their effective integration into audit practice depends largely on auditors’ awareness and understanding of these technologies. This study investigates auditors’ awareness and understanding of blockchain and smart contracts and examines how these cognitive factors influence perceived relevance and organizational readiness for blockchain-enabled auditing in Ghana. Using a quantitative cross-sectional survey of 110 professional auditors, the study applies descriptive statistics and multiple regression analysis to test the proposed relationships. The results show that auditors demonstrate moderate awareness but relatively limited technical understanding of blockchain technologies. Awareness is found to significantly enhance auditors’ understanding, while understanding positively influences perceptions of organizational readiness and institutional support. Unexpectedly, deeper understanding is negatively associated with perceived relevance, suggesting that more knowledgeable auditors may adopt a more critical perspective regarding the practical implementation of blockchain in auditing. The findings highlight the importance of professional training, technological literacy, and institutional readiness in preparing auditors for digital transformation in audit practice.
Keywords: Blockchain technology; Smart Contracts; Auditing; Technology Adoption; Digital Transformation.
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