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.

PricewaterhouseCoopers is developing blockchain technology to help clients validate transactions as they deal with possible risks.

The Big 4 firm was selected by The Institutes RiskBlock Alliance to take on the challenge.

Major players in the financial services industry are using the technology as a game-changing “trust protocol” for transactions.

Wesley Bricker, chief accountant at the Securities and Exchange Commission’s Office of the Chief Accountant, told attendees at the Institute of Management Accountants’ annual conference in Indianapolis on Tuesday about the vital role he sees them playing in financial reporting.

Processing Bitcoin and other cryptocurrency payments is just the tip of the iceberg when it comes to the ways that blockchain-based technologies could disrupt the accounting profession.

The technology behind Bitcoin will be showing up in more back office applications.

This initial version of the credit risk assessment software integrates with QuickBooks Online to analyze a company's books.

Firms can use the new blueprints to create blockchain networks of their own design using the company's Web Services tools.

Blockchain is one of the hottest topics in the accounting and financial services field, but a substantial amount of uncertainty remains.

In the coming years, the industry will play a significant role in driving the adoption of this world-changing technology.