Northern Trust Enables Audit Access for Private Equity Blockchain
The enhancement aims to enable real-time auditing of private equity firms and add transparency into the process.
The bank’s blockchain, developed with input from PwC Channel Islands and other Guernsey-based auditing firms, allows companies to gain access to information via the blockchain and perform real-time auditing. Audit companies have the ability to move the data to internal applications or to build their own tools to act on information from the blockchain.
Peter Cherecwich, president of corporate and institutional services at Northern Trust, says auditors do already have access to a private equity
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