Search Results for: Audit

Paraguay Begins to Audit Local Crypto Industry to Comply with FATF Guidelines

Paraguay is looking to take its cryptocurrency industry mainstream, in light of the Financial Action Task Force’s (FATF) guidance on virtual asset service providers (VASPs) released earlier this year.   The Secretary for Preventing Money and Property Laundering, and the country’s anti-money laundering (AML) chief announced a crypto survey in the nation. The VASPs were asked to open … Continue reading Paraguay Begins to Audit Local Crypto Industry to Comply with FATF Guidelines

Australian Blockchain Startup Power Ledger Deploys Blockchain Grid to Audit Renewable Energy

Power Ledger, an Australian peer-to-peer energy trading pioneer, has announced to have bought a 250 kilowatt (kW) photovoltaic system, which will use blockchain-based data management and settlement system. Power Ledger bought the system from Perdaman Advanced energy – an Australian firm – that offers clean energy consulting and project development.    New Approach for Maximizing Energy Generation and Optimal Use  After the … Continue reading Australian Blockchain Startup Power Ledger Deploys Blockchain Grid to Audit Renewable Energy

"The Wars to Come," Blockchain – A Game Changer for Auditors

Every industrial revolution was driven by different automation. The “Steam Engine” began the “First Industrial Revolution”, Previous industrial revolutions were driven by “Factory Machines and Fossil Fuels”. Whereas, the on-going automation revolution is based on “Data-Driven Artificial Intelligence” (AI) and “Blockchain Technology”. If “data is the fuel “of the Fourth Industrial Revolution, “blockchain will be the engine” driving it forward. Both of them have a … Continue reading "The Wars to Come," Blockchain – A Game Changer for Auditors

World Sustainability Organization Adopts Blockchain-Based Virtual Audits to Curb COVID-19 Spread

With coronavirus (COVID-19) prevention measures necessitating self-isolation and social distancing, Friend of the Sea (FOS), a World Sustainability Organization’s project for seafood certification, has embraced blockchain-enabled virtual audits to mitigate the expansion of this pandemic. As a result, FOS has eradicated onsite scrutinies because safety is of the essence during these trying times. Innovative seafood … Continue reading World Sustainability Organization Adopts Blockchain-Based Virtual Audits to Curb COVID-19 Spread

Crypto Debit Card Issuer Wirecard Missing Over $2 Billion in Cash as Auditor Raises Questions

Shares of Wirecard, a German payment company, have fallen more than 60% after the company announced that its auditor, Ernst & Young (EY), raised questions over missing balances worth 1.9 billion euros (over $2 billion) of cash. The auditor said that it did not have adequate evidence for 1.9 billion euros of cash balances on Wirecard’s trust … Continue reading Crypto Debit Card Issuer Wirecard Missing Over $2 Billion in Cash as Auditor Raises Questions

Creditors of Defunct Crypto Exchange Cryptopia Can Now File For Claims With Audit Firm Following Massive Hack

The creditors of now-defunct New Zealand based cryptocurrency exchange Cryptopia can now file for claims with appointed audit firm Grant Thornton. According to the official announcement released by the audit firm, emails have been sent to the concerned Cryptopia users who are expected to register using the Cryptopia claims portal which is now live. What … Continue reading Creditors of Defunct Crypto Exchange Cryptopia Can Now File For Claims With Audit Firm Following Massive Hack

Tether Has Enough Reserve for its Issued Tokens, Audit Firm Says

Tether Holdings Limited, the company behind the largest stablecoin USDT, has released its Consolidated Reserves Report (CRR) for June. Per the report, the firm has enough dollar reserves for its issued tokens. The Cayman Islands-based independent auditor affirmed the report that Tether’s claims about its reserves for June are indeed correct. The USDT stablecoin has … Continue reading Tether Has Enough Reserve for its Issued Tokens, Audit Firm Says

Russian Auditor of Accounts Chamber Warns of the Risks in Crypto Investment

Alexei Savatyugin, the Auditor of the Accounts Chamber in the Russian Parliament, has shared concerns about unregulated digital currencies and their risks to investors. The auditor noted that these new asset classes do not have any inherent value as the sentiment in the market often determines their prices. “Those who invest in cryptocurrencies should be … Continue reading Russian Auditor of Accounts Chamber Warns of the Risks in Crypto Investment

Kraken Passes Reserve Audit Proof, Allowing Customers to Verify Crypto Balances

Kraken exchange has passed a crypto audit by Armanino LLP, allowing customers to verify cryptocurrency balances. Kraken’s Proof of Reserve Audit is designed to allow customers to prove that their Bitcoin and Ethereum balances are safe and provable on the platform. The US-based crypto exchange, founded in 2011, provides crypto to fiat trading pairs and … Continue reading Kraken Passes Reserve Audit Proof, Allowing Customers to Verify Crypto Balances

Canadian Big 4 Auditing Firm KPMG Lists BTC and ETH to Balance Sheet

Multinational professional firm services and one of the Big four auditing firms, the Canadian distribution of KPMG, said it added Bitcoin and Ethereum to its corporate treasury. This is the first direct investment in cryptocurrencies to the company.  Benjie Thomas, a managing partner of KPMG Canada Consulting Services, said that crypto assets have become a … Continue reading Canadian Big 4 Auditing Firm KPMG Lists BTC and ETH to Balance Sheet

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