The Economics of Trust: Blockchain Implementation Prospects in Accounting and Auditing Systems

Article DOI: https://doi.org/10.57017/jaes.v21.3(93).11

Author(s):

Olga IEVSIEIEVA NGO International Educators and Scientists Foundation, Kyiv, Ukraine
Ruslan TSEBEN Department of Accounting, Auditing and Taxation Khmelnytskyi National University, Khmelnytskyi, Ukraine
Oleh POLISHCHUK Department of Accounting and Taxation, Faculty of Economics and Entrepreneurship, Uman National University, Uman, Ukraine
Oleksandr ZADNIPROVSKY Faculty of Finance and Accounting, State University of Trade and Economics, Kyiv, Ukraine
Olena KUZMENKO Department of Accounting and Taxation, State University of Trade and Economics, Kyiv, Ukraine

Abstract:

The swift progression of digital technologies has accelerated the adoption of blockchain as a transformative innovation with significant implications for accounting and auditing systems. This study examines the economic and institutional prospects of blockchain implementation in accounting and auditing, with particular attention to the Ukrainian context. The research employs a mixed analytical approach combining a systematic literature review, comparative analysis, and regression modelling to evaluate the impact of blockchain adoption on operational efficiency, audit costs, transparency, and financial reporting reliability.

The research indicates that blockchain implementation is associated with reduced verification time, lower audit costs, enhanced data integrity, and improved transparency in financial reporting. Empirical results suggest that blockchain-based automation significantly improves auditing accuracy, reporting timeliness, and operational efficiency while reducing risks related to fraud, corruption, and information manipulation. In Ukraine, blockchain adoption aligns with ongoing digital transformation initiatives, including public-sector digitalization and financial transparency reforms.

The findings provide practical implications for businesses, policymakers, and educational institutions seeking to strengthen trust, efficiency, and accountability within financial reporting systems.

Copyright© 2026 The Author(s). This article is distributed under the terms of the license CC-BY 4.0., which permits any further distribution in any medium, provided the original work is properly cited.

Article’s History: Received 15th of May, 2026; Revised 19th of June, 2026; Accepted 26th of June, 2026; Available online: 30th of June, 2026. Published as article in the Volume XXI, Summer, Issue 3(93), 2026.

How to cite:

Ievsieieva, O., Tseben, R., Polishchuk, O., Zadniprovsky, O., & Kuzmenko, O. (2026). The Economics of Trust: Blockchain Implementation Prospects in Accounting and Auditing Systems. Journal of Applied Economic Sciences, Volume XXI, Summer, 3(93), 893 – 916. https://doi.org/10.57017/jaes.v21.3(93).11

Conflict of Interest Statement: The authors declare that they have no conflict of interest.

Data Availability Statement: The data used in this study were obtained from publicly available sources, including Statista, the World Bank Open Data platform, the National Bureau of Statistics of Ukraine, government open-data portals, and international institutional reports. The compiled datasets and analytical files used for the descriptive, comparative, and regression analyses are available from the corresponding author upon reasonable request.

Ethical Approval Statement: This study is based exclusively on secondary data obtained from publicly available academic, institutional, and professional sources, including international reports, government databases. The research did not involve human participants, animal subjects, surveys, interviews, experiments, or access to confidential personal information. Consequently, ethical approval from an Institutional Review Board (IRB) or Ethics Committee was not required. All data were collected and analysed in accordance with the terms of use of the respective data providers and the principles of research integrity, transparency, and reproducibility.

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