Abstract
According to the 2016 Report to the Nations on Occupational Fraud and Abuse issued by the Association of Certified Fraud Examiners (ACFE) (http://bit.ly/2rOJGVC), the total loss caused by fraud events in 2016 exceeded $6.3 billion, with an estimated 5% loss of annual revenues in a typical organization. Furthermore, the risk of receiving checks without sufficient funds could be avoided. [...]blockchains not only increase the chance of detecting fraud, but also pressure management to reduce earnings manipulation. [...]the relevant criteria could be encoded in smart contracts to ensure all conditions have been met before recognizing any sales revenue. [...]smart contracts could add intelligence into accounting processes by integrating big data and predictive analytics. In reality, however, and especially in the adoption stage of a new technology, it is difficult to motivate a large number of enterprises to participate. [...]blockchain is more likely to be deployed and used among a limited number of pilot entities, which could collude to create fraudulent transactions.