The accounting profession is evolving in response to the use of blockchain technology in business. Choose from the list below how audit professionals are impacted by the use of blockchain.
A) Track and validate cryptocurrency transactions
B) Record transactions related to buying and selling cryptocurrencies
C) Simplify and automate tax compliance and transparency
D) Secured payments are sent to suppliers as soon as materials are received.

Question

Quizplus · Accepted Answer

Audit professionals are impacted by blockchain technology as it allows them to track and validate cryptocurrency transactions, ensuring accuracy and transparency in financial records.

The Accounting Profession Is Evolving in Response to the Use