Question: What challenge does blockchain pose for coSO's occurrence assertion in financial audits? Blockchain information independently confirms the occurrence of all transactions. Blockchain technology fully automates
What challenge does blockchain pose for coSO's occurrence assertion in financial audits?
Blockchain information independently confirms the occurrence of all transactions.
Blockchain technology fully automates the verification of transaction occurrence.
All transactions on blockchain are publicly disclosed, ensuring occurrence transparency.
The pseudoanonymous nature of transactions may lead to fictitious or economically
insubstantial transactions.
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
