Libra Announces New Products to Support Distributed Ledger Technology (DLT) Systems and Recent Strategic Hire
New York, New York, May 22, 2017 (Newswire.com) - Libra, a global leader of control, compliance, and reporting software for blockchain and smart contract technology, is announcing product updates, as well as the hiring of Dr. Gerard (Rod) Brennan as Director of Audit Technology, effective May 15, 2017.
Rod joins Libra’s Executive team after retiring from a career at Siemens where, in his last role, he was the Chief Risk Officer of their North American business. He is also currently an adjunct professor at Rutgers University teaching “Advanced Auditing & Information Technology” helping MBA students learn how to improve the efficiency and effectiveness of audit processes through technology. Rod is an expert at leading and executing audit programs, understanding how and why current audit methods can and must be improved, and how auditors must better leverage technology to significantly improve assurance, prevent fraud, and reduce the growing cost of compliance.
“As an experienced CRO, Rod understands what's needed for mission critical risk and audit teams within organizations to support the operationalization of enterprise blockchains. We are extremely excited he has joined the team" said Jake Benson, Founder & CEO of Libra.
Dr. Brennan is also an advisory board member of Rutgers’ Continuous Auditing & Reporting Lab (CAR Lab); an organization recognized as the leading academic researcher on advancing the audit and accounting profession using next-generation technologies and methodologies.
"Libra is at the cutting edge of how audit processes will adapt as organizations 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,” said Rod Brennan, Director of Audit Technology.
He added, “I'm looking forward to meeting with organizations and key audit leaders to understand how to best leverage blockchain and smart contracts and then ensure Libra has the right solutions to meet the needs of their CRO’s and CAO’s."
In addition to hiring Dr. Brennan, Libra is officially announcing the development of extensions to the Libra Enterprise platform called Libra Modules. These modules will utilize the core functionality of the enterprise platform and offer additional domain-specific functionality for auditors, regulators, and tax professionals.
LibraAudit will enable continuous auditing and monitoring of the various components of a blockchain-based system specifically to meet the needs of an enterprise's internal audit function. LibraReg will provide regulators real-time and self-service access and reporting of blockchain-based systems. LibraTax will offer automated tax compliance associated with digital assets. Currently the industry-leading tax software for cryptocurrency traders, LibraTax is receiving enhancements for institutional interaction with digital assets ranging from crypto-fund administration, blockchain-based FX remittances, and initial coin offering (ICO) launches.
"Each of these modules builds off of our core Libra Enterprise platform to meet the very specific needs of very specific enterprise users. The modules are in various stages of development; we expect to be able to discuss client projects and product details in the 2nd half of 2017," said Jake Benson.
Libra is officially announcing these developments at Consensus 2017 at the Marriott Marquis in New York, N.Y., on May 22, 2017. To receive the latest updates, join Libra’s ‘Community of Interest’ at libra.tech/join.