Cloudoffis Enhances Crypto Auditing with New Asset Class
Cloudoffis, a software firm, has developed an enhancement for cryptocurrency on its Auditomation platform. This allows auditors to better identify, assess, and manage risks associated with crypto investments.
The enhancement treats cryptocurrency as a dedicated asset class within Auditomation, giving auditors clearer visibility of crypto assets from the outset of an engagement. This enables them to apply dedicated audit procedures consistently.
Cloudoffis chief strategy officer John Munden said, 'Crypto assets require a different level of scrutiny than many traditional investments... By giving crypto its own dedicated asset class within Auditomation, we're making these investments more visible throughout the audit process and helping firms ensure the right procedures are applied consistently across every engagement.'