The Role of Blockchain Technology in Modern Accounting

Why Should You Attend:

The course explores the relationship between the accountancy profession and the blockchain concept, as well as potential future developments.

A blockchain is a digital ledger composed of decentralized, distributed, and often public records, known as blocks, which are used to record transactions across multiple computers.

These blocks cannot be altered retroactively without altering all subsequent blocks, enabling participants to independently and relatively inexpensively verify and audit transactions.

Blockchains are validated through mass collaboration powered by collective self-interests, which results in a strong workflow where participants' uncertainty regarding data security is minimized. Furthermore, the use of a blockchain eliminates the ability to infinitely reproduce a digital asset, as each unit of value can only be transferred once, solving the problem of double-spending.

This course looks at the practical implications of this revolutionary change for the accountancy and auditing profession.

Learning Objectives:

• Gain a deep understanding of the fundamental principles behind blockchain technology and how it works within the context of the accountancy profession.
• Learn about the practical applications of blockchain technology for accounting, auditing, and financial reporting.
• Gain insights into the benefits and challenges of using blockchain technology in the accountancy profession.
• Develop the skills and knowledge needed to evaluate the potential risks and opportunities associated with blockchain technology.
• Understand the impact of blockchain technology on the future of the accountancy profession and how it is likely to shape the industry.
• Gain a competitive edge in the job market by acquiring skills and knowledge in a cutting-edge field with significant growth potential.

Areas Covered in the Webinar:

• Key Features of the Blockchain
• How the Blockchain Works
• The future of the Blockchain
• The Accounting Perspective – The Potential of Blockchain
• Will the Blockchain Replace Accountants?
• How the Blockchain Can Benefit Accountants
• Impacts of Blockchain Methods
• Five Common Blockchain Myths
• Implications for Auditors
• How the Accounting Profession can Lead

Who Will Benefit:

• Professionals in the accounting and finance industry
• Accountants
• Auditors
• Financial analysts
• Financial managers
• Other professionals who want to understand the practical applications of blockchain technology in accounting and financial reporting
• Individuals who are interested in the potential impact of blockchain technology on the future of the accountancy profession

Stanley Epstein
Company Director & Principal Associate, Citadel Advantage

Stanley is a Principal Associate of the Citadel Advantage Group. Since 2001, Citadel Advantage has been working with banks and financial institutions to make them safer and more profitable, through consulting and training, specifically in the key areas of Governance, Risk Management and Compliance.

Stanley has over 50 years of banking and IT experience, 33 of which were with the Standard Bank of South Africa where during the 1990s he filled an industry level role holding several key positions including that of Chairman of the PASA Risk Committee. He also represented South Africa at two sessions, in New York, of UNCITRAL (the United Nations Commission on International Trade Law).

He holds a Master Degree in Economics and a Bachelor of Commerce (BCom.) degree, both from the University of South Africa, Pretoria.

Stanley has had extensive exposure to banking practice and banking operations in a number of countries including the USA, United Kingdom, South Africa, Israel, Europe and Australia. He has also acted as advisor to a number of central banks on payment systems, oversight, policy and payments risk issues.

He has also spent time in the high-tech sector as a payment systems designer and consultant to a global payments software developer.

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