The IIA, in collaboration with the Internal Audit Foundation and Crowe, conducted a limited survey of IIA members to get a read on current understanding and preparedness around their role in adopting blockchain.
The resulting report, Blockchain and Internal Audit, answers the question, “What steps, if any, should the profession be taking in response to this transformational technology?” It also addresses the following four key ideas:
- Understanding internal audit’s increasing role in transformational technology.
- Exploring the relevance of enterprisewide use of blockchain technology.
- Addressing blockchain’s challenges, risks, and threats for internal audit.
- Developing and implementing proper controls when preparing for blockchain adoption.
Though evidence suggests that the profession as a whole has not yet taken a leading role in this area, this report helps internal auditors understand specific risks and threats in developing and implementing proper controls as they begin to prepare for blockchain adoption.
The report can be downloaded here. 