The Worlds ‘Big Four’ Accountancy Firms Join to Trial Blockchain Financial Reporting
The world’s largest accountancy firms, Deloitte, EY, KPMG and PwC join a consortium of 20 major banks trialling a revolutionary blockchain financial reporting service. Developed by the Taiwanese banking consortium, with the cooperation of Taiwan’s FISC, the platform aims to streamline ‘external confirmation’ processes for auditing companies, from “half a month” to “within a day”. The ‘big four’ will begin with the pilot in Taiwan, with expansion of the trial set for next year to include over 1,400 publicly-listed companies in China.
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