Deloitte: Pro Audit Standards “Benefit Blockchain Principles”
Global consultants Deloitte have announced the successful completion of their latest test project which brings “professional audit standards to Blockchain transactions.” In a release earlier on Tuesday, the firm stated that it wanted to “enhance the utility and trust of a permissioned Blockchain system” through the application of existing industry standards. "For the purposes of this project, we selected an internally-developed loyalty points Blockchain application built by our Rubix by Deloitte team on a permissioned Ethereum network as a test case," Iliana Oris Valiente of....
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Multinational services firm and one of the so-called “Big Four” accounting firms Deloitte has announced the completion of its latest blockchain endeavor. The firm scrutinized permissioned blockchain protocols and applications with professional auditing standards. The aim of the project, Deloitte said, was to “enhance the utility and trust of a permissioned blockchain system” by putting it through both professional audit and assurance standards. If 2017 is the year of blockchain prototypes and proof-of-concepts turning into real-world applications, auditors will have to keep abreast with....
In an effort to foster further development of blockchain technology, WanXiang Blockchain Labs, a Chinese research institution, and Deloitte, one of the largest accounting and audit firms in the world, have teamed up to launch the first ever Shanghai blockchain hackathon beginning on January 8th. “Our focus on how technology and going digital are changing the ways we live is globally orchestrated. Deloitte people from the different countries around the world [have] formed a specialized team ‘Deloitte digital’ to understand the impact how digitizations [sic] is changing every industry and....
Professional services firm Deloitte has revealed it is seeking to use blockchain technology to automate client auditing and crowdsource its consulting efforts, among other applications. With the announcement, Deloitte - one of the world's 'Big Four' audit firms - becomes the latest mainstream financial entity to voice its interest in the technology, following announcements by banking giants such as Citi, UBS and USAA. In an interview with CoinDesk, Deloitte Consulting principal Eric Piscini explained his company has been conducting research into the potential business opportunities around....
Professional services company Deloitte has partnered with an Australian digital currency trade group to develop new accounting guidelines for businesses that handle bitcoin. According to a report by Australian business news service iTnews, Deloitte will cooperate with the Australian Digital Currency Commerce Association (ADCCA) as part of a working group focused on accounting and self-regulation standards. Deloitte Australia partner Jonathan Perkinson told iTnews that "digital currencies have a lot of momentum" and that more work is needed to clarify key tax and regulatory issues. "With....
In an interactive branded paper on their website, Deloitte singles out blockchain as being the “Enigma. Paradox. Opportunity.” Deloitte, being an internationally recognized firm that provides audit, consulting, tax, and advisory services to some of the largest companies in the world clearly wants in on the potential action. Discussion continues to swirl around Bitcoin and blockchain among heavy hitters in the financial space who are eager declare whether they are rooting for the alternative technologies to be adopted and mainstream or whether they’re just a fly-by-night fad. What’s evident....