The Impact of Applying Blockchain Technology on Enhancing the Reliability and Quality of Accounting Information: A Field Study on a Sample of Iraqi Banks
Sarhan Ajaj Alo
Assistant Lecturer, College of Administration and Economics, University of Kirkuk, Iraq
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http://doi.org/10.37648/ijps.v21i01.021
Abstract
This paper focuses on the influence of implementing Blockchain technology to improve the quality and reliability of accounting information in Iraqi banks, considering the issues of weak transparency, high risk of errors and manipulation, and reliance on traditional systems to process financial information. The significance of the research is connected to the increasing role of contemporary digital technologies in the creation of accounting information systems and in enhancing the efficiency of financial and banking performance. The research adopted a descriptive-analytical approach, whereby a field study was conducted on a sample of employees within Iraqi banks, such as accountants, auditors, and administrators, with the aim of determining their awareness of the significance of blockchain technology and quantifying the effect of its application in enhancing the quality of accounting information. The data were gathered through a questionnaire and examined using relevant statistical techniques in order to test the research hypotheses. The paper establishes that the application of blockchain technology has a statistically significant positive effect on improving the reliability and quality of accounting information, in terms of improving data accuracy, decreasing the possibilities of manipulation, and increasing the degree of transparency in financial transactions. It was also found that, in addition to enhancing internal control systems, the technology supports the auditing process through the creation of an immutable digital record that allows the tracking of financial transactions at all times. Moreover, the results demonstrate that the adoption of blockchain technology by Iraqi banks in the context of digital transformation is necessary, and that this technology should be supported by the necessary technical and legislative frameworks and the training of accounting and banking staff in order to increase the predictability and quality of accounting data and to facilitate financial decision-making.
Keywords:
Blockchain; quality of accounting information; information reliability; Iraqi banks.
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