Auditors spend a significant amount of their time gathering audit evidence. Both the quality, quantity, and time spent on this process can be improved with a new technique called Triple Entry Accounting. In this article, I will explain the concept of Triple Entry Accounting and how it can greatly assist in the execution of audits. No technical background knowledge is required.
Triple-entry accounting is an extension of double-entry bookkeeping. A third entry can be recorded in a shared ledger in the form of a blockchain.
Auditors and accountants can leverage global public blockchain technology as a secure shared ledger to make accounting ledgers more efficient to verify, unlocking new techniques for continuous audits in a way that is compliant with the ISA standards. UNISOT (Abendum) is researching and developing Triple Entry Accounting technology to help accounting professionals leverage the new technology by extending the current double entry ledgers into triple-entry-compatible ledgers on the chain.”
SignOnChain, a cutting-edge Web3 platform empowered by Blockchain technology, that is revolutionizing notary services. The role of notaries in verifying and authenticating documents has become even more crucial. As technology continues to advance, traditional paper-based notarial processes are evolving to meet new demands. Enter SignOnChain, a cutting-edge Web3 platform empowered by Blockchain technology, that is revolutionizing notary services.
In the fast-paced world of finance, streamlined document management is critical for financial institutions to thrive. Enter SignOnChain, a cutting-edge platform, empowered by Web3 technology, that has emerged as a game-changer in secure document management.
Accountants play a crucial role in managing and maintaining a vast array of financial documents, from contracts and invoices to financial statements. As the volume of documents continues to grow, accountants seek innovative solutions to streamline their document management process, enhance efficiency and bolster accuracy.
A panel of four experts and entrepreneurs came together to discuss how blockchain re-invents business as a whole. At the panel, Sunde introduced Abendum, a company that utilizes the BSV blockchain to revolutionize accounting.
Torje Vingen Sunde deler Abendums erfaring på Arkivverkets erfaringsseminar om regulatoriske sandkasser.
I en garasje på Kolbotn bygde de teknologien som binder revisjon, sporing og transparens i verdikjeder sammen
Our participation in The Norwegian FSA FinTech sandbox in 2021 has been a success. Regulatory uncertainties about using blockchain in auditing have been clarified. With more certainty on the viability of the concept, we are looking forward to expanding our team and complete our Triple Entry Accounting software.
