Blockchain and smart contracts company Libra has hired Siemens’ former chief risk officer (CRO) Dr Gerard Brennan as its director of audit technology.
Dr Brennan is also an adjunct professor at Rutgers University teaching “Advanced Auditing & Information Technology” to MBA students.
Libra founder and CEO Jake Benson commented on the hire: “As an experienced CRO, Rod understands what’s needed for mission critical risk and audit teams within organisations to support the operationalisation of enterprise blockchains. We are extremely excited he has joined the team.”
Dr Brennan also serves on the advisory board of Rutgers’ Continuous Auditing & Reporting Lab, an academic research organisation exploring auditing and accounting technologies.
The new director of auditing said: “Libra is at the cutting edge of how audit processes will adapt as organisations adopt distributed ledger technologies (DLT).
“My expectation is that as enterprises adopt blockchain-based systems for core processes, they will also seek to improve supporting processes such as audit and compliance.
“Because certain audit processes must occur in supplemental systems, which are separate and distinct from the blockchain system itself, Libra is perfectly positioned to leverage its technology to build and deliver the next-generation solutions auditors will need.”
The new hire coincides with the extension of Libra’s enterprise platform called Libra Modules.
The firm says these will offer additional domain-specific functionality for auditors, regulators and tax professionals.
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Copyright © 2018 RegTech Analyst
