You need conduct desk research and based this consider the topic provided

ACC5218 Auditing Practice

The assignment will be submitted via Turnitin. It is expected tha student scores will be below 20% (students need to allow 24 hours to resubmit, so don’t leave it to the last minute).
Referencing: The Harvard (AGPS) style - USQ Library's referencing guide at http://www.usq.edu.au/library/referencing

What is blockchain?
Give two examples of how businesses are using blockchain.

They might indulge into unethical and corruption practices and hence can disrupt the entire economical system of the nation. It is therefore advisable to the auditing company to avoid using Blockchain, unless these challenges are met with proper solution. They need to carry out their traditional method working approach that will ensure safety and security of all the transactions and procedures carried out in a given working scenario.

It is necessary for the government of all the nations to first verify the technology of Blockchain, provide legal status and only then allow Business Corporation to utilize it for business purposes. Researchers have claimed several negative impacts of Blockchain, and hence, there is a need of proper centralized regulatory authority that can monitor the transactions across the world. Further, the auditing teams need to collaborate with the accounting teams and the government and only then utilize the concept of Blockchain, if required. However, as of now, they can continue with their traditional working practices and approaches to complete the assigned tasks. It will subsequently help them achieve required objectives in a given working environment