📢 Choosing the Right Auditor for Your Crypto Company? Here’s What to Look For! 🔍 thenetworkfirm.com/blog/choo… When crypto hits your balance sheet, a generalized audit firm just won’t cut it. To streamline the process to find a knowledgeable crypto auditor, look for these green flags. Your auditors to be should: - Have referenceable crypto clients in your crypto sub-niche 🪙 - Know how to use leverage digital signatures to prove ownership 🖋️ - Have a consistent team throughout the client onboarding and engagement process. 👥 - Be on crypto-twitter (for better or worse) 🚨 - Have built or bought crypto specific audit tools.🔧 And remember, preparing early is key—especially if it’s your first audit! 🗓️ For a full list of crypto-native audit firms, visit: ledgerlens.io/ 🔗 Dive deeper into the best practices for crypto audits on our blog, and make sure your audit is more than just a checkbox! #CryptoAudit #DigitalAssets #BlockchainAudit #CryptoFinance #AuditTips

Tomorrow, we will unveil something NEW (and we think you will want to see it)! Join us and @chainlink as we explore how #auditors can help overcome data challenges in tokenized #RWAs. In the evolving world of tokenized assets, auditors and trusted third parties play a crucial role in ensuring the data integrity and transparency needed for robust tokenized asset markets. 📅Date: 10/15 | Time: 12PM ET ⬇️ Register today go.chain.link/webinar/solvin…

🔑Proving Ownership in the Digital Age: @JeremyNauCPA Breaks Down the Challenges of Auditing Digital Assets on @accountantquits Podcast 📝 In the first technical part of the podcast, @JeremyNauCPA dives into “how auditors can prove ownership of digital assets…” 📣 To explain the concept, Jeremy uses the juxtaposition between auditing digital assets and traditional bank balances to demonstrate the distinct differences: 💡 “With digital assets, there isn’t a bank where you can get a statement, send a confirmation, or review access. Crypto is a bearer instrument. You hold the assets yourself. There isn’t a third party you can ask to confirm ownership or control.” From Bank Accounts to Private Keys: 🤝 All holders of digital assets have a public address and a private key. In banking, this would be similar to your password or two-factor authentication (2FA). However, private keys are not passwords but are rather long strings of binary numbers (0s and 1s). 🤝 Proving ownership of digital assets is challenging because you are trying to prove control over a number—a private key. If this key is leaked, the assets can be stolen. 🤝 The tricky part is demonstrating that you have exclusive access to this number. In a future post, we will explore solutions for proving ownership of private keys. Listen to the full podcast here: youtube.com/watch?v=dEsCkrwl… #digitalassets #privatekeys #digitalassetownership #cryptoaccounting #cryptoauditing #bitcoin #ether #publicaccounting

US Public Companies with bitcoin on their balance sheet: 2019: 2 2020: 7 2021: 15 2022: 25 2023: 32 2024: 52 A 2,500% increase in 5 years. At this pace, 25% of all US public companies will hold bitcoin on their balance sheet by 2029. #CPAs, will you be ready? #bitcoin #accounting #blockchain #publiccompanies #NYSE #publicaccounting

Auditors who want to get into the digital assets space don’t know where to start, so how do we remove the technical barriers to entry? Imagine being able to audit companies with cryptocurrencies on their balance sheet using an out-of-the-box solution. Sounds too good to be true? Well, it's not 🧐 This week, I’m speaking with @JeremyNauCPA , the Founder of @LedgerLensTM , a platform that offers a comprehensive suite of crypto-audit and attestation tools. Which you can use to validate completeness, accuracy, existence, and ownership of digital assets at scale. Episode comes out on Thursday 5th Sep ⏳

📣🇺🇸 Breaking: The U.S. Bitcoin Strategic Reserve bill has officially been introduced in the Senate. This bill will: 👉 Establish a “decentralized network of secure Bitcoin vaults” under the control of the United States Treasury. 👉 Establish a quarterly Proof of Reserve system, completed by an independent auditor and published on the official website of the Department of Treasury. 👉 Direct lawmakers and bureaucrats to enact strict cybersecurity parameters and other physical security measures, ensuring that Bitcoin funds aren’t stolen. 👉 Set up secure, decentralized Bitcoin storage facilities across the U.S. 👉 Protect users' rights to self-custody. 💰 Additionally, the bill outlines a goal of accumulating 1 million Bitcoin over time, or 5% of Bitcoin’s total supply, using existing U.S. Treasury funds to acquire the Bitcoin in amounts that reflect the U.S. Treasury’s gold allocation. Access the bill here: bit.ly/4d8q0Te 💡 For accountants and auditors, bearer assets such as Bitcoin and cryptocurrencies provide new and novel opportunities to cryptographically verify ownership and control. 📣 We believe that everyone should have trustworthy insights into these reserves. 🏆 This bill marks an incredible milestone and is a clear indicator that the future of finance is here. #proofofreserves #strategicreservesbill #cryptoregulation #digitalassetregulation #blockchainregulation

#bitcoin Strategic Reserves Bill. Incredible milestone. If passed, will be seen in hindsight as THE moment the US reversed its US Dollar hegemony decline and secured our future as the world's reserve currency for decades to come. Credit @SenLummis for incredible vision.

The Strategic Bitcoin Reserve includes a Proof of Reserves requirement. Bearer assets like bitcoin and cryptocurrencies offer completely new and novel opportunities for accountants and auditors to cryptographically prove ownership and control. #Auditors, are you ready?

With 20 categories, you can now easily compare different tools and use the filtering options by blockchain, integrations & certifications 🥹 AR/AP - @AcctualTeam , @mural_pay Audit - @LedgerLensTM Batch Payments - @0xCoinshift Corporate Cards - @Onesafeio , @raincards

⚠ Alert ⚠ Did you know the Texas Department of Banking just released a proposed rule regarding the State's #ProofofReserves law and compliance requirements? 🔗sos.texas.gov/texreg/archive…

OPINION: We need to recognize proof-of-reserves as a valuable tool to protect against future financial disasters By @BTCmePLZ of @The_NetworkFirm blockworks.co/news/crypto-ne…

To date, no exchanges with a consistent, robust, and independent Proof of Reserve program have experienced a catastrophic failure. And if they did have such a failure, the public would either know at the next reporting interval, or the program would "mysteriously stop."

With #SAB121, and custodial crypto-assets and their corresponding liabilities prominently displayed on the face of the balance sheet, auditors must now equip themselves with the requisite skills, knowledge, and tools to conduct these crypto-specific audit procedures. For the biggest firms, you might have your own team of developers and cryptographers. For everyone else, there's @LedgerLensTM.

Auditing @LedgerLensTM is designed as a specialized platform for auditors, aiming to revolutionize the audit process to match the evolution of modern financial systems. It engages industry leaders to innovate and disrupt the field, offering tools that enhance the efficiency and effectiveness of auditing.

Citi estimates $5 trillion of assets will be tokenized by 2030. The WEF estimates $10 trillion. BCG, $16 trillion. The trend is clear, all assets are becoming digital assets. The question for #CPA's... What's your #onchain plan? Those that have an answer, have @LedgerLensTM.