An analysis on the implementation of new approaches and techniques in the auditing of business processes based on blockchain technologies

Next-generation blockchain technologies emerged after the 2008 global financial crisis. Due to the global financial crisis, risk management strategies among stakeholders have begun to be questioned. Hence, it can be argued that blockchain technologies have evolved as an output of this situation, which started with the change of management decision-making processes. From this point of view, it is a fact that in the last decade, blockchain technologies have had significant effects on infrastructures, systems, and processes and are developing rapidly. Among these developments, especially blockchain technologies lead to different jobs and functions in different sectors. Particularly, it is observed that blockchain technologies have reached to the increasingly widespread areas of use including payment systems, smart contracts, securities trading, regulation, accounting, and auditing. Nevertheless, the contribution of blockchain technologies to liberalization and transparency in the world economy is an evolution that will lead to the beginning of a new era in international trade. From this point of view, it can be said that blockchain technology is the technological development that provides the most important externalities to reduce the tax problems faced by direct investors due to transfer pricing. The major aim of this study is to examine new methods, approaches, and techniques for how to audit blockchain technologies widely use in new infrastructures, systems, and processes in modern business life. In particular, this study examines techniques for auditing the financial transactions over the blockchain. In this way, the current situation of the participants in the accounting and financial audit process and the aspects to be developed are revealed. In addition, it is aimed to contribute to the literature by providing recommendations for best practices. © Peter Lang GmbH Internationaler Verlag der Wissenschaften Berlin 2019. All rights reserved