Auditchain joins Object Management Group

AUDITCHAIN Labs has announced its membership of Object Management Group (OMG).

The specialist in Web3 and artificial intelligence-based reporting has teamed up with the non-profit consortium which helps to globally set technology standards.

Auditchain Labs AG has gained prominence after developing the world's first Web3 and AI-powered financial reporting protocol – a solution which aims to enhance the accuracy of financial disclosure and elevate the rigour of external audits, ensuring a more truthful representation of financial data.

In November, Auditchain marked a significant milestone by submitting its ground-breaking Standard Business Report Model (SBRM) specification to OMG. The SBRM specification introduces a paradigm shift by automating bi-directional structured data interchange and imposing logical constraints on structured financial disclosure data.

"We are thrilled to join OMG to redefine and advance financial reporting standards globally," said Jason Meyers, Lead Architect at Auditchain Labs AG.

"OurSBRM specification reflects our commitment to transparency, accuracy, and the seamless integration of AI into financial reporting processes."

Renowned for its commitment to creating technology standards Object Management Group® provides a collaborative platform for the development and refinement of cutting-edge standards.

"We welcome Auditchain Labs AG to our diverse community of members," said Bill Hoffman, chairman and CEO at OMG.

"Their knowledge and expertise in Web3 and AI-based financial reporting will help push the boundaries of financial reporting technology standards. We look forward to the contributions Auditchain Labs AG will make to our collaborative ecosystem."

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