Extraordinary Times Call for Extraordinary Measures by Extraordinary People

DCARPE Alliance Association sincerely hopes and prays that all of its members and their families are safe and healthy during this period.

Our hearts go out to all of the doctors and nurses who are selflessly putting themselves in harms way to treat the COVID19 Pandemic.

Needless to say, we are experiencing unprecedented economic turmoil as the result of the effects of COVID19. Responses by governments, regulatory agencies and central banks to this crisis will have long lasting and controversial effects.

Our work at DCARPE Alliance Association is not just about process. It is about the global macroeconomic effects of new processes and methodologies.

The enterprise world is experiencing massive business interruption. Current events are also teaching us a lesson. Transformation is no longer an option and is critical for survival. The actions you take and the plans you implement will have critical and profound implications going forward.

The concept of decentralization was difficult to contemplate for many managers of larger enterprises. We believe that the unfolding of current events may prove to be a catalyzing moment and will play a critical role in the evolution of global finance and economics.

There will be many silver linings to the spike in unemployment. Those remaining under employment will play a critical role in recreating the global economy but those who depart will become critical partners in an ever increasing globally decentralized programmatic value chain.

At this time, DCARPE Alliance Association wishes to recognize the efforts of those who are on the front lines during this period.

Human Resources – HR managers are always under pressure. The weight of rapidly shifting and destabilizing conditions is forcing HR departments to act as triage managers. They are the superheros of every enterprise.

The Office of the Chief of Finance – CFOs are forced to make some of the most difficult planning decisions. They will play a new role in business execution going forward. CFOs are the heart of the financial engine of every enterprise.

Risk Management – Risk management is the key to survival in every enterprise. Cooperation and collaboration is critical. Their recommendations need to be taken seriously. Decentralization will play a critical role in destabilizing, mitigating and foreseeing oncoming risk.

Internal Audit – Stakeholders depend on impartiality. Proof of assurance and integrity of financial operations are critical to confidence. Independent thoughts and actions form leadership in internal audit will help restore confidence.

Financial Reporting – Financial disclosure will play a more critical role not only for investors but all actors across critical information supply chains. Real time financial state disclosure must become the new normal.

External Audit – Sound global capital markets are dependent upon sound global external validation methodology. The assurance of many rather than the opinion of one will avoid conflict, restore confidence and mitigate global systemic risk at every level of the economic stack.

Despite the hysteria we wish to draw your attention to all of the recoveries in history that have followed economic turmoil. These recoveries do not occur naturally. They are the product of foresight, brute force determination and innovation.

Our economic future depends on the ever increasing ingenuity of our members, their partners and the support of their families. It also depends on the ability to shed old ideas in exchange for new ones.

“If you do what you’ve always done, you’ll get what you’ve always gotten” – Anonymous 

Stay tuned for email updates. Follow us on Twitter, Facebook and LinkedIn.

Sincerely,

DCARPE Alliance Association Membership Team

The Future of Assurance and Financial Reporting

The DCARPE Alliance is a global coalition of members of the accounting, audit, financial reporting, legal, blockchain, investment and regulatory community. The purpose of the Alliance is to provide education, drive technology innovation and open source engineering, and promote the adoption of continuous audit and real time financial reporting using the DCARPE™ Assurance and Disclosure Protocol.

Auditchain is the founding member of the Alliance and is leading the development of the DCARPE Assurance and Disclosure Protocol with other members in the technical category. The DCARPE Assurance and Disclosure Protocol is the world’s first decentralized continuous audit and real time financial reporting protocol ecosystem for digital asset and enterprise assurance and disclosure.

The Alliance is segmented in four categories;

• Assurance and Financial Reporting – CPAs and Chartered Accountants in Active Practice
• Technical – Developers, Systems Integrators and Third-Party Software Providers
• Legal and Regulatory – Law Firms, Regulators, Academics
• Gatekeepers – Digital Asset Exchanges, Ratings Agencies, Securitization and Tokenization Platforms

Assurance & Financial Reporting

Members in the assurance category will act as enterprise external validators on the DCARPE Assurance and Disclosure Protocol. This category includes Certified Public Accountants and Chartered Accountants who are service  organizational control auditors as well as financial statement auditors. They will operate external validating (“audit”) nodes on the network. Members in the financial reporting category are also CPAs, Chartered Accountants and technical experts in the science and practice of financial communication. Also in this category are providers of xBRL based disclosure control architecture. Financial reporting requires complex xBRL processing and validation software. xBRL is the global standard for regulatory and business reporting.

Technical

Members in the technical category of the Alliance are developers, enterprise software providers, and systems integrators. They will act as service providers by adapting and integrating instances of their software into the DCARPE Assurance and Disclosure Protocol for consumption and utilization by enterprises.

Legal & Regulatory

Members from the legal, regulatory and academic community provide thought leadership on the benefits of continuous assurance and real time financial disclosure as well as how it can shape the evolution of existing legislature.

Gatekeepers

Members who provide digital asset origination, distribution, listing, trading and ratings services are the Gatekeepers. They are tokenization and securitization platforms as well as digital asset exchanges. Gatekeepers hold substantial influence in the digital asset space. Digital assets need real time disclosure and continuous assurance. Its up to the Gatekeepers to require it.

The Transparency Movement

Traditional exchanges such as Deutsche Bourse, NYSE, NASDAQ and SIX have strict listing standards that require all issuers to submit to audit and review. Every traditional exchange also submits to audit and review. Failure to report financial results on time is cause for regulatory enforcement action and “delisting”.

We believe that digital asset exchanges have a real chance to remain innovative and set an example for the global financial system by creating a new listing category reserved for digital asset listings that agree to provide the highest levels of financial transparency to their investors through the DCARPE Explorer.

Auditchain and the DCARPE Alliance are partnering with digital asset exchanges who will act as early adopters to integrate the DCARPE Assurance and Disclosure Protocol into their digital asset exchange listing and launchpad platforms. It’s a strategic move by digital asset exchanges to collaborate and demonstrate innovation and advancements in disclosure and transparency. It is also the key to avoid regulatory complications and business interruption for failing to protect investors and otherwise failing to promote and enforce market integrity and full and fair disclosure.

There are over 50 members of the DCARPE™ Alliance. Membership is expected to grow to over 100 by the end of 2019. Each member provides a critical piece of a highly complex puzzle. Members have a substantial opportunity to tap into the new DCARPE Assurance and Disclosure economy.

Watch what else we do to transform assurance and disclosure!!!