Integration of Artificial Intelligence and Blockchain in Accounting: Towards Enhancing Transparency and Reducing Information Asymmetry

The issues of transparency and information asymmetry have been dominant in the accounting literature. These two notions are very important in boosting the confidence of accounting systems and financial market. Meanwhile, artificial intelligence (AI) has the potential to process, analyze, predict,andimprovemassivedatabases.Conversely,blockchaintechnologyhasgainedsignificant importanceduetoitsdecentralization,security,andconfidentiality,makingthesetwotechnologies crucial to the field of accounting.This paper will focus on examining how such integration of the twotechnologies has improved the situation in terms of enhancing transparency and decreasing information asymmetry within the accounting setting. To address the objectives and to test the hypotheses, a descriptive-analytical approach was adopted, and 140 questionnaires were used in collecting the data. The present paper shows a number of conclusive factors concerning the importance of integrating AI and blockchain to enhance information transparency and reduce asymmetryofinformation.Furthermore,theintegratingofthetechnologiesopensnewpossibilities of data processing that could not be realized by a particular technology on its own, and each integrating technology has the potential to augment the strengths of the other, generating a more complete picture offinancialdata. Thepapersuggestsdeveloping clear regulatoryframeworks for theutilizationofthesetechnologiesinaccountingtofollowitsordersandtoensuredataprotection. Also, it underlines the importance of training professionals in accounting and auditing to use AI and blockchain technologies in the best possible way and benefit the most from them.