Analysis of Smart contracts in blockchain for auditing big companies Análisis de los Smart contracts en blockchain para auditoría a grandes empresas

Abstract

This work studies the impact that the use of Smart contracts will have, from an audit perspective, for large companies in Colombia. Through interviews with 5 auditors and employees from a wide range of companies, multinational firms and industries, it was possible to identify their point of view about blockchain and Smart contracts, thus obtaining certain similarities and differences from both perspectives.

Likewise, the results show that the companies that were interviewed are rapidly adopting these types of disruptive technologies in their processes. Also, it was possible to analyze the main challenges they face, like the lack of regulation of a fully self-executing smart contract. Additionally, it was possible to identify the benefits the implementation of these technologies would bring to the companies, such as information transparency to their daily operation.

On the other hand, during the development of this work we analyzed the changes that would occur to certain procedures at an audit level and the mindset change those professionals from different areas of the business would have to do.