Internet is very key in this generation, just as the accounting department is very germane in every industrial sector but there are mostly a lot of errors of omission or commission when accounting is being carried out, absence of transparency by auditor manipulating some figures to his taste, the security level of the data does suffer lack of privacy and among other loopholes to mention just a few among many.

This generation is so fortunate to be witnessing different technological advances for auditing purpose, different automated devices that help in the computation of a robust data that needs to be calculated within the shortest time possible without committing an error. Automation is the new innovation that everyone is so interested to mine, automation is hot in this intelligent world. In the automation generation, speed, accuracy, and efficiency cannot be forgone especially in a corporate lifetime.

Blockchain Technology and Smart Contracts has done a lot of favor in auditing services when it comes to the length of the hour in data analysis, computing complex data, documentation, recording and dispensing data. It is expedient to adopt this new technology of automation that saves time, money, time, human stress, reduction in the degree of error committed ecosystem.

In this article, I will briefly introduce the main deal to you guys about the latest deal that employed smart contracts and blockchain in the audit processes of big industries and in our daily institutions, thus, delivering correct, time-saving, unbelievable, effective and efficient result. In a smart contract, analog auditing, overtime in companies previously have witnessed a lot of hurdles and this has caused a large amount of loss for many companies. It has even made many companies be closed down. Additional challenges in the analog auditing include hiding inadequacies of both independent audit processes and inner audit method, insufficiency of human performance in the area of trust and reliability in financial markets.

COMPARISON OF ANALOG AUDIT SYSTEM AND AUDITCHAIN

There are many privileges in using AUDITCHAIN platform. In fact, the challenge with lack of any accounting, regulatory system which helps in automatically perfecting and exposing and deter error and misappropriation of funds due to the application of trustless procedures.

AUIDTCHAIN is an open source platform of smart contracts internally enough to coordinate, audit data and process on the enterprise within the shortest time possible in real time. AUDITCHAIN is being powered by blockchain, it will handle each of the revenue statements, cash flow statement and other important documents in non-opaque and correct way.

SOME OF THE CHARACTERISTICS OF AUDITCHAIN

Using AUDITCHAIN, all business transaction and business bonds are easily worked on through an appropriate accounting system, written to the general ledger and handling contract,

AUDITCHAIN works with a complete stark structure that uses a based protocol layer, IFRS that ensures there is allowance based financial report and audit analytics.
On the blockchain, all business transactions, accounting, and tax-related tasks are hashed and record the time.

The unit of ADITCHAIN is called AUDT. AUDT is the token name for AUDITCHAIN and will be used by those that are using AUDITCHAIN platform. In fact, AUDT is the main catalyst of the transactional economy of the AUDITCHAIN network and all services that are provided.

AUDITCHAIN is simple in the payment for calculations, accreditations and other services.
AUDITCHAIN, helps in leveraging a blockchain dependent auditing system, with additional high level of extensibility for broadening and right positioning of decentralized platforms, operating, development, network statistic and fashioned for the purpose of offering a pragmatic financial situation.

Finally, AUDITCHAIN is the main deal in the life of auditing system. AUDITCHAIN is the solution to all the challenges that have been in existence for a long time in accounting ecosystem. The revolution is just here right now. Thanks to the AUDITCHAIN.

TOKEN ALLOCATION

Early Contributors & Adopters 6%
Token Sale 40%
Airdrop 18%
Advisors 10.3%
Team 10.3%
Partnerships 10.3%
Bounties 5%

ROADMAP

CONCLUSION

Based on the briefing about AUDITCHAIN above, I would like to cap it all that we are so fortunate in this generation to have these group of experts that have innovatively rubbed minds together to come up with is transparent, secured, user friendly platform called AUDITCHAIN, in which we are assured that the challenges of error of omission and commission that has led many companies into bankruptcy and folding up has just been solved by AUDITCHAIN platform. Feel free to explore AUDITCHAIN through the links that have been put in place for you.

Be Part of This Revolution of AUDITCHAIN and you will be glad that you did!

For more information about the AUDITCHAIN project and participation, kindly get connected with these links:

Website: https://auditchain.com/

White paper: https://auditchain.com/wp-content/uploads/2019/05/Auditchain-Whitepaper.pdf

Telegram: https://t.me/Auditchain_Community

Twitter: https://twitter.com/auditchain

Facebook: https://www.facebook.com/auditchain/

LinkedIn: https://www.instagram.com/auditchain_official/

Reddit: https://www.reddit.com/r/Auditchain

Medium: https://medium.com/@Auditchain

YouTube: https://www.youtube.com/channel/UC7NlWkYBlsPRZ26e8e2-yKw/videos