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 Model for Predicting Auditor Intention to Adopt Blockchain
Bambang Leo Handoko
Accounting Department, Faculty of Economics and
Communication, Bina Nusantara University, Jakarta,
Indonesia, 11480
Lavie Audy Altriana Mozes
Accounting Department, Faculty of Economics and
Communication, Bina Nusantara University, Jakarta,
Indonesia, 11480
ABSTRACT
We research on the adoption of Blockchain Technology (BC) used
by auditors because BC has the power in essentially transform the
audit industry. At an early stage we examined the knowledge held
by auditors in accounting and audit, their legality of using software
of accounting, and their knowledge of BC. We use this aspects
because they have positive impact on the auditor’s intention to
adopt BC. We also examine the auditor’s judgment regarding the
sample size of the transactions taking into account the concept of
materiality. Ultimately, we consider the role of the auditor’s degree
of professional skepticism (PS), which is defined as a professional
standard that critically assesses existing evidence and questions
minds. We assume that materiality and Professional Skepticism
have a negative impact on BC adoption. Questionnaire to survey
was conducted on external auditors, aims to obtain empirical data
that can verify our research model. Our research’s intention is to
analyze extant research about blockchain technology, also assess
the impact of blockchain in the audit profession, also to identifies
several important components that can influence auditors to adopt
BC and provides guidance for research and practice.
CCS CONCEPTS
• Applied Computing; • Computer Forensic; • Evidence Col-
lection Storage and Analysis;
KEYWORDS
Blockchain Technology, Adoption, Auditing, Audit Judgement, Pro-
fessional Skepticism
ACM Reference Format:
Bambang Leo Handoko, Reyner Leonardo Tjandra, Lavie Audy Altriana
Mozes, and Giovani (Mei Giok). 2020. Model for Predicting Auditor Intention
to Adopt Blockchain. In 2020 2nd International Conference on E-Business and
E-commerce Engineering (EBEE 2020), December 29–31, 2020, Bangkok, Thai-
land. ACM, New York, NY, USA, 7 pages. https://doi.org/10.1145/3446922.
3446930
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classroom use is granted without fee provided that copies are not made or distributed
for profit or commercial advantage and that copies bear this notice and the full citation
on the first page. Copyrights for components of this work owned by others than ACM
must be honored. Abstracting with credit is permitted. To copy otherwise, or republish,
to post on servers or to redistribute to lists, requires prior specific permission and/or a
fee. Request permissions from permissions@acm.org.
EBEE 2020, December 29–31, 2020, Bangkok, Thailand
© 2020 Association for Computing Machinery.
ACM ISBN 978-1-4503-8892-4/20/12. . . $15.00
https://doi.org/10.1145/3446922.3446930
Reyner Leonardo Tjandra
Accounting Department, Faculty of Economics and
Communication, Bina Nusantara University, Jakarta,
Indonesia, 11480
Giovani (Mei Giok)
Accounting Department, Faculty of Economics and
Communication, Bina Nusantara University, Jakarta,
Indonesia, 11480
1 INTRODUCTION
It is generally known that working as an Auditor profession is con-
sidered as a stressful job because it is always characterized by heavy
workloads, lots of deadlines and commitment to the organization.
This can also happen especially during the peak season, which is a
factor in the overload of work. Workload refers to how great the
job task is, employees give respond to workload differently. Some
employees embrace workload, but some other find it frustrating. An
increase in workload, can affects the employee’s performance [1],
it can cause mental stress for employees who cannot embrace it. In
particular, the public auditors are oftentimes work under pressure,
it aims to make quality audit.
In terms of auditing, time budget pressure can be interpreted
because of the audit firm and auditor attempted to lower audit fees
and try to give service to client. Auditors often work in a limited
time, the auditor needs to estimate the time needed in auditing
activities to make a proper time budget [2]. This time budget is
needed to determine audit fees and measure the effectiveness of
auditor performance. However, the time budget is often unrealistic
with the work that must be done, as a result counterproductive
behaviors appear which cause the auditor’s performance to be not
maximal so that the audit quality is low. As a result, it creates
pressure on the auditor to meet the time budget. Time budget
pressure could increase auditors ‘stress level and as a result, it will
reduce their job performance. Auditor time budget can be tightened,
this could happen when auditors use their leisure to finish their
work to meet the targeted deadline and do not report the actual
time that they spent on the audit process. If the auditor says less
time than the budgeted time, then, in the future, the time budget
can be tightened up, which create additional pressure on the auditor.
Those kind of pressure may cause auditors to fail in performing
their expected work. Even more, time pressure can cause auditors to
behave unprofessionally. Consequently in a respond to time budget
pressure, first, auditor behavior tends to reduce the audit quality,
such as accepting client statement as it is. Second, the auditors will
do premature sign-offs. Hence, both consequences can lead to audit
quality reduction [3].
In 2020, COVID-19 pandemic that is currently hitting all coun-
tries in the world, of course this has resulted in a weakening of
the economic conditions of the entire world community. Many
also assure that COVID-19 is not yet a crisis in financial, but there
will be a greater risk as a result of this health epidemic which will
cause damaged and the effects of the COVID-19 pandemic will
be a very tough challenge for auditors and clients compared to
EBEE 2020, December 29–31, 2020, Bangkok, Thailand
the global financial crisis in 2007-2008 [4]. Work-from-home and
social-distancing are ways that are considered effective to reduce
the spread of the COVID-19 outbreak, this of course makes it dif-
ficult for auditors to do their job in observing clients. The quality
of audit evidence is very important, so due to COVID-19 auditors
tend to use evidence obtained directly from external parties such
as customers, suppliers or banks, compared to those obtained from
client [5]. In addition, a copy invoice sent by email will affect the
reliability of the audit evidence which consequently can affect the
quality of the audit [6]. Expected that digital programs can be used
more to help make work easier in the midst of COVID-19, such as
artificial intelligence, blockchain, and network security which are
considered capable of helping auditors and clients communicate
more easily. The outbreak of this pandemic adds to the work for au-
ditors and adds more pressure to be able to complete audits before
the deadline.
As previously mentioned, one of the technologies that really
helps auditors is blockchain. Blockchain can be concluded as a digi-
tal ledger that allows real-time capture of transactions between mul-
tiple parties and functions as a decentralized database where each
participant keeps an identical copy of the ledger [7]. Blockchain is
an accounting-based technology, because it deals with the transfer
of ownership of assets, as well as how to maintain a ledger of finan-
cial information so that it is always accurate. All information that is
already on the blockchain cannot be deleted because it is permanent,
this of course makes it easier for auditors to check transactions and
can make auditors focus more on existing problems. With the use
of blockchain, auditors can be expected to work optimally even
though they cannot access physical data directly on the client. For
this reason, we wanted to examine whether blockchain was truly
effective in assisting auditor’s performance during the Covid19
pandemic.
2 LITERATURE REVIEW AND HYPOTHESIS
2.1 Technology Acceptance Model (TAM)
TAM is a theory that indicates how users of a technology can accept
and use a technology. TAM was first introduced by [8], when users
are exposed to the new technology, there are some factors that can
affect their decision, when and how they will use the technology.
Using advanced technology, organizations become more dependent
on information systems. When companies use this system in their
business (in financial or non-financial transactions), For this data
to be effective managed, this led to the idea of adopting computer
technology or applications in data analysis. [9] According to TAM,
there are two factors in the acceptance of a technology; 1. Perceived
usefulness, it can be said as when someone believes that using a
certain system will improve their performance, 2. Perceived Ease-
Of-Use, when someone believes that a certain system is effortless.
In our research, Blockchain is one of the technologies that we will
examine what are the factors of the auditors that affect the adoption
of Blockchain Technology.
2.2 Effect of Knowledge in Accounting to
Blockchain Adoption Intention
On audit terms, Blockchain can be utilized as an audit trail, under
traditional and nontraditional audit processes [10]. It very well
Bambang Leo Handoko et al.
may be executed related to traditional auditing procedures when
presented. Larger sized entities are introducing this innovation with
modernize their tasks. Accounting Data Analytics and insights from
big data can afford added information to auditors and strengthen
the auditors’ analytical procedures. The validity of information is
an important factor for auditors in attestation activities.
By using Blockchain, each transaction can be traced and verified
instantly and permitted automated audits with the standardization
of the practice; and altering or falsifying the accounting records
would be extremely difficult if not impossible. Having information
available for decision-makers does not assure effective decisions, as
the information must be processed, analyzed, and made useful for
decision-makers. Because of that, the potential effects of Blockchain
on auditing work, auditors must make rational decision-making
regarding its adoption.
Since BC represents an innovative technology in auditing, past
knowledge, and experience with accounting software may also
help auditors better understand the comparative advantages of
Blockchain. Even though the application of Blockchain is still at
its commencement stage, acquiring knowledge on it would help
auditors better understand its features and use and make a better
judgment in its adoption. Knowledge in accounting rules, account-
ing/auditing software, Blockchain and related technologies affect
in parallel to assist auditors to make an informed decision about
when and how to adopt Blockchain.
H1: Effect of Knowledge in Accounting to Blockchain Adoption
Intention
2.3 Effect of Computer Literacy to Blockchain
Adoption Intention
Recently, the knowledge of computer literacy is quite fundamental.
Furthermore, computer literacy nessecary is a continuity, the pop-
ulation is expected to have sufficient skills and knowledge while
using information technology, especially computers [11].
According to [12] the intention and behavior of using the com-
puter literacy is very much entrusted with trust, so trust is the most
essential element of blockchain technology, meaning trust in the
righteousness with the information contained in the blockchain.
For that reason, users trust blockchain technology with purpose it
could encourage the using of blockchain.
As the result, by understanding the concept of computer literacy,
we can understand how blockchain technology works. We can also
trust that blockchain technology helps the auditors work compre-
hensively, which in turn can make auditors more focused on the
problem at hand.
H2: Effect of Computer Literacy to Blockchain Adoption Inten-
tion
2.4 Effect of Knowledge in Blockchain to
Blockchain Adoption Intention
The knowledge of blockchain is indispensable in order to be able to
use blockchain technology. There are many advantageous that can
be felt when using blockchain, such as a format that is resilient and
irrevocable. The main requirement in Knowledge in Blockchain
is the ability to be able to uniquely identify any element into the
conceptual model. In addition, an important feature is being able
Model for Predicting Auditor Intention to Adopt Blockchain
to determine in great detail that allowed to make changes to the
blockchain, where these rights are described in the permission
model which is an inherent part of each existing block [13].
According to [12], the intention to adapt blockchain has a pos-
itive impact on trust, convenience, facility conditions and opera-
tional usability, while costs have a negative impact.
By knowing what blockchain is, as well as knowing what are
the weaknesses and strengths of this technology, auditors can use
blockchain to help their work because they already understand
deeply what its weaknesses are.
H3: Effect of Knowledge in Blockchain to Blockchain Adoption
Intention
2.5 Effect of Audit Judgement to Blockchain
Adoption Intention
Audit judgment is one of the auditor’s points of view or considera-
tion in responding to information that affects the evidence docu-
mentation and the auditor’s opinion decision maker on the financial
statements of an entity. [14] Stated that in audit context, using au-
tomated accounting report makes auditor judgement process easier
and effective than manual report. A person would have intention
behavior and potentially adopt a technology if the person believes
that the technology would help to undertake tasks without difficulty.
In this case, we hypothesize that it has an effect on the adoption of
Blockchain Technology.
H4: Effect of Audit Judgement to Blockchain Adoption Intention.
2.6 Effect of Professional Skepticism to
Blockchain Adoption Intention
Professional skepticism is a figure that includes a questioning mind,
alert to the conditions and situations the possibility if there is any
material misstatement caused by mistake or intent, and assessment
of audit evidence critically.
In order to reduce the existence of misstatements or mis-
detection, in exercising professional skepticism, auditors require
substantial evidence to justify their audit opinion [15]. The Public
Company Accounting Oversight Board suggests for accountants in-
crease their Professional Skepticism level when sufficient evidence
in transaction is unavailable. IAASB also emphasizes the impor-
tance of professional skepticism. It states that auditors must plan
and carry out the audit process based on professional skepticism.
There are 2 views of Professional Skepticism, neutrality and pre-
sumptive doubt. [16] States that there should be no bias in terms
of trust a trusting or suspicion. Auditors should endeavor to be
impartial in forming their beliefs. This is the main focus of current
audit standards. Under this neutrality perspective, evidence needs
to be evaluated by the auditor to validate management’s assertions.
In presumptive doubt perspective. [17] assert that auditors with pre-
sumptive doubt assume bias by management, unless the evidence
shows otherwise.
H5: Effect of Professional Skepticism to Blockchain Adoption
Intention.
EBEE 2020, December 29–31, 2020, Bangkok, Thailand
2.7 Effect of Knowledge in Accounting to
Professional Judgement
Public accountant knowledge can be obtained from various formal
education and training as well as from special experience, in the
form of seminars, workshops and briefings from senior auditors to
junior auditors. Knowledge can also be obtained from frequency
a public accountant doing the job in the audit process. Someone
who does work according to that knowledge it will yield more
results better than those who don’t sufficient knowledge would
be duties. Auditors must have undergone education and sufficient
technical training in practice accounting and auditing techniques
so capable carry out their duties properly and come out with a
Professional Judgement. Differences knowledge among auditors
will affect the auditor’s way finish a job [18]. Furthermore explained
that an auditor will be able finish a job effectively if supported by
that knowledge it has. Level-wise auditors high knowledge will
behave appropriate according to perceptions and expectations.
H6: Effect of Knowledge in Accounting to Professional Judge-
ment
2.8 Effect of Knowledge in Accounting to
Professional Skepticism
Accounting as the method of recording, classifying, summarizing re-
porting and analyzing an organization’s monetary data. Meanwhile,
accounting is a method of recording, grouping, and summarizing
monetary occasions in an orderly and logical shape with the goal
of presenting the monetary statistics needed for decision making.
Basically, accounting must identify which data is related or relevant
to the decision to be taken, then process or analyze relevant data,
and convert the data into information that can be used for decision
making. Meanwhile, SPAP (Public Accountant Professional Stan-
dards) states the professional auditor’s skepticism as an attitude
that includes a mind that always questions and evaluates critically
on existing audit evidence. So it can be concluded that to produce
maximum audit evidence, auditors need a good attitude of skepti-
cism to always question something if there is something strange in
auditing a company. Of course, the presence of skepticism needs
to be supported by good accounting knowledge in order to reveal
client fraud if the client is indeed cheating.
H7: Effect of Knowledge in Accounting to Professional Skepti-
cism
3 RESEARCH METHODOLOGY
In doing this research, the researcher has been using the quanti-
tative methods. According to [20], quantitative research centers
around objectivity and is particularly suitable when there is the
chance of gathering quantifiable proportions of variables and in-
ferences from tests of a population, and also adopts structured
procedures and formal instruments for data collection. There are
two types of source of data in this observation and those are primary
and secondary data.
Primary data collection is cost consuming and might be influ-
enced by various kind of bias. Selection bias, recall bias or social de-
sirability bias are examples [21]. This observation has been utilised
the primer data and the researcher gained the data by doing ques-
tioner with the respondent who works in Accountancy firm.
EBEE 2020, December 29–31, 2020, Bangkok, Thailand Bambang Leo Handoko et al.

Table 1: Operation of Variable

Variable Indicator Reference

Blockchain Adoption Intention Specific Technological [23]
Organizational
Environmental
Knowledge in Accounting Previous Studies [24]
Methodology of the Study
Computer Literacy Computer Education [25]
Computer Experience
Personal Innovativeness in IT
Knowledge in Blockchain Innovative technology in Auditing [19]
Past knowledge
Experience with Accounting
Professional Skepticism Level of fraud. [26]
Selection of Audit Procedures.
Partner’s emphasis.
Audit Judgement Learning goal orientation (LGO). [27]
Performance-approach goal orientation.
Performance-avoidance goal orientation.
Self-Efficacy.

Secondary data constitute an elective information source, being
information which as of now exist, using them bears the possibility
to be very resource-efficient, and by using questionnaires it is possi-
ble to collect information specially tailored to the research question
[22]. In this research, the secondary data has been collected from
the online journal or literature.
The sampling method used in our research is take an approach.
It is because the population is unknown, the number of auditors
in public accounting firm is increasing and decreasing every day
(join and resign). Roscoe provides guidance for determining sample
size, he stated that the sample for the unknown population is at
least over 30, sample sizes greater than 30 and less than 500 are
appropriate for most studies. In our research, we determined that
our sample is 50 respondents.
Structural Equation Modeling which more known as SEM is
a technique statistical analysis used for build and test statistical
models in the form of causal models. Structural Equation Modeling
(SEM) recognized as a second-era multivariate statistics evalua-
tion technique that regularly utilized in advertising studies due to
the fact, it could check theoretically supported linear and additive
causal models. With SEM, entrepreneurs can visually have a look
at the relationships that exist amongst variables of hobby with
the intention to prioritize sources to higher serve their customers.
The reality that unobservable, hard-to-degree latent variables may
be utilized in SEM makes it perfect for tackling commercial en-
terprise studies problems. One of the technique of SEM is Partial
Least Squares (PLS), which makes a speciality of the evaluation
of variance and may be done the usage of PLS-Graph, VisualPLS,
SmartPLS, and WarpPLS. It also can be hired the usage of the PLS
module in the “R” statistical software program package. Besides that,
PLS is beneficial for structural equation modeling in implemented
studies initiatives specially whilst there are constrained members
and that the statistics distribution is skewed, e.g., surveying lady
senior govt or multinational CEOs [21]. On the alternative hand,
many human beings the usage of SmartPLS and due to the fact it’s
far freely to be had to the studies network throughout the globe.
Furthermore, this software program has maintained an energetic
on line dialogue forum, and imparting an awesome platform for
information alternate amongst its users.
Operationalization of the variables needed to determine types
and indicators of the variables associated in this study. Based on
Table 1 below, it shows that operationalization of the variables
determined types and indicators of the variables associated in this
study. Operationalization of the variables aims to determine the
measurement scale of each variable, so that testing the hypothesis
using the tool help can be done appropriately.
4 RESULTS AND DISCUSSION
4.1 Overview of Respondent
Respondents in our study are the auditors in public accounting
firms. The following is the distribution of our respondents.
Source: Data processed
Based on the table 2 above, it can be concluded that female
respondents have a greater number than male respondents and
most respondents are much less 25 years old. Most of respondents
who work as auditors have positions as junior auditors and most
respondents have under 1 year of experience in their profession.
4.2 Validity Test
Table 3 shows the Convergent Validity, is how closely the new scale
is related to other variables and other measures of the same contruct,
also Table 4 shows the Discriminant Validity, is loading factor value
on latent variable with its indicators. Based on those tables, there are
two sorts of validity, convergent validity and discriminant validity.
Convergent validity implies that a bunch of pointers speaks to
Model for Predicting Auditor Intention to Adopt Blockchain EBEE 2020, December 29–31, 2020, Bangkok, Thailand

Table 2: Overview of respondent

Gender Amount Age Amount

Male 11 < 25 44
Female 41 25 – 30 2
Position 30 – 35 3
Junior Auditor 43 35 – 40 2
Senior Auditor 5 > 40 1
Manager 1 Work Experience
Partner 3 <1 38
1–5 10
> 10 4

Table 3: Convergent Validity 4.3 Reliability Test

Based on the results of the reliability test data on table 5 it tends to
Variables Average Variant Extracted be presumed that the sum total of what factors have Cronbach’s
(AVE) alpha numbers above 0.6 and composite dependability above 0.7
Knowledge in Accounting 0.750 which implies that everything factors can be deciphered as reliable.
Computer Literacy 0.652 Source: Data processed
Knowledge in Blockchain 0.763
Professional Scepticism 0.721
4.4 Multicollinearity Test
Audit Judgement 0.626 Based on Table 6, it shows the Multicollinearity brings about a
Blockchain Adoption 0.694 change and signs also in the extents of the partial regression coef-
Intention ficients starting with one example then onto the next example to
another example. Hence, the relationships between instructive vari-
ables might have a solid effect on the analysis although self-effacing
presumptions from a statistical perspective and regression solu-
Table 4: Discriminant Validity tions are outreached without any issues. Multicollinearity test is
employed to work out the existence or absence of multicollinearity.
Indicator Outer Loading Indicator Outer Loading Source: Data processed

X1_1 0.840 Z1_1 0.908 4.5 Determination of Coefficient

X1_2 0.892 Z1_2 0.798
This research is in multivariate form which is there is more than
X2_1 0.798 Z1_3 0.837
one variable to anticipate the studies result. The first independent
X2_2 0.880 Z2_1 0.817
variable is knowledge in accounting and the second one is computer
X2_3 0.738 Z2_2 0.737
literacy.
X3_1 0.939 Z2_4 0.816
Source: Data processed
X3_2 0.856 Y1_1 0.813
Based upon table 7, the R squared is the proportion of variance in
X3_3 0.822 Y1_2 0.831
the dependent variable that can be predicted from the independent
Y1_3 0.854
variable. also it can be concluded that Knowledge in Accounting,
Computer Literacy, Knowledge in Blockchain, Professional Skepti-
cism and Audit Judgment have influence on blockchain adoption
intention by 56.9%, knowledge in accounting has influence profes-
one inactive variable and which underlies the latent variable. The sional scepticism 3.4% and audit judgment 28.8%. and the remaining
portrayal can be shown through one-dimensionality which can factors are influenced by other variables outside this study. It is
be communicated utilizing the normal estimation of the removed expected that in further research, the researcher adds the indepen-
variation (Average Variance Extracted/AVE). The AVE value is at dent variable to other variables to evaluates more the influence to
the minimum 0.5. dependent
While discriminant validity is an extra idea which implies that
two reasonably various ideas must show sufficient separation. The 4.6 Hypothesis Testing
fact is that the arrangement of pointers joined isn’t relied upon to be In this study, we use t test on testing the hypothesis. The T table
one-dimensional. Discriminant validity test is evaluated dependent value is 1.96. If the t arithmetic is greater than the t table, it can
on cross stacking estimations with its develop. be said the exogenous variables affect the endogenous variables
Source: Data processed significantly and the significance value of p-value is below 0.05.
Source: Data processed Source: Data Processed
EBEE 2020, December 29–31, 2020, Bangkok, Thailand Bambang Leo Handoko et al.

Table 5: Cronbach’s Alpha and Composite Reliability

Variables Cronbach’s Alpha Composite Reliability

Knowledge in Accounting 0.669 0.750
Computer Literacy 0.731 0.652
Knowledge in Blockchain 0.850 0.763
Professional Skepticism 0.807 0.721
Audit Judgement 0.701 0.626
Blockchain Adoption Intention 0.781 0.694

Table 6: Multicollinearity Test

Variable Variance Inflation Factor

Blockchain Adoption Intention Professional Skepticism Audit Judgement
Knowledge in Accounting 1.701 1.000 1.000
Computer Literacy 1.823 - -
Knowledge in Blockchain 1.610 - -
Professional Skepticism 1.148 - -
Audit Judgement 1.961 - -

Figure 1: Research Path Coefficient.

Based on the table 8 above, the conclusion is that Knowledge in
Accounting influences the Audit Judgement and Computer Literacy
influences the Blockchain Adoption Intention because as we can
see from the result, the t arithmetic is greater than the t table and
the significance value of p-value is below 0.05. The results of the
path coefficient using SEM (structural equation modelling) from
our study.
Research Path Coefficient on Figure 1 showing the direct effect
of an independent variable on a dependent variable in path model.
This model is made with SmartPls.
 Model for Predicting Auditor Intention to Adopt Blockchain EBEE 2020, December 29–31, 2020, Bangkok, Thailand

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