Lukka’s Head of Accounting Solutions, Suzanne Morsfield, spoke at the World Continuous Auditing and Reporting Conference with Robert Hertz, a Lukka advisor and former Chairman of the Financial Accounting Board, about valuation of cryptocurrencies.
The two explored the accounting and valuation challenges presented by assets in the crypto ecosystem. Suzanne noted that aspects of traditional accounting like market close, standard ticker symbols, and regulation are absent from the crypto ecosystem, adding complexity to accounting processes. Robert noted the accounting challenges that stem from inaction by standard-setting boards considering how to address crypto, and how attuned the accounting community is to anticipated formal guidance.
Both experts explained how Lukka addresses these challenges using Lukka Prime. Suzanne covered how the Lukka Prime methodology identifies the principal market, and identifies a fair value-based exit price to accurately value every asset. To learn more about Lukka Prime and its methodology, read Lukka’s whitepaper on the subject.
