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.
Download our free PDf and discover how to make an audit trail.
For the first episode on a series dedicated to how #TripleEntryAccounting can be used as a service, The Accountant Quits Podcast had the pleasure to have Torje Vingen Sunde, the Chief Technology Officer from Abendum.
As Sunde told CoinGeek, the admission is a big milestone for the company. He noted that one of the biggest challenges to any startup operating in the industry is regulatory uncertainty. The sandbox will eliminate most of the concerns, allowing the company to innovate while the regulator keeps a close eye and ensures it remains compliant.
At Abendum vil snu opp ned på regnskap og revisjon gjennom å innføre trippel bokføring basert på blokkjede, går an å skjønne selv for den som ikke er særlig langt inne i de teknologiske detaljene.
Blockchain-gründernes metode skal halvere kostnadene og sikre regnskap mot svindel. «Revisjonsrevolusjonærer» mener trippel bokføring kan mer enn halvere kostnadene.
Abendum has created a triple entry accounting platform that drastically increases efficiency for both accountants and auditors because it creates a verifiable shared source of truth that cannot be altered while combatting the fraud around fake-invoicing that takes place in the accounting industry.
Sudan’s Governmental officials believe that Blockchain will be impactful for the country. These statements were made during the Blockchain for Government initiative visit to Sudan led by Bitcoin Association, the Swiss-based non profit organization.
Small companies spend a higher % of their profits on audit than big companies. Relatively speaking, an audit is more expensive for smaller and medium sized companies.
The startup Abendum has barely existed a year and will be ready with an MVP in April. That was enough for The Financial Supervisory Authority of Norway to choose them as the only participant in pool #2 of its regulatory sandbox.
