Nationally Ranked Accounting and Consulting Firm, Friedman, to Monitor and Reconcile its Customer’s Global Digital Assets
PRN Newswire announced today that Friedman LLP, a nationally-ranked accounting and consulting firm, is using, Ledgible, as one of several tools to audit clients’ digital currency accounts. Through Ledgible, Friedman customers have the ability to perform AICPA SOC assured portfolio tracking and reporting of cryptocurrency activity. Ledgible is specifically to help audit companies in the cryptocurrency and blockchain space. Accuracy and quality of data is a priority for the company so it can offer a solution that meets high standards and integrity. This gives clients seeking traditional financial verification, reporting and assurance the tools they need to work with cryptocurrency.
“Current accounting practices were not built for cryptocurrency and our dedicated team understands the complex challenges that companies face with digital currencies,” said Steve Baum, Partner with Friedman. “With Verady’s solution, tracking and reporting of digital assets is simple. Including Ledgible in our portfolio of technological solutions enables us to connect and add data to our existing financial platforms—streamlining the auditing process for our clients.”
Friedman provides critical insights on evolving accounting policies and procedures. Beginning in 2015, the firm began working with digital currency and distributed ledger technology companies. Friedman has a robust team of experts who understand the unique accounting challenges associated with the blockchain industry. In addition, Friedman developed proprietary systems to enable audit teams to independently query blockchains for digital currency or other blockchain transactions.
Ledgible is a great additional tool to help ensure accurate and reconcilable asset backing. “Verady offers Friedman a familiar and traditional financial verification, reporting and assurance tool to manage the digital assets for their clients,” said Kell Canty, co-founder and CEO of Verady. “Having a SOC compliant tool connects the emerging blockchain space with current financial service requirements, advancing the industry into the mainstream. Understanding how digital assets align with accounting, reporting and verification is key to the adoption of cryptocurrency. Ledgible tracks multiple digital assets across many exchanges with full historical querying capability for blockchains and crypto-asset classes with detailed Historical Balance and Activity reporting capabilities for all audit data.