How, when and where senior-level financial executives invest resources in blockchain solutions is becoming a high priority as stakeholders begin to debate the technology’s application against modern accounting and financial reporting.
The AICPA held a blockchain symposium with leaders announcing that the technology will “will impact all areas of practice” and new industry organizations like the Accounting Blockchain Coalition cropping up in what seems an almost weekly basis.
The Financial Executives Research Foundation (FERF) issued a report looking at the growing promise and practical challenges of applying blockchain solutions to financial reporting and accounting work.
The report, sponsored by Deloitte, interviews industry leaders, academics and practitioners regarding their hopes distributed ledger technology. The paper also includes a survey of of financial leaders regarding the current use of cryptocurrencies like Bitcoin and their plans to adopt blockchain solutions in the future.
Highlights from the report’s survey are below.
Financial Executives International (FEI) is the leading advocate for the views of corporate financial management. Its more than 10,000 members hold policy-making positions as chief financial officers, treasurers and controllers at companies from every major industry. FEI enhances member professional development through peer networking, career management services, conferences, research and publications. Members participate in the activities of 65 Chapters in the U.S. and a Chapter in Japan. FEI is located in Morristown, NJ.
Financial Executives International members can download the full report by clicking here.
CEO and Founder, Libra Services Inc.
Managing Editor, FEI Daily
Audit Chief Innovation Officer, Deloitte & Touche LLP
Audit & Assurance partner, Deloitte & Touche LLP