Businesses rely on financial statement auditing to safeguard against fraud.
For decades, the auditing process has required sampling a fraction of an organization's financial transactions in order to verify authenticity.
Performed tediously and at great cost, an audit can occur many months subsequent to fiscal year end. This delay in the assurance process can prevent material misstatements from being uncovered in a timely fashion.
The immutable ledger known as blockchain is transforming business as we know it. One of the key advancements this technology offers is real-time financial reporting. Once businesses can report financial records in real-time, external validation of these records can be performed through continuous auditing. To accomplish this feat a number of innovations are required.
Today, Gilded is proud to announce our participation in the DCARPE Alliance, an innovative consortium creating the world's first continuous enterprise state machine external validation and real time financial reporting system.
The DCARPE Assurance and Disclosure Platform will enable issuers of digital assets to provide real-time assurance of assets and liabilities. Working with member organizations such as Auditchain and Monax, Gilded's digital asset accounting solution will automate the classification and categorization of transactions occuring within DCARPE-enabled organizations.
More information can be at https://auditchain.com/news/gilded-joins-dcarpe-alliance/.