Digital transformation of accounting through blockchain technology: Evidence from Saudi Arabia

BC innovation is increasingly recognized in the accounting domain as a transformative technology with significant implications for accounting practices. This research aims to examine the potential digital transformations in Saudi businesses regarding the integration and adoption of BC technology into accounting practices. To analyze the associations between variables, the research design employs a quantitative method using PLS-SEM by Smart-PLS. Data were collected from a convenience sample of 208 respondents employing a standardized questionnaire. The results reveal that budgeting processes, transaction recording, and accounting adjustments, as well as BC's awareness, are positively influenced by the adoption of BC innovation. The findings, however, indicate that accounting operations should further support their innovative capabilities to remain aligned with rapid technological advancements. These results contribute to the existence of a stock of knowledge on the use of BC in accounting and auditing, also delivering empirical evidence of its benefits in an emerging nation The study has practical implications for accountants, businesses, policymakers, and researchers. The results can help businesses in efficiently gaining an advantage from BC developments to promote their accounting processes. Policymakers can adopt these outcomes to establish supporting regulations and frameworks that motivate the adoption and integration of BC innovation in the domain.