Auditchain, Helping Your Audit Company or Institutions Activities

Hi, Meet me again, I'm Syella, I will tell you about AuditChain, so check this out.

The audit is one of the activities that must be carried out by all companies or institutions at the end of each period. Although it takes a long time and many costs, this activity is very important because it is related to finance. The importance of audit activities makes the company or institutions continue to look for ways to audit as efficiently as possible.

The level of difficulty in audit activities depends on the financial data held by each company or institution. In addition, the different ability of each auditor also makes the level of differentiation is also higher. In fact, the final results of audit activities are very important and can be used as income by many parties.

Auditchain's Solution

Using blockchain technology, Auditchain was created to help companies or institutions conduct more efficient audits. With a balance sheet, income statement, low cash, and a report of changes in the shareholders' equity reports that are real-time, Auditchain will make the results of a company's audit better than the auditor. This solution is supported by tokens used in the Auditchain platform, the token is called AUDT.

Technology stack

The technology stack contained in Auditchain consists of several layers, namely basic protocols, smart GAAP, IFRS and GAAS contract layers, application layers, real-time audit layers based on financial statements, audit analysis, and layers presenting statistical reports.

DCARPE ™

DCARPE ™ is a program created by Auditchain so that a company or institution can carry out its own audit activities without the need for additional auditor services. DCARPE ™ implementation will efficient the audit activities and minimize costs. This is because DCARPE ™ uses smart contracts that have been adjusted to the "STAT" accounting standard. SSAE 18 and IASE 3402 standards also apply so that the benefits of Auditchain are maximally accepted by all companies or institutions. DCARPE ™ also allows each block and audit results to be more preventative. The ecosystem that occurs in Auditchain can be seen in the image below. Every transaction will pass verification and certification, so security is guaranteed.

3. Audit Committee Resolution

Even if you can conduct your own audit activities with Auditchain, someone that will be asked to provide information on the Auditchain platform is still needed. The Audit Committee is the only person who has the greatest authority in audit activities using Auditchain. Every company or institution must choose one audit committee that will give all digital identities needed by Auditchain.

The company must pay a fee for this digital identity activities. The capacity to access digital identities of companies or institutions is very limited and each party has different capacities. This cost is cheaper compared to the costs that must be incurred by the company or institutional if they do audit activities by the audit manual.

The superiority of Auditchain that is able to make audit activities more efficient makes this platform must be used by all companies or institutions. With Auditchain, not only audit activities, the operational activities of companies or institutions will be more efficient.

More Information Visit the link below: 

Website: https://auditchain.com/
Whitepaper: https://auditchain.com/wp-content/uploads/2019/05/Auditchain-Whitepaper.pdf
ANN: https://bitcointalk.org/index.php?topic=5152521.0
Facebook: https://www.facebook.com/auditchain/
Twitter: https://twitter.com/auditchain
Telegram: https://t.me/Auditchain_Community

Author: Syella.A
Profile Bitcointalk: https://bitcointalk.org/index.php?action=profile;u=1082840