One of the “Big four” auditors, Ernst & Young (EY) has acquired American startup Elevated Consciousness technology assets and related patents. One of them came a tool called Andy Crypto-Asset Accounting and Tax (CAAT), which can be connected to different exchanges and wallets and use for monitoring cryptocurrency transactions. This writes BlockTribune.
Representatives from EY saying that this tool displays the firm leaders in the audit market, allowing you to serve different organizations, that implement in their processes cryptocurrency assets.
“This transaction is another element in creating a portfolio blockchain and cryptocurrency solutions for our business lines. Tax strategy, planning and its implementation will be a key part of everything we create – from supply chain management solutions and software licensing”, — said Paul Brody, the head of the division of global innovation and blockchain EY.
According to him, the CAAT will be integrated into the portfolio of solutions called the Blockchain Analyzer with the aim of creating the most comprehensive set of technological services in the field of tax reporting and insurance.
We will remind, earlier this year the Federal U.S. internal revenue service (IRS) announced the creation of a specialized group of ten investigators to identify cases of evasion of taxes on income, related to cryptocurrency transactions.