Distributed ledger technology

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.

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

If you’ve noticed less talk about blockchain this year from technology product makers, that’s on purpose: Companies have realized big promises without flashy results makes consumers suspicious.

Payment app Veem now offers locked exchange rates, which means businesses can budget for a payment in a foreign currency knowing the exact exchange rate for up to 92 days in advance.

Cryptocurrency has taken over the public imagination. How will this affect accountants?

While accountants may be concerned with how blockchain is going to impact them, it's going to have a bigger impact sooner on many of their clients' industries, says CohnReznick partner and technology industry practice leader Asael Meir.

It is now well-accepted that blockchain is an accounting technology that can significantly reduce the time needed for recording, reconciliation and reporting in almost any industry.

Following in the steps of other Top 100 Firms, Armanino has opened a blockchain practice, through which it will offer a range of specialized services to clients.

You can ignore change -- or you can prepare for it and leverage it, says Joe Woodard, who dives into the tools that are changing accounting.

Experts at an NYU roundtable shared their views on how AI and blockchain may change, or eliminate, the audit profession.