DISTRIBUTED LEDGER TECHNOLOGY ON FINANCIAL REPORTING ERRORS IN BANKS

The book by Dr. Anderson Emmanuel Oriakpono examines the transformative role of Distributed Ledger Technology (DLT) in reducing Financial Reporting Errors (FREs) in the banking sector. It investigates FRE causes such as omissions and principle violations using case studies from Enron Wells Fargo and Nigerian banks. DLT's transparency decentralization and automation are presented as solutions to financial reporting challenges. Practical applications like smart contracts immutable audit trails and real-time data sharing enhance accuracy compliance and efficiency. The book explores regulatory and ethical considerations including data privacy ownership and adherence to global standards. Balancing innovation with legal frameworks particularly in Nigeria is emphasized. Emerging trends such as AI integration and asset tokenization demonstrate DLT's potential to revolutionize financial systems while addressing operational inefficiencies and fostering trust.