Depends on if authorities agree with that point of view. Accounting here needs to follow what can be translated as "Generally accepted accounting principles". If you do bookkeeping with pen and paper, you cannot erase a past mistake. You need to correct it with a new transaction. Basically, an append-only system is needed.
I don't really see how this is practically different from any other "accountant approved" software. Even if the user interface is "append only" you can modify the saved data whether it's saved in plain text, binary blob or a SQL server.
On pen and paper you can copy a new falsified ledger and throw away the original. I think that's fraud, so good luck with it.
If you do bookkeeping with pen and paper, you can throw away the page and replace it with a new piece of paper.
The security mechanism is out of band - you keep the pages secure, and you also reconcile / audit your accounts with those of your bank, suppliers, customers, etc - it's never 100% within the medium of the accounts themselves.
