PricewaterhouseCoopers (PwC), Deloitte, Ernst & Young (EY) and KPMG, better known as the “Big Four” auditors, all have established solid long-term blockchain roadmaps to remain relevant in the cryptocurrency and blockchain space. The four professional services conglomerates, which combined employ over a million individuals, have different roadmaps and perception of the future of the blockchain industry. Deloitte for instance, the biggest auditor out of the four with an annual revenue of around $43.2 billion, has stated that the blockchain sector is close to seeing a breakthrough with the technology. “Ultimately, [blockchain is] more of a business model enabler than a …
Big Four accounting firms like KPMG and Deloitte will become an important part of the decentralized finance — or DeFi — in the coming decade, according to Berlin-based non-profit think tank dGen. In its report titled “Decentralised Finance: Usecases & Risks for Mass Adoption,” dGen focuses on what it calls “the hottest topic in the blockchain industry today.” According to dGen, although DeFi is still in its infancy, it “could leapfrog the current FinTech industry, providing a new structure of financial services” in the years to come. The researchers back this thought up by making a number of bold predictions …
Last week, Big Four firm Deloitte unveiled a mobile platform designed to host blockchain networks on a small scale for demonstration purposes. The product is “based on client interest in understanding blockchain capabilities in live interactions," as per the press release. With this move, the Big Four companies — comprised of Deloitte, PwC, Ernst & Young (EY) and KPMG — continue their expansion into the field of blockchain. Combined, the firms brought in over $148 billion in revenue last year, as they handle over 50% of audits for both public and private companies. Consequently, their presence in the crypto space …
The recent initiative of the world's four largest auditing — Deloitte, Ernst & Young, KPMG and PwC — to join a pilot of 20 Taiwanese banks to test blockchain technology for fiscal audits, confirms how developments are expected in the work of external audit. Despite the auditors have been sometimes criticized for their lack of capacities for catching issues before they blow up, an external audit is a fundamental part of the assurance environment for international groups, both private and public. This can be defined as the process of conducting an objective examination of an organization’s accounts, books, documents and …
The world's four largest auditing firms — Deloitte, Ernst & Young, KPMG and PwC —have joined 20 Taiwanese banks to pilot blockchain technology for fiscal audits, local news outlet CTEE reports July 19. The “big four” will join a consortium of major Taiwanese banks to test a blockchain solution for auditing companies’ interim financial reports, focused on streamlining so-called ‘external confirmation’ processes. These currently require an auditor to manually obtain and verify audit evidence of companies’ transactions with third parties. The pilot — which has been developed by the banking consortium alongside Taiwan's Financial Information Service Co. (FISC) — harnesses …