Blockchain in Auditing and Assurance: How do Smart Contracts Affect Accounting Firms in Switzerland?

Abstract

To date, the review of smart contracts is still a relatively new field. Due to the recent introduction of blockchain, its management is still unstructured, with not only different accounting firms but also different departments having their own approach to dealing with it. This leads to the assumption that inefficiencies can occur during the review process of smart contracts. Therefore, the objective of this paper is to capture and analyze the present situation of smart contracts in the audit and assurance environment.