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2020 | OriginalPaper | Buchkapitel

Bye Audit! A Novel Blockchain-Based Automated Data Processing Scheme for Bank Audit Confirmation

verfasst von : Xiaoyan Chu, Tao Jiang, Xiaohu Li, Xiaowei Ding

Erschienen in: Blockchain Technology and Application

Verlag: Springer Singapore

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Abstract

An audit confirmation letter is an inquiry that an auditor sends to a third party to verify the contents of accounting records of the entity that is being audited. Traditional process for delivering the paper confirmation is unnecessarily inefficient, relying much on manual processes and other outdated technologies, making it also vulnerable to fraudulent activities. In this paper, we adopt blockchain technology to address the low-efficiency and fraud risk in conventional bank confirmation process. Our solution involves two processes: Authorization Process and Data Acquisition Process. We integrate smart contract into these processes for automated authorization and automated data acquisition. We implemented our solution based on the open source FISCO-BCOS platform and used simulation of auditing process to prove its feasibility. Our evaluation benchmarks include latency and storage efficiency. The result shows that our system can support long-term stable operation.

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Metadaten
Titel
Bye Audit! A Novel Blockchain-Based Automated Data Processing Scheme for Bank Audit Confirmation
verfasst von
Xiaoyan Chu
Tao Jiang
Xiaohu Li
Xiaowei Ding
Copyright-Jahr
2020
Verlag
Springer Singapore
DOI
https://doi.org/10.1007/978-981-15-3278-8_5

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