Role of blockchain technology in accounting and audit

The invention of blockchain technology can be equated with the invention of a written or Internet network, given their main role in communication between individuals and legal entities, in terms of information transfer, money transfers, etc. The authors analyze the technology, implemented and projected examples of its use, its relationship with accounting and auditing, and its impact on the development of these economic Sciences. The development of accounting and auditing is associated with the development of modern technologies. Currently, in accordance with technological progress, the role of blockchain technology is constantly increasing. The blockchain is a distributed database that supports an ever-growing list of data records that are protected from tampering and revision. Blockchain can be used primarily in the financial and banking sectors, as well as in e-government and the administrative sector. The introduction of blockchain technologies in accounting and auditing does not change their fundamental principles, but increases audit capabilities.