While blockchain technology is currently costly and complex, it has numerous potential benefits to improve internal control. An article by Ken Tysiac in the Journal of Accountancy entitled "Evaluating Blockchain and Internal Control Through a COSO Lens" discusses these potential benefits.

Instructions

Search for the Internet for the article and then describe the potential benefits of blockchain for each of the five primary components of internal control:

(1) control environment, 

(2) risk assessment, 

(3) control activities, 

(4) information and communication, 

(5) monitoring.