@inproceedings{719180548c174e9f8989c0a361378281,
title = "Blockchain-based distributed compliance in multinational corporations{\textquoteright} cross-border intercompany transactions: a new model for distributed compliance across subsidiaries in different jurisdictions",
abstract = "Multinational Corporations (MNCs) have been facing increasing challenges of compliance and audit in their complex crisscrossing intercompany transactions which are subject to various regulations of across various jurisdictions in its global network. In this paper, we investigate these challenges and apply Blockchain-based distributed ledger technology to address them. We propose a Blockchain-based compliance model and then build a Blockchain-based distributed compliance solution to enable automatic distributed compliance enforcement for an MNC{\textquoteright}s cross-border intercompany transactions across all Jurisdictions of the MNC{\textquoteright}s network. This solution can help an MNC reduce the risk of compliance and audit, and enhance the capability of responding to various audits efficiently even after many years, thus improve the trust relationship and reputation with various auditors.",
keywords = "Audit, Blockchain, Compliance, Distributed ledger technology, Documentation, Intercompany transaction, Multinational corporation, Transfer pricing",
author = "Wenbin Zhang and Yuan Yuan and Yanyan Hu and Karthik Nandakumar and Anuj Chopra and Sam Sim and \{De Caro\}, Angelo",
note = "Publisher Copyright: {\textcopyright} 2019, Springer Nature Switzerland AG.; Future of Information and Communication Conference, FICC 2018 ; Conference date: 05-04-2018 Through 06-04-2018",
year = "2019",
doi = "10.1007/978-3-030-03405-4\_20",
language = "English",
isbn = "9783030034047",
series = "Advances in Intelligent Systems and Computing",
publisher = "Springer Verlag",
pages = "304--320",
editor = "Rahul Bhatia and Supriya Kapoor and Kohei Arai",
booktitle = "Advances in Information and Communication Networks - Proceedings of the 2018 Future of Information and Communication Conference FICC, Vol. 2",
}