Created in 2008, Blockchain is a novel solution to the problem of trust (Voshmgir 2017) by the fa... more Created in 2008, Blockchain is a novel solution to the problem of trust (Voshmgir 2017) by the fact that the continuously growing distributed database are hardened against tampering and revision (Fanning and Centers 2016). For Voshmgir (2017), blockchain could disrupt traditional governance structures by reducing bureaucracy through lower transaction costs, solving principal-agent issues and moral hazard; thus, the impact of blockchain on the Audit function through the principal-agent problem. This article is a contribution to the little research made in this field; it will provide insight into how “Blockchains” work while exploring the common ground with the audit function through a principal-agent approach. By doing so, we aim to initiate a scholar curiosity of the potential of blockchain in audit by introducing new characteristics’ typology and a proposed model for blockchain and audit.
ABSTRACT While the Lebanese economy is in recession, the public sector employees are demanding a... more ABSTRACT While the Lebanese economy is in recession, the public sector employees are demanding a revision of their pay scale. the draft law of this new pay scale could not be voted in the parliament unless the financing of the salary increase is assured through different taxes and revenue sources. One of the sources suggested by parliamentarian committees to cover the new pay scale is a new tax on real estate which might affect the Lebanese real estate sector if no schemes for investment encouragement are going to be taken. The simulation application of the new tax on SOLIDERE, the largest real estate developer in the Lebanese market, demonstrates the negative impact of the new measure.
Created in 2008, Blockchain is a novel solution to the problem of trust (Voshmgir 2017) by the fa... more Created in 2008, Blockchain is a novel solution to the problem of trust (Voshmgir 2017) by the fact that the continuously growing distributed database are hardened against tampering and revision (Fanning and Centers 2016). For Voshmgir (2017), blockchain could disrupt traditional governance structures by reducing bureaucracy through lower transaction costs, solving principal-agent issues and moral hazard; thus, the impact of blockchain on the Audit function through the principal-agent problem. This article is a contribution to the little research made in this field; it will provide insight into how “Blockchains” work while exploring the common ground with the audit function through a principal-agent approach. By doing so, we aim to initiate a scholar curiosity of the potential of blockchain in audit by introducing new characteristics’ typology and a proposed model for blockchain and audit.
ABSTRACT While the Lebanese economy is in recession, the public sector employees are demanding a... more ABSTRACT While the Lebanese economy is in recession, the public sector employees are demanding a revision of their pay scale. the draft law of this new pay scale could not be voted in the parliament unless the financing of the salary increase is assured through different taxes and revenue sources. One of the sources suggested by parliamentarian committees to cover the new pay scale is a new tax on real estate which might affect the Lebanese real estate sector if no schemes for investment encouragement are going to be taken. The simulation application of the new tax on SOLIDERE, the largest real estate developer in the Lebanese market, demonstrates the negative impact of the new measure.
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