XBRL Switzerland and DCARPE Alliance Association Enter Collaboration
XBRL Switzerland and DCARPE Alliance Association agree to collaborate on the adoption of decentralized financial reporting and assurance using XBRL.
The DCARPE Alliance Association and the XBRL Switzerland Association have agreed to cooperate by initiating a joint working group to further develop and build community around the adoption of the Decentralised Continuous Audit and Reporting Protocol Ecosystem currently being developed on the basis of the XBRL standard for digital financial reporting.
As blockchain and decentralized applications have captured the attention of the world, it is believed that tighter regulation may be on the horizon in many other jurisdictions. Transparency in the form of financial disclosure and assurance is at the heart of many regulatory frameworks and XBRL is the global standard for financial reporting in more than 50 major jurisdictions.
The goal of the joint working group is to bring together the two domains of traditional reporting (including non-financial) and Decentralised Finance, “DeFI” to explore practical applications, standards requirements (technical and procedural) as well as reviewing its implications for the accounting, audit and financial reporting information value chain from the reporting entity to the end user.
Parties interested in joining the working group should please contact the signatories below before 30 June 2021.
For XBRL Switzerland For DCARPE Alliance
Christian Dreyer CFA Dianne Schepers
About XBRL Switzerland
XBRL Switzerland (https://ch.xbrl.org) is the Swiss jurisdiction of XBRL International, a global not for profit operating in the public interest. Our purpose is to improve the accountability and transparency of business performance globally, by providing the open data exchange standard for business reporting.
About DCARPETM Alliance Association
The DCARPE™ Alliance Association (https://dcarpe.org) is a global organisation consisting 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, develop, launch and promote the adoption of continuous audit and real time digital financial reporting using the Auditchain Protocol.
Auditchain (https://auditchain.finance) is the world’s first decentralized accounting, audit, financial reporting and analysis virtual machine that automates and provides proof of assurance for the world’s business information. Auditchain Labs AG is a founding member of the DCARPE Alliance Association and is leading the development of the Auditchain Protocol with other members of the Alliance.