IA Foundation: Unlock the business of blockchain

Blockchain is a technology that is, for many, still difficult to grasp. It also raises the important question for internal auditors of what steps they should take in response to this radical technology.

The Internal Audit Foundation and Crowe have written the "Blockchain and Internal Audit" report to help with this challenge. The report explains the technology and specific risks of blockchain and aims to help internal auditors prepare for the adoption of blockchain and the development and implementation of controls.

"Though evidence suggests that the profession as a whole has not yet taken a leading role in this area, this 20-page research paper provides internal auditors in various types of organizations with a basic framework for assessing their current level of blockchain technology preparedness. The authors’ intent was to create a road map for developing audit plans that address potential issues as they are encountered."