Blockchain

The Committee of Sponsoring Organizations of the Treadway Commission has released a new paper offering its views on how blockchain technology can be used with an organization’s internal controls over financial reporting.

Deloitte is helping more of its clients leverage blockchain technology as it sees the distributed ledger technology gain increasing usage after years of experimentation with the technology.

This Practice Aid provides auditors with information to consider when accepting or continuing audit engagements that involve digital assets.

The firm has implemented inter.x in-house, but it is also available to clients to manage dealings between financial entities of a business, which account for 30 to 40 percent of the global economy.

The firm joins a growing group that is accepting cryptocurrency as payment.

Around the same time a sorely needed economic relief package made its way through Congress into law to try to offset the economic wreckage of COVID-19, a unique proposal came to light.

PayPie is offering access to its network of Small Business Association-authorized lending partners to businesses seeking funds through the SBA Payroll Protection Program during the COVID-19 pandemic and economic slowdown.

The Internal Revenue Service is including a question at the top of Schedule 1 of the Form 1040 this year asking taxpayers whether they received, sold, sent, exchanged or acquired a financial interest in virtual currency in 2019, but most taxpayers won’t have any record from a Form 1099 about their cryptocurrency transactions.

Blockchain explorers share their real-life experiences.

The papers are mostly short form, and each addresses a specific issue and is meant to provide viewers with cutting-edge perspectives on issues related to the crypto ecosystem’s most hotly debated topics.