The auditing self for the transaction and its practice is limited on the internal report. This application of accounting treatment for some report and transaction to develop risk control in all business process. Dcarpe, in the Auditchain offer self-auditing state based on blockchain technology with many layers, operate in high extensibility for the development of enterprise application. It designs to parties with real-time financial, and network statistics report.
Auditchain offers a full, stack technology that consists of some layer like:
1. audit node layer
2. protocol layer
3. application layer
4. GAAP
5. GAAS smart contract layer
6. IFRS
Not only all of above, but also some features like public facing, statistic presentation layer, and audit analytics. The committee of audit design the individual responsible for system and control to implementation in the Auditchain network. This is responsible for the initiation process. The designee is formalization to entry a simple smart contract that serves for resolution in the audit committee. It is access to all designee user. This network cannot process until confirmed, validate and submitted by the network. The member of the vote in audit committee are resolution and recorded. The fee for Audit is deducted from confirmation and validation of audit committee and validation node. The designee gives digital identities to enterprise like the additional condition of enterprise designee. Every identity consists of detail person information of the user. The identity uses to access the level of designating and level permission to the company profile in Auditchain network.
Auditchain completed with smart contract system. It will develop an implementation of variant IFRS, GAAP and GAAS. This is accounting treatment and tax treatment for all transaction. It spends a high percentage of source in accounting form in the convertible instrument. There is a priority for the development of sample to be associated with the compensation plan.
There is an assignment for every identity to confirm and validate the Auditchain network. There is some type of user, enterprise designated user, federated nodes, enterprises, non-federated nodes, and the last is a service provider. All user should pau Audit fee for the production and validation of all digital identities. The operational has the purpose to implement and verify functionally. Audit fee is getting from collateral stake after a connection in paid and testing to validating node. Evaluation by Federal nodes is available during testing. It will determine whether the control is suitable to achieve a specific objective deduction of Audit fee is from Audit collateral stake from the explanation above and the connection with paid to federated nodes and SOC certification.
There will be STAT, or straight through accounting treatment to give permission based on the financial statement for every enterprise transaction. This makes a result in record and book audit in real time. AUDT is the name of token in Auditchain. It is the utility token used by the user to pay and access service in Auditchain network. AUDT token based on ERC20. It distributes to a token generation event. The fee of AUDT is based on the unit value of the local currency. AUDT fee is deducted from stake account.
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