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Press Release

Tuesday, December 10, 2019

TrustToken Utilizes Armanino’s Real-Time Audit Solution


TrustExplorer Utilizes Blockchain Technology to Provide On-demand Attest

SAN RAMON, Calif. (Dec. 10, 2019) – Armanino LLP, one of the 25 largest accounting and business consulting firms in the U.S., today announces that TrustToken has started utilizing the firm’s real-time audit application. Utilizing blockchain technology to connect on-chain data with off-chain data, the TrustExplorer real-time-audit solution provides downloadable attest reporting to all site visitors. This capability is a paradigm shift, because it allows highly-available trust and transparency, all under audit examination standards and backed by the firm’s opinion.

TrustToken, the world’s fourth largest stablecoin issuer, is the first stablecoin issuer to embrace this level of reporting and transparency. TrustExplorer supports Ethereum and BinanceChain nodes to obtain audit evidence for the TrueUSD stablecoin.

“For years, thought leaders have predicted the future arrival of real-time auditing capabilities, and now Armanino has accomplished the world’s first business application of this theorized innovation,” said Matt Armanino, CEO of Armanino LLP. “This breakthrough is a catalyst that will lead to the widespread development and adoption of real-time auditing that will render obsolete the current standards best practices. This evolution will provide more precision and more trust to ecosystems as attestation reporting windows are reduced from 30 days down to 30 seconds.”

With real-time attest, Armanino is able to collect and preserve evidence continuously, conduct risk assessment at inception and ensure accuracy through automated controls supported by periodic manual procedures. Instead of relying on “point-in-time” reports that are stale as soon as they are distributed, real-time audits ensure information is always current and relevant.

“TrustExplorer serves as our roadmap for how to take immutable tamper-resistant systems like blockchains, and harness them to provide attestation opinions both in real-time and with accuracy that cannot be contaminated by human error,” said Andries Verschelden, partner and blockchain practice leader at Armanino. “This is a clear-cut example of how blockchain technology is already changing business processes to optimize accuracy, security and speed.”

A technical whitepaper on TrustExplorer and real-time audit can be viewed by visiting: https://learn.armaninollp.com/trustexplorer-blockchain-contact/

To learn more about Armanino’s blockchain practice, please visit: https://www.armaninollp.com/services/blockchain/

About ArmaninoLLP
Armanino LLP (www.armaninollp.com) is one of the 25 largest independent accounting and business consulting firms in the nation. Armanino provides an integrated set of audit, tax, business management, consulting and technology solutions to companies in the U.S. and globally. The firm helps clients adapt and change in every stage of business, from startup through rapid growth to the sale of a company. Armanino emphasizes smart technology, leading a cloud revolution of financial, operational, sales and compliance tools that are transforming the way companies do business. The firm extends its global services to more than 100 countries through its membership in Moore Global, one of the world's major accounting and consulting membership organizations. In addition to its core consulting and accounting practices, Armanino operates its division, AMF Media Group (www.amfmediagroup.com), a media and communications services agency. Its affiliate, Intersect Capital (www.intersectcapitalllc.com) is an independent financial planning, wealth and lifestyle management firm.