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Full-Text Articles in Business
Blockchain And The Future Of The Audit, Connor Ortman
Blockchain And The Future Of The Audit, Connor Ortman
CMC Senior Theses
“In the future, virtually every function in the world of financial services will be displaced, disintermediated and decentralized. The Internet gave us a powerful way to share and access information. Blockchain now gives us a powerful way to share and access value.”
During a February 2017 AICPA roundtable, Chairman of the Wall Street Blockchain Alliance and previous Global Head of Trading Analytics at Thomson Reuters, Ron Quarantana spoke to the revolutionary scale of blockchain. Quaranta, viewed by many as an expert in financial technology, predicts that the adoption of blockchain, both by the Big Four accounting firms and their clients, …
From Legally Confidential To Financially Confident: Resolving The Tension Between Lawyers And Auditors Over Contingent Liability Disclosure, Samantha Nicole Kunz
From Legally Confidential To Financially Confident: Resolving The Tension Between Lawyers And Auditors Over Contingent Liability Disclosure, Samantha Nicole Kunz
CMC Senior Theses
Auditors review documented financial figures to test for their accuracy and materiality. Lawyers analyze evidential facts and records to build sound legal arguments. These parties work toward a mutual purpose: to present their clients as legitimate and compliant businesses. But what happens when the concrete facts upon which lawyers and auditors base their work are obscured by their inability to see into the future? In other words, how can these professions conjunctively handle potential future obligations brought about by contingent liabilities?
This study will attempt to resolve the tensions that emerge between lawyers and auditors when tasked with estimating the …