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

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posted on 2024-10-01, 11:18 authored by Mohamed Nofel, Mahmoud MarzoukMahmoud Marzouk, Hany Elbardan, Reda Saleh, Aly Mogahed
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.

History

Citation

Nofel, M.; Marzouk, M.; Elbardan, H.; Saleh, R.; Mogahed, A. Integrating Blockchain, IoT, and XBRL in Accounting Information Systems: A Systematic Literature Review. J. Risk Financial Manag. 2024, 17, 372. https://doi.org/10.3390/jrfm17080372

Author affiliation

College of Business/Accounting & Finance

Version

  • VoR (Version of Record)

Published in

Journal of Risk and Financial Management

Volume

17

Issue

8

Pagination

372 - 372

Publisher

MDPI AG

eissn

1911-8074

Acceptance date

2024-08-16

Copyright date

2024

Available date

2024-10-01

Language

en

Deposited by

Dr Mahmoud Marzouk

Deposit date

2024-08-29

Data Access Statement

Data available on request from the authors.

Rights Retention Statement

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