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.
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.
How & Why you should include more non-financial data into your accounting (ESG). Bookkeeping is about the business’s own narrative. The story can be told in dollars, but for ESG-reporting the story is also told in non-financial figures. A problem arises if the figures and ratings that the story is leaning on is subjective.
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.
Imagine you are responsible to release funds according to invoice details. Suddenly a vendor asks why their payment is overdue. But you already paid it last week, how can this be? You come to the chilling realization that you have become a victim of a Business E-mail Compromise.