The Accountant Quits Podcast

This episode aims at providing the listeners with a macro perspective of fiat currencies , the growing concern on inflation levels and how cryptocurrencies represent a better way for people to protect their wealth. One of the reasons behind this episode was a few weeks ago, a friend told me investing in cryptocurrencies is a scam, and while of course I did my best to convince him otherwise that the government printing money is the actual scam, I want this episode to serve as a wake up call for people not familiar with cryptocurrencies as a medium of exchange and store of value. To help us gain an understanding about the future of money, I have the pleasure to speak to Andrew Noble. Andrew is a rare breed of accountant, he is an entrepreneur with a vision for the accounting profession, a technologist, a Web 3.0 investor and working alongside the sharpest minds to bring some much needed change in accounting. Andrew has founded LodgeIT, AccSource and more recently Accziom which offers a digital toolset for enterprises to leverage on blockchain technologies. In this episode you will learn, The recent surge in money printing by governments Bitcoin as the new store of value Are CBDCs an attack on our privacy and freedom The future of money and whether cryptocurrencies will spell the end of cash How to predict and be better prepared for the future And much more This episode is brought to you by AuditChain - the world's first decentralized continuous audit and real time reporting protocol. Traditional audit methodology focuses on “materiality”, not accuracy. We are constrained by time and cannot audit 100% of the transactions, and therefore we perform sampling. AuditChain decentralizes audit and uses an independent assurance methodology that automates auditing tasks, and continuously audits 100% of the transactions. With AuditChain, Chartered Accountants and professionals will write and own Process Control NFTs that automate internal and disclosure controls, where these NFTs pay royalties in return. With more and more automation, accountants will increasingly find themselves becoming redundant. If you are a forward thinking CPA or Chartered Accountant, and want to participate and be in touch with the latest developments from AuditChain in decentralizing the audit profession using blockchain, you should apply for membership by visiting DCARPE Alliance. If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes. It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. Together we can help accountants prepare themselves for a blockchain future. For show notes and past guests, please visit theaccountantquits.com/podcasts/ Follow The Accountant Quits: Instagram: instagram.com/theaccountantquits/  LinkedIN: linkedin.com/company/the-accountant-quits

Earlier this year, I had read a collection of 7 articles on ‘a new way of auditing’ written by Ian in 2009 whereby he had proposed to ‘perform the check ourselves by relying on a community of volunteers without the need to appoint an external auditor’. The inability of the auditors to spot the failures that led to the financial crisis had been challenged, and Ian questioned whether ‘audits are part of the problem rather than the solution’. Ian Grigg is considered as one of the pioneers of financial cryptography. His groundbreaking work for inventing the ‘Ricardian Contract’ has brought him acclaim and attention from all over the globe. Ian is well known for having coined the term ‘Triple Entry Accounting’, where back in 2005 he proposed a new concept of having a third entry as a digitally signed receipt to avoid transaction frauds. In this episode, we discuss; How technology can incentivize people to collaborate instead of cheating and; A new way of audit without the need to appoint an external auditor; Limitations of sampling audit The future of centralized audit providers; How TEA helps to prevent financial failures and frauds; His newly published book called the 'Identity Cycle'; And much more. This episode is brought to you by AuditChain - the world's first decentralized continuous audit and real time reporting protocol. Traditional audit methodology focuses on “materiality”, not accuracy. We are constrained by time and cannot audit 100% of the transactions, and therefore we perform sampling. AuditChain decentralizes audit and uses an independent assurance methodology that automates auditing tasks, and continuously audits 100% of the transactions. With AuditChain, Chartered Accountants and professionals will write and own Process Control NFTs that automate internal and disclosure controls, where these NFTs pay royalties in return. With more and more automation, accountants will increasingly find themselves becoming redundant. If you are a forward thinking CPA or Chartered Accountant, and want to participate and be in touch with the latest developments from AuditChain in decentralizing the audit profession using blockchain, you should apply for membership by visiting DCARPE Alliance. If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes. It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. Together we can help accountants prepare themselves for a blockchain future. For show notes and past guests, please visit theaccountantquits.com/podcasts/ Follow The Accountant Quits: Instagram: instagram.com/theaccountantquits/  LinkedIN: linkedin.com/company/the-accountant-quits

With more and more institutional money pouring into the crypto market, I wanted to dive into how these cryptocurrencies are being recorded into the financial statements. As of now, cryptocurrencies do not have a stand alone accounting standard, and therefore are being accounted under ‘Intangible Assets’ - the standard that governs assets like software licences, trademarks, and so on. While innovation in the crypto space is moving at a rapid pace, we cannot say standard setters in the accounting industry are having the same stamina to keep up. However, I must say that I do sympathize with them since new crypto assets are emerging all the time with varying properties. The task is monumental to say the least. To help us understand how to interpret the current standards, I speak to Shehnaaz Suleman, a Partner at BDO South Africa specializing in IFRS Technical. In this episode, you will learn; Where are we right now with accounting for crypto assets; The issues with the current accounting treatment; Differences with holding crypto as a long term investment rather than for trading purposes; How to account for stable coins; Whether we need a stand alone standard for crypto; And much more. This episode is brought to you by AuditChain - the world's first decentralized continuous audit and real time reporting protocol. Traditional audit methodology focuses on “materiality”, not accuracy. We are constrained by time and cannot audit 100% of the transactions, and therefore we perform sampling. AuditChain decentralizes audit and uses an independent assurance methodology that automates auditing tasks, and continuously audits 100% of the transactions. With AuditChain, Chartered Accountants and professionals will write and own Process Control NFTs that automate internal and disclosure controls, where these NFTs pay royalties in return. With more and more automation, accountants will increasingly find themselves becoming redundant. If you are a forward thinking CPA or Chartered Accountant, and want to participate and be in touch with the latest developments from AuditChain in decentralizing the audit profession using blockchain, you should apply for membership by visiting DCARPE Alliance. If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes. It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. Together we can help accountants prepare themselves for a blockchain future. For show notes and past guests, please visit theaccountantquits.com/podcasts/ Follow The Accountant Quits: Instagram: instagram.com/theaccountantquits/  LinkedIN: linkedin.com/company/the-accountant-quits

The topic of blockchain education is dear to my heart, which is the very reason why I started this podcast. Once you start your blockchain education journey and start digging, it truly is never ending. But you have to start because use cases with blockchain will be omnipresent in every industry in the years to come and we have only barely scratched the tip of the iceberg so far. Like most people working in this industry, I have self taught my way into blockchain, but more and more universities and online educational platforms are exploring offering courses to meet the demands of this relentlessly expanding landscape. According to the LinkedIN Learning Report 2020, blockchain ranked first in the most in demand hard skill. To discuss this topic, I have the pleasure to have Vincent Hoffmann, the COO of HTML Coin & AltHash University, who has been dedicating his working hours in the past years to educate a global community of learners. In this episode we will discuss; The challenges faced by companies to hire people with blockchain expertise; The approach of AltHash University to design their courses; How can blockchain technology transform Higher Education; The future of education and the importance of lifelong learning; And much more. Blockchain is not Bitcoin, it’s the technology behind Bitcoin, and in this episode we dive into why your future self will thank you for learning blockchain today. This episode is brought to you by AuditChain - the world's first decentralized continuous audit and real time reporting protocol. Traditional audit methodology focuses on “materiality”, not accuracy. We are constrained by time and cannot audit 100% of the transactions, and therefore we perform sampling. AuditChain decentralizes audit and uses an independent assurance methodology that automates auditing tasks, and continuously audits 100% of the transactions. With AuditChain, Chartered Accountants and professionals will write and own Process Control NFTs that automate internal and disclosure controls, where these NFTs pay royalties in return. With more and more automation, accountants will increasingly find themselves becoming redundant. If you are a forward thinking CPA or Chartered Accountant, and want to participate and be in touch with the latest developments from AuditChain in decentralizing the audit profession using blockchain, you should apply for membership by visiting DCARPE Alliance. If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes. It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. Together we can help accountants prepare themselves for a blockchain future. For show notes and past guests, please visit theaccountantquits.com/podcasts/ Follow The Accountant Quits: Instagram: instagram.com/theaccountantquits/  LinkedIN: linkedin.com/company/the-accountant-quits

This is the 2nd episode focused on Blockchain for Enterprises, and after Hyperledger, we dive into the other market leader Corda, designed by R3. From the get go, the team behind Corda wanted to solve the pain points of the financial services industry, tainted by duplicated and inconsistent data. And of course the team resorted to using a distributed ledger and blockchain technology. Even if Corda first started with banks, it’s a myth that Corda is just for finance. Corda is for all industries, and has been adopted in healthcare, insurance, energy, trade and more. To help us learn more about how Corda can transform business, I have the pleasure to have Anthony Nixon, a Software Engineer at R3, who specializes in Digital Asset solutions and Payment integrations. As a former Developer Evangelist, Anthony enjoys articulating and sharing the world of DLT/Blockchain through simple, real-world discussions accessible to a broad range of audiences. Anthony is the proof that accountants can evolve - As a Chartered Accountant, he taught himself to code and became instrumental to Corda’s current success. In this episode, you will learn; What Corda is and the business problem it aims to solve; How will banks evolve in the future; The best use cases of Corda; Whether it’s possible to use Corda to build the same financial mechanisms of the Defi space; How tokenization works with Corda; And much more; This episode is brought to you by AuditChain - the world's first decentralized continuous audit and real time reporting protocol. Traditional audit methodology focuses on “materiality”, not accuracy. We are constrained by time and cannot audit 100% of the transactions, and therefore we perform sampling. AuditChain decentralizes audit and uses an independent assurance methodology that automates auditing tasks, and continuously audits 100% of the transactions. With AuditChain, Chartered Accountants and professionals will write and own Process Control NFTs that automate internal and disclosure controls, where these NFTs pay royalties in return. With more and more automation, accountants will increasingly find themselves becoming redundant. If you are a forward thinking CPA or Chartered Accountant, and want to participate and be in touch with the latest developments from AuditChain in decentralizing the audit profession using blockchain, you should apply for membership by visiting DCARPE Alliance. If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes. It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. Together we can help accountants prepare themselves for a blockchain future. For show notes and past guests, please visit theaccountantquits.com/podcasts/ Follow The Accountant Quits: Instagram: instagram.com/theaccountantquits/  LinkedIN: linkedin.com/company/the-accountant-quits

Imagine owning a piece of the ‘Mona Lisa Painting’ or the ‘Colosseum’ in Rome? No I’m not saying you would have to invest your life savings into them, but any amount you desire. $10 , $1000, it’s up to you. With blockchain, you will have the ability to convert a physical asset into its digital form, and be able to fractionalize the asset for trading. Imagine a world where you can tokenize anything - not only the traditional assets like stocks, bonds, commodities and real estate. But also more exotic assets like art, wine, cars, sports teams. It’s a use case of blockchain I’m incredibly excited about but have an extreme ignorance of how it’s being done in practice. To learn more about tokenization, I speak to Sabrina Boudefar, a blockchain advisor and tokenization expert who has founded STOk Capital. If you are new to blockchain, consider this episode as a tokenization 101 class, where you will learn; What tokenization really means and how real world assets can be moved onto a blockchain;´ What makes tokenization appealing to low to mid income investors with fractionalization; Use cases of tokenization already on the market today; What are NFTs and their uses cases other than art collectibles; And much more. This episode is brought to you by AuditChain - the world's first decentralized continuous audit and real time reporting protocol. Traditional audit methodology focuses on “materiality”, not accuracy. We are constrained by time and cannot audit 100% of the transactions, and therefore we perform sampling. AuditChain decentralizes audit and uses an independent assurance methodology that automates auditing tasks, and continuously audits 100% of the transactions. With AuditChain, Chartered Accountants and professionals will write and own Process Control NFTs that automate internal and disclosure controls, where these NFTs pay royalties in return. With more and more automation, accountants will increasingly find themselves becoming redundant. If you are a forward thinking CPA or Chartered Accountant, and want to participate and be in touch with the latest developments from AuditChain in decentralizing the audit profession using blockchain, you should apply for membership by visiting DCARPE Alliance. If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes. It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. Together we can help accountants prepare themselves for a blockchain future. For show notes and past guests, please visit theaccountantquits.com/podcast/ Follow The Accountant Quits: Instagram: instagram.com/theaccountantquits/  LinkedIN: linkedin.com/company/the-accountant-quits

The topic Triple Entry Accounting was introduced on this podcast in Episode 4 with Juan Ignacio Ibanez. For the listeners not familiar with the idea, Triple Entry Accounting is an evolution of the double entry accounting system, and it uses blockchain technology to overcome the trust concern in bookkeeping. I was curious to unravel how companies are using the theoretical concept of triple entry accounting to gather empirical evidence and commercialize it as a service. The challenge for use cases in blockchain is to move from proof of concept to commercialization while achieving scalability, cost effectiveness and security. For the first episode on a series dedicated to how #TripleEntryAccounting can be used as a service, I have the pleasure to have Torje Vingen Sunde, the Chief Technology Officer from Abendum Abendum has developed a beta version of their triple entry accounting offering using a public blockchain and has been testing it with the help of the Norwegian regulator using a sandbox environment. In this episode, you will learn; How Abendum has created a product using the idea of Triple Entry Accounting; How an invoice gets digitally signed and recorded on a public ledger in practice; The challenges and conclusions learnt from the beta version of Abendum so far; The key enablers to transition from double entry accounting to triple entry accounting; The future role of accountants with automation; And much more.. This episode is brought to you by AuditChain - the world's first decentralized continuous audit and real time reporting protocol. Now traditional audit methodology focuses on “materiality”, not accuracy. We are constrained by time and cannot audit 100% of the transactions, and therefore we perform sampling. #AuditChain decentralizes audit and uses an independent assurance methodology that automates auditing tasks, and continuously audits 100% of the transactions. With AuditChain Chartered Accountants and professionals will write and own Process Control NFTs that automate internal and disclosure controls, where these NFTs pay royalties in return. With more and more automation, accountants will increasingly find themselves becoming redundant. If you are a forward thinking CPA or Chartered Accountant, and want to participate and be in touch with the latest developments from AuditChain in decentralizing the audit profession using blockchain, you should apply for membership by visiting DCARPE Alliance. If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes. It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. Together we can help accountants prepare themselves for a blockchain future. For show notes and past guests, please visit theaccountantquits.com/podcast/ Follow The Accountant Quits: Instagram: instagram.com/theaccountantquits/  LinkedIN: linkedin.com/company/the-accountant-quits

Amidst the noise and attention-grabbing cryptocurrency price headlines some of you are having sleepless nights on, there are many companies which perhaps you are hearing less of but who are working on how this fascinating technology of blockchain can be used to transform business. Modern business is made up of siloed repositories of data, each enterprise keeps a separate copy of their data since there is no collective trust. Now we do know that blockchain can solve this data stewardship problem but I wanted to understand how enterprises can overcome the data visibility concern within a public blockchain. For the first episode of this series called ´Blockchain for Enterprises´, I have the immense pleasure to have Karen Ottoni, the Director of Ecosystem at Hyperledger, who is leading the mission of ‘advancing business blockchain adoption through global open source collaboration’. In this episode, you will learn; The difference between a public blockchain like Bitcoin and private blockchain for enterprises; How to assess which blockchain fits your enterprises’ needs; How Hyperledger is helping the accounting and finance industry implement blockchain; How the promise of blockchain can bring real socio economic change; And much more.. This episode is brought to you by AuditChain - the world's first decentralized continuous audit and real time reporting protocol. Now traditional audit methodology focuses on “materiality”, not accuracy. We are constrained by time and cannot audit 100% of the transactions, and therefore we perform sampling. AuditChain decentralizes audit and uses an independent assurance methodology that automates auditing tasks, and continuously audits 100% of the transactions. With AuditChain Chartered Accountants and professionals will write and own Process Control NFTs that automate internal and disclosure controls, where these NFTs pay royalties in return. With more and more automation, accountants will increasingly find themselves becoming redundant. If you are a forward thinking CPA or Chartered Accountant, and want to participate and be in touch with the latest developments from AuditChain in decentralizing the audit profession using blockchain, you should apply for membership by visiting DCARPE Alliance. If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes. It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. Together we can help accountants prepare themselves for a blockchain future. For show notes and past guests, please visit theaccountantquits.com/podcast/ Follow The Accountant Quits: Instagram: instagram.com/theaccountantquits/  LinkedIN: linkedin.com/company/the-accountant-quits

In this episode, I want to invite accountants and auditors to reflect on how the profession is today and what needs to change in the wake of emerging technologies like Blockchain, Artificial Intelligence and the rest. These technologies are bringing more and more automation to the profession, and therefore should accountants be sitting on the sidelines witnessing for this change to happen or rather participate and evolve? I do not have all the answers on what needs to be done, but this is an inquisitive attempt to encourage more discussion on this topic, which from what I see is lacking from the leading professional accountancy qualifications This episode is brought to you by AuditChain - the world's first decentralized continuous audit and real time reporting protocol. Now traditional audit methodology focuses on “materiality”, not accuracy. We are constrained by time and cannot audit 100% of the transactions, and therefore we perform sampling. AuditChain decentralizes audit and uses an independent assurance methodology that automates auditing tasks, and continuously audits 100% of the transactions. With AuditChain Chartered Accountants and professionals will write and own Process Control NFTs that automate internal and disclosure controls, where these NFTs pay royalties in return. With more and more automation, accountants will increasingly find themselves becoming redundant. If you are a forward thinking CPA or Chartered Accountant, and want to participate and be in touch with the latest developments from AuditChain in decentralizing the audit profession using blockchain, you should apply for membership by visiting DCARPE Alliance. If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes. It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. Together we can help accountants prepare themselves for a blockchain future. For show notes and past guests, please visit theaccountantquits.com/podcast/ Follow The Accountant Quits: Instagram: instagram.com/theaccountantquits/  LinkedIN: linkedin.com/company/the-accountant-qui

The emergence of blockchain will not spare any industry, and would you believe it , not even the auditing industry. An audit does not provide absolute assurance on the truth and fairness of the financial accounts since it does not verify 100% of the transactions, but adopts a sampling approach. As a recovering external auditor, I wanted to know whether blockchain technology can solve this pain point? Yes it can. Enter AuditChain, the world’s first decentralized continuous audit & real time financial reporting protocol ecosystem. This time by including 100% of the transactions, a network of independent CPAs and Chartered Accountants provide external assurance on the controls, financial data and disclosure requirements. If Satoshi Nakamoto will go down in history as the inventor of the world’s first peer to peer payment system without central intermediary with Bitcoin, Jason Meyers, the inventor of AuditChain, will be remembered for being the pioneer of decentralized continuous audit. Jason is currently developing the only known use case of blockchain for the auditing industry with AuditChain, and bringing some much needed change with real time assurance and financial reporting. In this episode, you will learn; What decentralized continuous audit really means; Why real time financial reporting is necessary; The challenges ahead to transition from traditional audit to decentralized audit; How NFTs can be used not only as art collectibles but as a monetization opportunity for accountants; And much more… This episode is brought to you by AuditChain - the world's first decentralized continuous audit and real time reporting protocol. Now traditional audit methodology focuses on “materiality”, not accuracy. We are constrained by time and cannot audit 100% of the transactions, and therefore we perform sampling. AuditChain decentralizes audit and uses an independent assurance methodology that automates auditing tasks, and continuously audits 100% of the transactions. With AuditChain Chartered Accountants and professionals will write and own Process Control NFTs that automate internal and disclosure controls, where these NFTs pay royalties in return. With more and more automation, accountants will increasingly find themselves becoming redundant. If you are a forward thinking CPA or Chartered Accountant, and want to participate and be in touch with the latest developments from AuditChain in decentralizing the audit profession using blockchain, you should apply for membership by visiting DCARPE Alliance. If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes. It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. Together we can help accountants prepare themselves for a blockchain future. For show notes and past guests, please visit theaccountantquits.com/podcast/ Follow The Accountant Quits: Instagram: instagram.com/theaccountantquits/  LinkedIN: linkedin.com/company/the-accountant-quits