Open document flow based on blockchane technology for cyber security of the accounting system
DOI:
https://doi.org/10.35774/visnyk2021.04.156Keywords:
accounting, cybersecurity, blockchain, document flow, cyber risks of accounting information.Abstract
Introduction. To ensure cyber protection, the company’s management resorts to isolating accounting information containing trade secrets from other information flows. However, confidential document management attracts significant attention from internal users and outsiders in order to gain unauthorized access. Due to active cyber threats, the isolation practice in the implementation of electronic information communications is ineffective for cybersecurity, which requires the development of new methods documentation and document circulation at the enterprise.
The purpose of the article is to study the benefits of open document management of enterprises based on blockchain technology to abandon the isolation of information flows in order to ensure cybersecurity of enterprises.
Methods. In the process of researching the disadvantages and advantages of isolation and open document management, general theotrtical( empirical, logical and historical) methods of cognition of reality are used. The research is based on scientifical methods of dislosing the economic processes, facts and phenomena from the standpoint of accounting and cybersecurity of enterprises. The information base of the article is selected historical documents on the development of blockchain technology, scientific works of scientists on block-chain structuring of accounting information, etc.
Results.The fundamental principles of blockchain technology in the conditions of its use for the organization of cybersecurity of accounting information are formed. The expediency of refusing to isolate information in favor of open document management in terms of maintaining trade secrets of the enterprise is substantiated. The method of documenting and document circulation on the principles of block-chain structuring of the database, which determines the order of fragmentation and recombination of accounting information at the internal and external levels of electronic communications, is studied. The procedure for using the electronic key system to gain access to confidential accounting information in accordance with the information needs of users and their classification in the enterprise management system.
Perspectives. In order to organize cybersecurity of enterprises, it is important to improve the methodology of implementation of other elements of the method of accounting in the process of automated information processing, which requires further research.
References
Shpak, V. A. (2015). Organization of protection of accounting information. Accounting, analysis and audit: problems of theory, methodology, organization, 2, 181–187 [in Ukrainian].
Bansal, S. K., Batra, R., Jain, N. (2018). Blockchain and the future of accounting. The Management Accountant Journal, 6, 60-66 [in English].
Bonson, E., Bednarova, M. (2019). Blockchain and its implications for accounting and auditing. Meditari Accountancy Research. Vol. 27, No. 5, 725-740. DOI: https:// doi.org/10.1108/MEDAR-11-2018-0406
O’Leary, D.E. (2017). Configuring blockchain architectures for transaction information in blockchain consortiums: the case of accounting and supply chain systems. Intelligent Systems in Accounting, Finance and Management. Vol. 24, No. 4, 138-147. DOI: https://doi.org/10.1002/isaf.1417
Rındasu, S.M. (2019). Blockchain in accounting: trick or treat? Quality Access to Success. Vol. 20, No. 170, 143-147.
Cai, C. W. (2021). Triple-entry accounting with blockchain: how far have we come? Accounting Finance. DOI: https://doi.org/10.1111/acfi.12556
Coyne, J. G., McMickle, P. L. (2017). Can Blockchains serve an accounting purpose. Journal of Emerging Technologies in Accounting. Vol. 14, No. 2, 101-111. DOI: https://doi.org/10.2308/jeta-51910
Sarkar, S. (2018). Blockchain accounting the disruption ahead. The Management Accountant Journal, 6, 73-78.
Karajovic, M., Kim, H. M., Laskowski, M. (2019). Thinking outside the block: projected phases of Blockchain integration in the accounting industry. Australian Accounting Review. Vol. 29, No. 2, 319-330. DOI: https://doi.org/10.2139/ssrn.2984126
Sheldon, M. D. (2018). Using Blockchain to aggregate and share misconduct issues across the accounting profession. Current Issues in Auditing. Vol. 12, No. 2, 27-35. DOI: https://doi.org/10.2308/ciia-52184
Sinha, S. (2020). Blockchain – opportunities and challenges for accounting professionals. Journal of Corporate Accounting and Finance 31, 65-67. DOI: https://doi.org/10.1002/jcaf.22430
Kokina, J., Mancha, R., Pachamanova, D. (2017). Blockchain: emergent industry adoption and implications for accounting. Journal of Emerging Technologies in Accounting. Vol. 14 No. 2, 91-100. DOI: https://doi.org/10.2308/jeta-51911
Schmitz, J., Leoni, G. (2019). Accounting and auditing at the time of Blockchain technology: a research agenda. The Management Accountant Journal. Vol. 29 No. 2, 331-342. DOI: https://doi.org/10.1111/auar.12286
Kozlowski, S. (2018). An audit ecosystem to support Blockchain-based accounting and assurance book continuous auditing: theory and application. Continuous Auditing: Theory and Application (Rutgers Studies in Accounting Analytics), Emerald Publishing, Bingley, 299-313. DOI: https://doi.org/10.1108/978-1-78743- 413-420181015
Liu, M., Wu, K., Xu, J. (2019). How will Blockchain technology impact auditing and accounting: permissionless vs. permissioned Blockchain. Current Issues in Auditing. Vol. 13, No. 2, 19-29. DOI: https://doi.org/10.2308/ciia-52540
Gomaa, A.A., Gomaa, M.I., Stampone, A. (2019). A transaction on the Blockchain: an AIS perspective, intro case to explain transactions on the ERP and the role of the internal and external auditor. Journal of Emerging Technologies in Accounting. Vol. 16, No. 1, 47-64. DOI: https://doi.org/10.2308/jeta-52412
Tan, B.S., Low, K.Y. (2019). Blockchain as the database engine in the accounting system. Australian Accounting Review. Vol. 29 No. 2, 312-318. DOI: https://doi. org/10.1111/auar.12278
Wu, J., Xiong, F., Li, C. (2019). Application of internet of Things and blockchain technologies toimprove accounting. IEEE Access, 20, 1-10. DOI: https://doi. org/10.1109/ACCESS.2019.2930637
Pimentel, E., Bouliann, E. (2020). Blockchain in Accounting Research and Practice: Current Trends and Future Opportunities. Accounting Perspectives, 19 (3), 325– 361. DOI: https://doi.org/10.1111/1911-3838.12239
Alsaqa Zeyad, H., Hussein, A. I., Mohammed Mahmood, S. (2020). The Impact of Blockchain on Accounting Information Systems. Journal of Information Technology Management, 11, 62-80. DOI: https://doi.org/10.22059/jitm.2019.74301
Tiron Tudor, A., Deliu, D., Farcane, N., Donțu, A. (2021). Managing change with and through blockchain in accountancy organizations: a systematic literature review. Journal of Organizational Change Management. ahead-of-print. DOI: https://doi. org/10.1108/JOCM-10-2020-0302
Worldwide spending on blockchain solutions from 2017 to 2025. Statista. Retrevied from: https://www.statista.com/statistics/800426/worldwide-blockchain-solutions- spending/
B2B cross-border transactions on blockchain in various regions worldwide in 2020 with forecasts from 2021 to 2025. Statista. DOI: https://www.statista.com/ statistics/1228825/b2b-cross-border-transactions-on-blockchain-worldwide/
Zadorozhny, Z., Muravskyi, V. V., Shevchuk, O. A., Sudyn, Y. A. (2018). Management accounting of the settlements with contractors in innovative environment of business communications. Marketing and Management of Innovations, 2, 103-112. DOI: https://doi.org/10.21272/mmi.2018.2-09
