Armanino releases blockchain-powered app for instant attestation
San Ramon, California-based Armanino has released TrustExplorer 2.0, the first app made for real-time attestation driven by blockchain technology.
The app uses blockchain technology to provide a secure, downloadable report, which Armanino backs with its opinion. The goal is to provide widely available and immediate trust and transparency, under the firm’s attest examination standards.
The app is the first step in Armanino’s initiative to deploy real-time auditing for any engagement.
“For years, thought leaders have predicted the future arrival of real-time auditing capabilities, and now Armanino has accomplished the world’s first business application of this theorized innovation,” said CEO Matt Armanino, in a statement. “This breakthrough is a catalyst that will lead to the widespread development and adoption of real-time auditing, and offers a transformational improvement over the current audit practices. This evolution will provide more precision and more trust to ecosystems as attestation reporting windows are reduced from 30 days down to 30 seconds.”
With real-time auditing, Armanino will be able to collect and preserve evidence, conduct risk assessment, and provide automated controls supported by periodic manual procedures.
“Audit has always relied on looking backward at historical information so that any report one is looking at is already out of date,” added Scott Copeland, audit partner at Armanino. “By moving beyond time-intensive traditional methods to tools that provide instant feedback with real-time information, auditors are empowered to not just provide an opinion on past events, but help clients make strategic decisions about the future of their finance organizations.”