Fintech and the Impact on Accounting Fraud
The author believes that the accountancy profession, especially audit, is set to be disrupted by financial technology (fintech) through the widespread use of Big Data (BD) and adoption of the nascent blockchain (BC) technology. The threats and opportunities from BD and BC will be examined, which will help to ascertain the future of the audit profession and the likely impact on accounting fraud.
Background
The exponential rate of growth of technological development is greatly influencing organizations, especially in the financial services industry, resulting in unparalleled opportunities for improvement and innovation. For example, 74 percent of all banks across the UK expect to eradicate human ...
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