An audit is conducted by an auditor to ensure the accuracy of the financial statements, like Balance Sheet, Income Statement, etc. presented as part of the audit reports. Audited documents are universally accepted as verified financial statements that are used by different organizations to make their business related decisions.
The necessity of having tamper free documents is felt the most by the Audit industry as it involves the creation and transfer of financial documents. This industry faces the maximum number of frauds, and duplicity.
Lately, financial institutions and the audit industry have been focusing on finding ways by which it can create documents that cannot be tampered with and can be verified for accuracy. This problem can be solved by using ProofEasy’s decentralized blockchain technology.
Blockchain technology - A solution
ProofEasy’s blockchain technology helps encrypt and secure your documents on a safe server, it can be easily used by anyone to verify documents using a QR scanner app.
Given below are a few ways in which ProofEasy’s blockchain technology can help solve the problems of the audit industry:
Creating a paperless environment
Looking at the number of frauds and duplicacies taking place in the audit industry, creating a paperless environment is the need of the hour. It will also make the documents more manageable and reduce bulkiness. ProofEasy helps you make use of blockchain technology to go paperless and minimize the possibility of fraud induced losses.
Makes validation easy
With ProofEasy’s decentralized blockchain enabled technology, you can secure your documents by creating a unique QR code and hash value. It acts as an independent and trusted source of verification that can be easily verified by anyone using a QR scanner app. This negates the possibility of tampering with documents thus, preventing frauds.
Makes sharing easy
With more and more companies going digital, sharing has become easier than ever. Now you can share any document online within seconds with people across the globe. Geographical boundaries are no more a constraint. Rather than sharing the large-sized documents, you just need to share the verification link sent to your email or copy the link from the system to share it with users of your document. You can also click on the share button to share the document directly from the system.
Confidentiality of Documents
ProofEasy helps maintain the confidentiality of your documents. Only the users authorized by you during the securitisation process can view the documents. The documents secured using blockchain technology are unalterable even by the issuer and documents cannot be hacked or reverse-engineered.
Always unique to a particular document
Can't be altered by even the issuer of the document
Not possible to hack
Can't reverse engineer a document
Being a part of the Audit industry requires being vigilant and careful of the possible frauds. ProofEasy is the solution to your problems. It helps secure your documents in a unique way using blockchain enabled encryption technology. It is a great way to share documents online while ensuring their safety.