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Emerging Technology Adoption
The blockchain and digital asset industry is evolving at a blistering pace. Regulations, market volatility, technological transformations, system complexity and taxes are some of the many areas with changes that now require a new level of understanding. All of these changes must be managed—without losing focus on increased demands from company leadership.
RSM’s audit, tax and business consulting professional’s help organizations navigate through operational risks, tax issues and accounting issues. Our clients include proprietary trading firms, over-the-counter market makers, digital asset and derivative exchanges, digital asset custodians, miners, companies raising capital through digital asset transactions and stablecoin issuance, and blockchain technology companies.
Industry specialization allows us to deliver efficient, industry-specific services. Our professionals have an unwavering commitment to, and understanding of, industry issues, such as regulatory compliance, general compliance and operational issues, economic developments, cybersecurity, financial reporting, and anti-money laundering (AML) compliance programs. RSM is prepared to assist your finance team in determining how best to implement blockchain, assessing which digital assets to accept, addressing regulatory changes and preparing for an upcoming audit. Our professionals can also work with you to:
- Integrate finance and accounting department systems with organization-specific blockchain
- Provide system checks and help design and implement the necessary internal controls
- Verify that chosen digital assets are not vulnerable to breaches by applying the appropriate end-point testing, regularly conducting security testing and monitoring the systems on a consistent basis (in conjunction with our security, privacy and risk practice)
Digital assets present audit and accounting challenges that require re-examining basic considerations within traditional frameworks.
A glossary of blockchain terms and definitions related to the operation and security of blockchain and digital asset transactions.
The effects of blockchain in manufacturing, retail, financial services, technology, health care, life sciences, real estate & nonprofit.
Digital assets like cryptocurrencies are a new asset class with a volatility and global availability that excite the investment community.
While blockchain is currently one of the most-hyped technologies, there are important issues to consider before implementation.