The auditing and internal controls environments are radically evolving in a blockchain-enabled world. As such, it is important to consider and leverage these differences, factoring in blockchain capabilities, attributes, risks, and benefits.
We help auditors and compliance professionals enhance internal controls, which in turn, promotes greater:
- Effectiveness and efficiency of operations,
- Accuracy, consistency, and reliability of financial and other reporting, and
- Compliance with applicable laws and regulations.
In many ways, the control considerations with respect to implementing and operating our solutions are similar to a new Enterprise Resource Planning (ERP) or document management system.
When considering financial reporting controls, certain “mainstay” financial controls (e.g., reconciliations) and processes (e.g., creation of financial reports) will likely fundamentally change.
XDEX is a records management blockchain oracle solution that uses a highly-specialized ontological form of data catalogue index to facilitate a standards-based governance, risk, and compliance methodology for connecting archived metadata to protocol-based distributed ledger networks,
To facilitate a standards-based governance, risk, and compliance methodology, XDEX connects records, documents and datasets to an immutable blockchain ledger. This provides a clear, easy-to-manage path to reporting governance, risk, and compliance data that fits seamlessly with any standards-based, regulatory framework.