The self-check status of a distributed ledger and the validation of transactions took place for the first time on January 4, 2009, with the launch of the Bitcoin blockchain genesis block. Continuous audit evolves in theory and practice. The practice is mainly limited to internal reporting controls. The application of legal accounting to transactions and reporting system risks occurring in most business processes is now theoretically possible within and subject to a decentralized continuous audit environment by SSAE 18 and IASE 3402 standards through the use of a configurable “Ricardian” type of smart contracts. Such contracts, as proposed in this document, do not have custody of the value,
Auditchain proposes to embody an ecosystem that includes a blockchain protocol and an open-source library of smart accounting contracts that are sufficient to continuously capture, process, audit and report company data and performance data under a continuous, independent audit that exceeds the current accounting control. and auditing standards. A public-facing and/or permission-based presentation layer proposes to render in real-time at the end of each block; balance sheet, profit and loss account, cash flow and statement of changes in shareholders’ equity, which has the capacity to far exceed the reliability of existing reporting standards.
DCARPE ™ implementation uses the self-monitoring state of a blockchain with these additional layers of high extensibility, specifically for the development and implementation of decentralized business applications designed to provide stakeholders with a real-time presentation of financial, operational, development and network statistics that each block report.
The solution – Auditchain
Auditchain develops a digitally automated and decentralized real-time audit of companies, non-profit organizations and governments. Auditchain is a blockchain where professional certified auditors can perform specialized audit nodes. The financial data of the company is recorded almost real-time on the Auditchain network. The external auditors then act in the same way as the external validators of the Bitcoin or Ethereum blockchains and externally validate the data for integrity and veracity. These assessments can then be opened in real-time by third parties via Auditchain’s DCARPETM Explorer.
The DCARPE Explorer is a block explorer and an interface for business control and reporting.
This resolves the two shortcomings in the current control method:
the certified professional auditors who run the nodes are not directly connected to the company they are auditing and offer an unbiased view.
the company must adapt its systems and provide real-time data from its internal systems, eliminating the time lag in which they can change data.
AUDT token
– AUDITCHAIN NETWORK ACCESS:
The AUDT token unlocks a range of applications and the most robust and secure decentralized network of corporate insurance and reporting services.
AUDITCHAIN NETWORK SERVICES:
The AUDT token is the base currency and utility for service, assurance, and disclosure payments for business applications. AUDT unlocks network services that offer investors the highest level of transparency at a fraction of the cost of traditional audit and reporting.
-INTEROPERABILITY AUDITCHAIN NETWORK:
As a layer two protocol, Auditchain offers seamless interoperability between private and public blockchains, enabling robust utility and atomic settlement of trade debts.
-AUDT COSTS:
AUDT rates for companies can be reduced to zero by sharing subscription revenues and participating in the decentralized trustless assurance ecosystem.
– PREMIUM STAKEHOLDER ASSURANCE:
With AUDT, stakeholders can unlock and view business analytics audit and financial performance details that offer the highest levels of transparency, from system and control statistics for companies to real-time financial performance.
AUDT Token Economics
The AUDT token is consumed by deportation by companies, CPAs, Chartered Accountants, suppliers of business software and other service providers. Releasing promotes the incentive to provide uninterrupted services and reduce the cost of services on the network, as well as to enforce a fair and balanced amplified AUDT Token money system. AUDT is also deployed and consumed by DCARPE Explorer subscribers who subscribe to a variety of access to detailed financial information about digital assets and companies and audit analysis data. Also, third-party subscriptions via the DCARPE Explorer will enable the creation of dynamic updating of useful research reports on selected digital assets.
The AUDT token functionality drives the new decentralized business world. It is the driver for the security of the modern enterprise, from initial certification, early detection and recovery to real-time financial and audit analysis with the highest levels of integrity through consensus-based external business validation.
More info about AUDITCHAIN:
Website: https://auditchain.com/
Whitepaper: https://auditchain.com/wp-content/uploads/2019/05/Auditchain-Whitepaper.pdf
Bitcointalk profile https://bitcointalk.org/index.php?topic=5151587.0
ANN https://bitcointalk.org/index.php?topic=5041997
Social media:
Facebook: https://www.facebook.com/Auditchain
Twitter: https://twitter.com/AuditChain
Telegram community: https://t.me/joinchat/FhX6ikmW8NavlabJoMHhIA
Telegram announcement: https://t.me/AuditChain
Linkedin: https://www.linkedin.com/company/auditchain/
Reddit https://www.reddit.com/r/Auditchain
Instagram https://www.instagram.com/auditchain_official/
Author Details
BTT
https://bitcointalk.org/index.php?action=profile;u=2426201
Amendy1
ETH
0x71501D24CA4543D128F9446e2b8980646EA4d453
