The United States' Experience in Utilizing Blockchain to Enhance Data Security in Internal Auditing

Abstract

Abstract: This study explores the role of blockchain technology in enhancing data security within internal auditing in the United States. Blockchain, as a decentralized and immutable ledger system, offers significant benefits in maintaining data integrity and transparency. The paper discusses how blockchain can automate certain auditing functions, provide real-time assurance, and ensure the security of sensitive audit data. It highlights case studies involving federal agencies and private companies that have implemented blockchain to enhance secure auditing practices. Despite the potential benefits, challenges such as regulatory compliance, technology adoption costs, and infrastructure adequacy are identified. The study concludes that blockchain technology can significantly enhance data security and efficiency in internal auditing but requires further research and strategic planning to overcome existing challenges.