Purpose: Over the last decade, blockchain technology has exponentially grown and paved the way for large-scale adoption in numerous fields. Its primary use was related to cryptocurrency. However, the sphere of its application extended and included supply chains, healthcare, governance, and, more notably, the financial industry. This study aimed to review the existing literature on blockchain and its application to financial accounting, accounting, and auditing.

Methodology: To conduct this study, we used bibliometric analysis and a systematic review of the literature. This analysis identified several specific qualities that allowed identifying the use of blockchain technology in accounting and auditing, which included data security, blockchain, and blockchain encryption as a neutral information coding. However, concerns about data privacy, scalability, and regulatory uncertainty emerged as significant barriers that required attention from key stakeholders. Practical

Implications: The study provided numerous suggestions for accounting professionals, auditors, and regulators, offering guidance on how to navigate emerging blockchain applications and integrate them responsibly into existing financial reporting practices. It could also provide a perspective on the role played by relevant organizations’ interests in shaping key investments in technology and their development.

Originality: This paper contributed to the academic discourse by offering a comprehensive overview of blockchain’s financial applications and tracing its progress in the fields of accounting, auditing, and financial reporting.

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