PwC Introduces New Auditing Tool for Cryptocurrency

By Robin Wong | June 21, 2019
PwC Introduces New Auditing Tool for Cryptocurrency

PwC, one of Big Four firms, has recently introduced a new auditing software solution to help investors keep track of their crypto transactions.

According to the firm’s press release, PwC stated that the tool would ” “provide independent, substantive evidence of the ‘private key and public address pairing’ which is one of the pieces needed to establish ownership of cryptocurrency”. Clients are now able to keep a reliable record of the cryptocurrencies held and transacted by them. 

Multiple digital currencies are supported, including Bitcoin, Bitcoin Cash, Bitcoin Gold, Bitcoin Diamond, LiteCoin, Ethereum, ERC20 – OAX token, and Ripple (XRP). PwC is reportedly working with other companies to help them address the new opportunities and challenges of blockchain and digital currencies.

Moreover, the tool can also supposedly “securely interrogate the blockchain to independently and reliably gather corroborating information about blockchain transactions and balances.” 

“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,” said PwC global assurance leader, James Chalmers.

In April, PwC has reportedly appeared to be on a hiring streak for blockchain related positions, if their vacancies for such jobs on global hiring portal Indeed are any indication to go by, ranking it tops compared to the other Big 4 firms.

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