ATLANTA and CAPE TOWN, South Africa, Aug. 18, 2020 /PRNewswire/ -- Verady, the leading cryptocurrency tax and accounting software company, today announced Mazars in South Africa international audit, tax and advisory firm has selected Ledgible to supply confirmation and reporting around its clients' digital currency audits. Understanding how digital assets align with accounting, reporting and verification is key to the adoption of cryptocurrency worldwide. Ledgible is the bridge between cryptocurrency and traditional financial accounting.
Of the eleven Mazars' offices in South Africa, the Headquarters in Cape Town work with many local and global clients with cryptoassets to manage. Mazars is at the forefront of this emerging industry, providing digital currency and blockchain technology services to both domestic and international clients. Ledgible automatically syncs intricate data directly from hosted blockchains and exchanges for these cryptocurrency holdings and transactions which is used by Mazars to obtain the required audit evidence and assurance over clients' cryptocurrency holdings and transactions.
"Traditional accounting practices, risk based audit procedures and reporting frameworks were not designed for cryptocurrency. Our dedicated team however understands the complex challenges our clients face with digital currencies," said Wiehann Olivier, Partner with Mazars in South Africa. "With Verady's solution, tracking, validating and reporting of digital assets become less complex and to include Ledgible in our portfolio of options enables us to connect data to our existing financial platforms making the auditing process seamless for our clients."
"Ledgible offers Mazars a familiar and traditional financial verification, reporting and assurance tool to manage and report confirmations on the digital assets of their clients," said Kell Canty, co-founder and CEO of Verady. "Having an advanced crypto-accounting platform connects the emerging blockchain space with current financial service requirements advancing the cryptoasset industry."
Ledgible customers including Mazars in South Africa have the ability to perform AICPA SOC assured portfolio tracking and reporting of cryptocurrency activity. Ledgible tracks multiple digital assets across blockchains and crypto-asset classes with detailed Historical Balance and Activity reporting capabilities. Additionally, the platform provides tax reporting and accounting integrations with leading general ledger solutions to deliver needed capabilities for the cryptoasset ecosystem.
About Mazars Mazars is an internationally integrated partnership, specialising in audit, accountancy, advisory, tax and legal services. Operating in over 90 countries and territories around the world, we draw on the expertise of 40,400 professionals – 24,400 in Mazars' integrated partnership and 16,000 via the Mazars North America Alliance – to assist clients of all sizes at every stage in their development.
About Verady Verady provides cryptocurrency tax, accounting, and confirmation capabilities through its Ledgible platform, including specific solutions for Tax, Accounting and Confirmation. Verady believes traditional accounting systems, firms, and standards are currently lacking functionality around cryptocurrencies. The Ledgible platform is the bridge between cryptocurrencies and traditional financial accounting.