Digital assets for the accountancy profession

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Accountants are significantly encountering cryptocurrency and other cryptoassets, and ICAEW is supporting them on this, states Lesley Meall.&#13

No matter if it’s Tesla and Square including bitcoin to the balance sheet, VISA and Morgan Stanley launching cryptoservices, or the non-fungible token fad, electronic belongings these types of as cryptocurrency are moving into the mainstream. ICAEW Complex Supervisor (and ex-auditor) David Lyford-Tilley is not on your own in exploring the implications for the job of cryptocurrency, other cryptoassets and developments these as wise contracts, which are enabled by distributed blockchain ledger know-how.

Uptake is spreading and accelerating, supplying possibilities for companies of all dimensions to achieve aggressive advantage by supplying consumers with crypto-relevant expert services, as accountants prevail over some of the specialized and functional issues, these as producing sufficient know-how and comprehension of this new asset class.