With the emergence of blockchain technology, CPA Canada has created a working group to explore different auditing approaches and the risks relating to cryptocurrencies and blockchain.
Jean-François Trépanier, Senior Manager, Assurance Research at Raymond Chabot Grant Thornton and Technical Advisor, Regulations at Catallaxy, is leading one of the working group’s projects. In an interview with CPA Canada, Jean-François provides an overview of the situation of public companies handling cryptocurrencies in Canada. He identifies the risks associated with blockchain technology and the accounting firms auditing cryptocurrencies.
Also, in a video discussing the prospects for CPAs in terms of blockchains, Louis Roy, Assurance Partner and President of Catallaxy clarifies that since this is a new technology, everything needs to be created. There are therefore excellent opportunities for CPAs to position themselves as experts in the field.
Roy offers some advice to CPAs who want to get involved in auditing cryptocurrency: he emphasizes the importance of properly understanding this technology, but also of knowing how to master cryptocurrency auditing tools.