Episode 22 | Suzanne Morsfield from Lukka on Valuation of Crypto Assets

The Accountant Quits Podcast

Crypto Assets are challenging the accounting bodies and standard setters around the world, since they vary greatly to the traditional assets like equities, bonds, commodities and estimating their fair value is no straightforward task. They are mostly unregulated, their markets never close and many can’t be turned into fiat currency.

One company who wants to solve the complex post trade blockchain data is Lukka, and as a crypto focused tech company, has developed a proprietary valuation methodology for crypto assets.

In this episode, I speak to Suzanne Morsfield, the Global Head of Accounting Solutions from Lukka.

Suzanne brings more than 15 years of data-driven international corporate reporting experience, and has worked for JP Morgan, Morgan Stanley, Ernst & Young, Thomson Reuters.

Suzanne also worked for the IFRS Foundation, where she led projects on improving financial reporting standards. Today Suzanne is contributing to bring more clarity to Crypto Assets and is co-chair of the Global Digital Asset & Cryptocurrency Association Accounting & Tax Working Group

In this episode, you will learn;

• What are the challenges valuing crypto;
• Why the classification method of Crypto Assets under Intangibles is criticized;
• The relevance of identifying a principal market for valuation;
• The valuation methodology developed by Lukka and much more.

This episode is brought to you by AuditChain - the world's first decentralized continuous audit and real time reporting protocol.

Traditional audit methodology focuses on “materiality”, not accuracy. We are constrained by time and cannot audit 100% of the transactions, and therefore we perform sampling.

AuditChain decentralizes audit and uses an independent assurance methodology that automates auditing tasks, and continuously audits 100% of the transactions.

With AuditChain, Chartered Accountants and professionals will write and own Process Control NFTs that automate internal and disclosure controls, where these NFTs pay royalties in return.

With more and more automation, accountants will increasingly find themselves becoming redundant. If you are a forward thinking CPA or Chartered Accountant, and want to participate and be in touch with the latest developments from AuditChain in decentralizing the audit profession using blockchain, you should apply for membership by visiting DCARPE Alliance.

If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes. It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. Together we can help accountants prepare themselves for a blockchain future.

For show notes and past guests, please visit theaccountantquits.com/podcasts/

Follow The Accountant Quits:

Instagram: instagram.com/theaccountantquits/

LinkedIN: linkedin.com/company/the-accountant-quits

Twitter: twitter.com/accountantquits