Abstract
The objective of this study is to explain the impact of the internal control system on mitigating the technological risks of Blockchain. This is achieved by defining the concept of internal control, its types, and its components. Subsequently, the study clarifies the concept of Blockchain technology, how it operates, and its benefits, while also identifying the major risks associated with using Blockchain technology in internal control systems. The study highlights regulatory issues related to this technology and surveys a sample of academics and professionals in the Iraqi environment. The study utilized deductive methodology in the theoretical aspect and inductive (analytical) methodology in the practical aspect. Several statistical methods compatible with the study's objectives were employed, and the study arrived at several findings, the most significant of which is that the internal control system has a positive impact on reducing Blockchain technological risks or lowering them to an acceptable level. The study also made several recommendations, the most important of which is the necessity for internal control personnel to acquire the skills to deal with Blockchain technology risks. This can be achieved by enhancing their digital knowledge through specific training courses and programs on modern information technologies in general and Blockchain technology in particular.
