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Still, it wasn’t until almost two decades later, with the launch of Bitcoin in 2009, that it had its first real-world public application. Everything from sourcing materials to manufacture, logistics and sale, and all by recording data about each component in a permanent, auditable, visible manner.
Companies may also incur expenses related to potential restitution, program reviews, audits, and retrofitting or redesigning of processes and systems. Satyam Computer Services , an Indian IT services company, faced a major financial shadow spend scandal in 2009.
They just don't have the manpower to audit even a tiny fraction. So, maybe that's all they'll do is do a tiny fraction, and the rest will just get automatically approved, or they'll approve them conditionally, and then reserve the right to go back and audit years later. They don't know if they're gonna have. They're already in debt.
CFO 07:41 – Auditors Struggle to Access Data, Count Inventory During Remote Work – Wall Street Journal 07:47 – 8 things to know about the audit evidence standard – AICPA 09:17 – DOJ: 57 Charged With Alleged PPP Fraud – PYMNTS.com 10:10 – More on Liar Loans – Wikipedia 11:52 – Quickie lender Kabbage doled out billions in PPP loans.
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