A new cryptocurrency accounting and audit company named Verady, is working on a partnership with a CPA-led business that is nationally recognized named Aprio. The company Aprio is based out of Georgia.
Jagruti Solanki, the Assurance Senior Manager at Aprio stated that “with the assistance of the Very Team and the VeraNet platform, we were able to efficiently complete our financial statement audits, including a complete reconciliation of the bitcoin transactions and bitcoin assets held by our customer. Through our partnership with Verady we will now be able to provide a wide array of financial assurance services to companies and their third-party intermediaries that use cryptocurrencies or the blockchain in their everyday business.”
With the understanding of blockchain, the company has helped to align their principles with the Generally Accepted Accounting Principles (GAAP) which is one of the necessary additions for adoption on the various cryptocurrency platforms. The founders of the company have been working on becoming the leaders in the industry and intend to keep that notion going.
Nathan Eppinger, the CTO of Verady stated that “the idea for VeraNet was developed four years ago as an audit solution to verify bitcoin asset control, transaction volumes, and historical balances. With cryptocurrency not having widespread adoption yet and a market cap of under one billion, the timing wasn’t quite right then.”
The market capitalization of Bitcoin and the other cryptocurrencies associated with blockchain technology have surpassed a staggering number of over $175 billion. According to Kell Canty, the CEO of VeraNet, “the growth of allc cryptocurrency has been very exciting to see this past year, but the use of cryptocurrency comes with challenges. We created Verady to assist companies with the challenge of financial accountability associated with the use of blockchain assets.”