Digital assets for the accountancy profession

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

Whether it is Tesla and Square incorporating bitcoin to the stability sheet, VISA and Morgan Stanley launching cryptoservices, or the non-fungible token craze, electronic belongings this sort of as cryptocurrency are moving into the mainstream. ICAEW Complex Manager (and ex-auditor) David Lyford-Tilley is not on your own in discovering the implications for the job of cryptocurrency, other cryptoassets and developments this sort of as clever contracts, which are enabled by distributed blockchain ledger know-how.

Uptake is spreading and accelerating, offering prospects for corporations of all dimensions to realize competitive advantage by furnishing clientele with crypto-relevant companies, as accountants prevail over some of the specialized and realistic difficulties, such as producing enough awareness and understanding of this new asset class.