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Blockchain technology has been identified as one of the major developments of the upcoming years. Scholars and institutions are beginning to recognize the potential advantages of such technology and are investigating the ways in which it can revolutionize our world through a wide range of uses. However, there hasn’t been much progress made in taking blockchain technology from concept to manufacturing and acceptance. Blockchain technologies may have a significant impact on auditing by lessening the burden of auditors, assisting in the reduction of fraud, and streamlining current procedures. Auditors are required to evaluate transactions between clients and make sure that pertinent, trustworthy, unbiased, accurate, and verifiable data is used to support audit opinions regarding the financial report’s layout. Blockchain-based transaction records might provide enough proof to evaluate internal oversight. The following paper aims to explore how blockchain technology will affect the audit industry in terms of implications, applications as well as challenges.
Keywords: Blockchain technology, Auditing, Financial Reports, Frauds.
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Central Bank Digital Currency (CBDC) is a digital version of tradition fiat issued and backed by central bank. This is a sovereign currency that the central bank issue with respect to their monetary policy. The currency will be accepted as a legal tender, a medium of payment and safe store of value for government agencies, businesses and citizens. CBDC is under the authority of Central Government, it is less prone to volatility as compared to Cryptocurrencies like Bitcon, Ethereum, etc. CBDC use advanced encryption techniques to secure transactions and prevent fraud. Although CBDC has some disadvantages but it is much beneficial towards digitization in India. It would help to boost the digital economy and also make the currency management system cheaper and more efficient.
Keywords: CBDC, Indian Rupee, RBI, Blockchain Technology, Cybersecurity
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Blockchain technology has been identified as one of the major developments of the upcoming years. Scholars and institutions are beginning to recognize the potential advantages of such technology and are investigating the ways in which it can revolutionize our world through a wide range of uses. However, there hasn’t been much progress made in taking blockchain technology from concept to manufacturing and acceptance. Blockchain technologies may have a significant impact on auditing by lessening the burden of auditors, assisting in the reduction of fraud, and streamlining current procedures. Auditors are required to evaluate transactions between clients and make sure that pertinent, trustworthy, unbiased, accurate, and verifiable data is used to support audit opinions regarding the financial report’s layout. Blockchain-based transaction records might provide enough proof to evaluate internal oversight. The following paper aims to explore how blockchain technology will affect the audit industry in terms of implications, applications as well as challenges.
Keywords: Blockchain technology, Auditing, Financial Reports, Frauds.
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Article 21 of the Constitution of India recognises right to life and liberty as a fundamental right. The word ‘life’ holds a world of meaning. Ranging from merely breathing to euthanasia, from protecting one’s dignity to guarding privacy, from right to reputation to right to social security, Article 21 includes all.
In today’s digital era, Artificial Intelligence (AI) has added new dimensions to our lives making work easier. But on the flip side, we now have new types of crimes such as deepfakes (pictures and videos), copying voices of people to create false fear and extorting money, imposing images on personal photographs to malign someone’s reputation, etc. To deal with this and several other such challenges, it is necessary to have a comprehensive law that recognizes digital privacy as a right. This chapter throws light on the different ways in which a person’s privacy is invaded in the techno driven world. It draws attention to the need for protecting personal data, respecting privacy and India’s legal framework in this context.
Key Words: digital privacy, Digital Personal Data Protection Act, 2023, right to privacy
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Accounting is the language of business. It plays vital role in each and every field such as industry, business, banking, medical, farming etc. At the initial phase single entry system was used to keep the record of accounting. After the introduction of double entry system by Lucas Pacioli the father of Accounting and Book-keeping it is developed as profession. In the recent period many drastic changes were happened in the field of accounting. The increased growth of industrialization the importance of accounting is increasing day by day. To make accounting task easy and simple many accounting software were developed. The present research paper is an attempt to identify and highlight the recent changes in the field of accounting. The data required for the study is collected from the secondary data sources.
Keywords: Accounting, Block Chain, Online, Automated Processes, Artificial Intelligence
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