Integrating Blockchain, IoT, and XBRL in Accounting Information Systems: A Systematic Literature Review

Over the last few decades, remarkable technical advancements, including artificial intelligence, machine learning, big data, blockchain, cloud computing, and the Internet of Things, have emerged. These tools have the ability to change the accounting process. This study aims to conduct a systematic l...

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Bibliographic Details
Published inJournal of risk and financial management Vol. 17; no. 8; p. 372
Main Authors Nofel, Mohamed, Marzouk, Mahmoud, Elbardan, Hany, Saleh, Reda, Mogahed, Aly
Format Journal Article
LanguageEnglish
Published Basel MDPI AG 01.01.2024
Subjects
Accounting procedures
Automation
Blockchain
Digital currencies
Extensible Business Reporting Language
Information systems
Internet of Things
Inventory
Literature reviews
Real time
Systematic review
Technology
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Summary:Over the last few decades, remarkable technical advancements, including artificial intelligence, machine learning, big data, blockchain, cloud computing, and the Internet of Things, have emerged. These tools have the ability to change the accounting process. This study aims to conduct a systematic literature review on using the Internet of Things (IoT), blockchain, and eXtensible Business Reporting Language (XBRL) in a single accounting information system (AIS) to enhance the quality of digital financial reports. This paper employs a systematic literature review (SLR) methodology, specifically, by adopting the widely accepted PRISMA technique. The final sample of this study included 309 related studies from 2013 to 2023. Our findings highlight the lack of literature related to the integration of these three types of technologies within a unified AIS. This study is extremely significant because it proposes a new research stream that explores the possibility of integrating IoT, blockchain, and XBRL in a single accounting system, yielding a plethora of benefits to the accounting field. However, the potential benefits of such an integration are evident, including enhanced transparency, real-time reporting capabilities, and improved data security. Our paper’s main contribution is that it is the first paper, to the best of our knowledge, to explore the integration of these three technologies. We also identified important gaps in the research and pointed out ways for future research to somehow take a lead in exploring further how this integrated system is affecting accounting practices.
ISSN:1911-8066
1911-8074
DOI:10.3390/jrfm17080372