Blockchain gives a significant level of safety and security with regard to transaction data and money. It additionally permits users to exploit the transparent system and foundation alongside low operational expenses with the aid of decentralization.
In business, there is a policy of contingency that provides a ready cushion in case of unexpected events. However, a global pandemic is seldom on any one's contingency list.
In the world of uncertainties, growing cyber risks, it's high time that all the organisations design and maintain internal controls with best of business practices. This will always add value to the business and will go a long way in business uninterrupted business growth.
Due to the current challenging situation the whole world is facing, as a CA who is working somewhere or a CA who is running his/her own firm, it is particularly important to analyze your firm's digital quotient and make it tech-savvy.
Also, in Blockchain one can trace the whole transaction from the start to its end. All the transactions linked together. And if anyone tries to hack or make mischief in any one transaction the whole block of a chain will be affected.
Even if machines can perform all the calculations or initial audit-related tasks, someone would be needed to verify that AI is doing its task correctly and is not faulty. Instead of being a victim of technophobia, let's work in harmony with technology as the amalgamation of both can reap Fruitful results.
Forensic Accounting and Auditing - An opportunity in today's world
Windows 10 is becoming very popular nowadays and many of you might have bought a computer/laptop with the latest offering from Microsoft pre-installed. But, thi..
As I know before COVID-19 outbreaks disaster recovery planning and business continuity planning was only part of the curriculum in highly professional courses in India like Chartered Accountancy.
We at TopconnectO recognized early on that the biggest challenge for self-employed professionals is often getting their name in front of their potential customer or client.