The Accountant Quits Podcast

Imagine owning a piece of the ‘Mona Lisa Painting’ or the ‘Colosseum’ in Rome? No I’m not saying you would have to invest your life savings into them, but any amount you desire. $10 , $1000, it’s up to you. With blockchain, you will have the ability to convert a physical asset into its digital form, and be able to fractionalize the asset for trading. Imagine a world where you can tokenize anything...

The topic Triple Entry Accounting was introduced on this podcast in Episode 4 with Juan Ignacio Ibanez. For the listeners not familiar with the idea, Triple Entry Accounting is an evolution of the double entry accounting system, and it uses blockchain technology to overcome the trust concern in bookkeeping. I was curious to unravel how companies are using the theoretical concept of triple entry ac...

Amidst the noise and attention-grabbing cryptocurrency price headlines some of you are having sleepless nights on, there are many companies which perhaps you are hearing less of but who are working on how this fascinating technology of blockchain can be used to transform business. Modern business is made up of siloed repositories of data, each enterprise keeps a separate copy of their data since t...

In this episode, I want to invite accountants and auditors to reflect on how the profession is today and what needs to change in the wake of emerging technologies like Blockchain, Artificial Intelligence and the rest. These technologies are bringing more and more automation to the profession, and therefore should accountants be sitting on the sidelines witnessing for this change to happen or rathe...

The emergence of blockchain will not spare any industry, and would you believe it , not even the auditing industry. An audit does not provide absolute assurance on the truth and fairness of the financial accounts since it does not verify 100% of the transactions, but adopts a sampling approach. As a recovering external auditor, I wanted to know whether blockchain technology can solve this pain poi...

All of you will be familiar with a double entry accounting framework, the bookkeeping system where all debits must be equal to the amounts entered as credits. But even if your accounts are balanced, that does not necessarily mean the reporting figures are free from misstatements, whether due to fraud or error. Which is the reason why audits are required. Triple Entry Accounting allows for a shared...

With the launch of Ethereum in 2014, for the first time ever, we could program decentralized applications that run on a blockchain. But in order to become mainstream, their inherent security is of paramount importance. If poorly coded, these smart contracts are vulnerable to hacking. With a significant amount of funds locked into these smart contracts, the losses can be irreversible for the invest...

With more and more companies looking to invest in bitcoin and other cryptocurrencies as an alternative to traditional investments like bonds, stocks and so forth, an important consideration for these companies involves the risks and controls in place for owning such assets. One of these significant risks lies in custody . Will the company keep custody of the assets itself, or will it rely on third...

To give you a short yet compelling glimpse of Monica’s faith in blockchain as an emerging technology, after 20 years of being the CEO of Strate , the central securities depository of South Africa and putting the country on the map as a trusted digitised financial market ecosystem, she resigned. Why ? Well, long story short - The executive board of Strate didn’t share her vision into the magic of b...