The Bitcoin network is a sophisticated accounting system that facilitates consensus
and verification of transactions through cryptographic proof, eliminating the need
for a central authority. Given its success, the underlying technology, generally referred
to as blockchain, has been proposed as a means to improve legacy accounting and reporting
systems. However, integrating real-world data into a blockchain requires the use of
oracles: third-party systems that, if poorly selected, may be less decentralized and
transparent, potentially undermining the expected benefits. Through a systematic review
of the existing literature, this study investigates whether research articles on the
integration of blockchain technology in accounting and reporting have addressed the
limitations posed by oracles, under the rationale that the omission of oracles constitutes
a theoretical bias. Furthermore, this study examines oracle-based solutions proposed
for reporting applications and classifies them based on their intended purpose. While
the overall consideration of oracles remains limited, the findings indicate a steadily
increasing interest in their role and implications within accounting, auditing, and
ESG-related blockchain implementations. This growing attention is particularly evident
in ESG reporting, where permissioned blockchains and attestation mechanisms are increasingly
being examined as practical responses to data verification challenges.
