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.