Working Groups

Working Groups 2018-11-21T15:23:13+00:00

The Accounting Blockchain Coalition was founded with primary goal of creating best practices that address the issues facing the accounting industry. ABC aims to provide its members with the opportunity to change the face of the accounting industry as a whole by contributing their specific expertise in order to help develop best practices when utilizing emerging technologies.

By becoming an ABC member and contributing to one of our four Working Groups, you will have the opportunity to tackle issues and concerns related to your specific industry through collaboration and a shared sense of responsibility.

If you are a member of the ABC and are interested in participating in a working group, please click here to visit the Community.

AUDIT AND ACCOUNTING

Chair: Mark Li, BPM LLP

Co-Chair: Prashant Nisar, RSM US LLP
Co-Chair: Andre Sterley, Mazars USA LLP
Co-Chair: Caleb Hughes, Warren Averett LLP
Co-Chair: Sean Stein Smith, Lehman College, City University of New York

The introduction of digital assets into the audit and accounting industry opens up many questions regarding the different assertions and technical accounting treatment that firms and independent professionals will encounter. Many of the “traditional” methods and procedures around auditing, accounting treatment, financial reporting and disclosures will change or be affected by the rapid emergence of blockchain and digital assets. This Audit and Accounting working group will focus on best practices and procedures regarding blockchain technology and digital assets.

INTERNAL CONTROL

Chair: Jay Schulman, RSM US LLP

The Internal Controls Working Group will provide information, analysis, and deliver use cases that focus on the internal tools and solutions companies have to adapt or may need to acquire to meet the updates and changes to information systems around the growing industry. The group will also focus on change management and legal compliance.

REGULATORY COMPLIANCE

Chair: Daniel Morris, Morris + D’Angelo

The Regulatory Compliance Working Group will review, discuss and share information and guidance regarding compliance with tax and accounting regulations in a new era of distributed ledger technology, blockchains and digital assets. This working group will provide guides and information on requirements on how to register and maintain regulatory compliance and what you need to supply to regulators in addition to information regarding jurisdictions and states regulations. The initial focus will be on US tax regimes with the expectation of quickly branching out into international tax regimes initially on a comparative basis.

TAXATION

Chair: Mario Costanz, Happy Tax

Co-Chair: David Deputy, Vertex, Inc.

The Taxation Working Group will review, discuss, document and share existing industry best practices for operational process improvement and the tax treatment of digital assets including the impact of token classifications, gains and income from sales/forks/mining, token exchange implications, inventory and valuation methods, tax filings, and jurisdictional variances to get started. The initial focus will be on US tax regimes with the expectation of branching out into international tax regimes initially on a comparative basis.

Join Today

To become a member of the ABC and begin contributing to one or more of the working groups above, click here. If you are a member of the ABC and are interested in participating in a working group, please click here to visit the Community.