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About Tax & Accounting Update: FASB News
The panel of experts discussed several topics related to blockchain, cryptocurrencies, and cybersecurity: 1) Cybersecurity threats are evolving, with nation-states now targeting private industry for economic and political reasons, in addition to more common threats like ransomware and email compromise. 2) Guidance has been issued on how companies should report on their cybersecurity risk management programs and controls, drawing from frameworks like COSO and NIST. Assurance over these reports may involve auditors examining and reporting on management's assertions. 3) Blockchain technology allows for faster, cheaper transactions without intermediaries, but cryptocurrencies are not legal tender backed by governments. Accounting for cryptocurrencies remains an issue without clear guidance
Detailed Information
| Author: | ['Alta Sophia'] |
|---|---|
| Publication Year: | 2019 |
| Pages: | 6 |
| Language: | English |
| Format: | |
| Price: | FREE |
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