Accounting and auditing of cryptocurrencies

It is thought that blockchain technology, which is expected to bring important innovations in ensuring transparency, accountability and reliability, will affect many areas. One of the areas affected by blockchain technology is accounting and auditing. Blockchain technology also brings forward a transformation in the field of accounting and auditing. Accounting and auditing of cryptocurrencies through this technology is one of the issues on the agenda. It is expected that this transformation will lead to reformation in accounting and auditing practices. First of all, it is intended to reach the information on how to achieve accounting of cryptocurrencies by using accounting principles and standards together with the classification to be made by determining which asset class the cryptocurrencies will be in. When the blockchain is specified as a transparent, distributed and publicly accessible accounting record system, all transactions performed on the network can be monitored by using this technology, and it allows the accounting transactions to be kept securely. In addition, the parties agree with each other, making it possible to make error-free records. The use of blockchain technology in the field of accounting and auditing has emerged as a result of the bilateral registration system, especially the recording and keeping of transactions made with cryptocurrencies. It is also the case that blockchain technology accounting can change the generally accepted two-way recording system and bring the three-dimensional accounting system to the agenda.