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Digital audit of cryptocurrency by PwC

28/08/2019 10:24

PwC leads the way in providing audit and assurance services to clients engaging in cryptocurrency activities.

Businesses nowadays are rapidly transforming the way in which they operate and how they capitalise on the use of new technologies, such as blockchain. At PwC, we have leading professionals in the audit, software development and blockchain technology fields, able to create digital solutions that support this complex and rapidly evolving sector.

The new edition of the “Halo” auditing tool that has been developed by PwC offers us the ability to offer audit and other assurance services to businesses holding or transacting in cryptocurrency. 

In this new and complex world of blockchain and cryptocurrency, we can help businesses seize opportunities but also manage the challenges associated with the processes and controls that must be in place when using these new technologies. In this new environment, it is important for businesses to have robust and effective control systems. The “Halo” solution can:

  • provide independent, substantive evidence of the “private key and public address pairing” which is one of the pieces needed to establish ownership of cryptocurrency
  • securely investigate the blockchain to independently and reliably gather corroborating information about blockchain transactions and balances.

PwC can currently use this tool to provide assurance services to clients transacting in Bitcoin, Bitcoin Cash, Bitcoin Gold, Bitcoin Diamond, Lite Coin, Ethereum, ERC20 - OAX token, and Ripple (XRP).

James Chalmers, Global Assurance Leader at the PwC network, says: “It is important as companies continue to digitise we, as auditors, keep up with technology changes in the market, continue to develop audit tools that meet the needs of emerging technologies and serve the changing and developing demands of our stakeholders.”