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612-822-4611
Distributed Ledger Technology on Financial Reporting Errors in Banks

Distributed Ledger Technology on Financial Reporting Errors in Banks

Paperback

Accounting

ISBN10: 6139463599
ISBN13: 9786139463596
Publisher: LAP Lambert Academic Publishing
Published: Dec 16 2024
Pages: 96
Weight: 0.33
Height: 0.23 Width: 6.00 Depth: 9.00
Language: English
The book by Dr. Anderson Emmanuel Oriakpono examines the transformative role of Distributed Ledger Technology (DLT) in reducing Financial Reporting Errors (FREs) in the banking sector. It investigates FRE causes, such as omissions and principle violations, using case studies from Enron, Wells Fargo, and Nigerian banks. DLT's transparency, decentralization, and automation are presented as solutions to financial reporting challenges. Practical applications like smart contracts, immutable audit trails, and real-time data sharing enhance accuracy, compliance, and efficiency. The book explores regulatory and ethical considerations, including data privacy, ownership, and adherence to global standards. Balancing innovation with legal frameworks, particularly in Nigeria, is emphasized. Emerging trends such as AI integration and asset tokenization demonstrate DLT's potential to revolutionize financial systems while addressing operational inefficiencies and fostering trust.

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Oriakpono, Anderson Emmanuel

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Accounting