Deloitte & Touche Completes Governance Review
Governance Representations by GoldMoney Authenticated; System
Reliability Tested
21 August 2001 - GoldMoney has today announced that a review of its
governance procedures and system reliability has been completed by
Deloitte & Touche.
This extensive review has been underway since April, and was
completed with the assistance of Dimension Data, the company that
designed and built GoldMoney's systems and software. Twelve areas
were examined, including governance procedures, system security,
confidentiality of client information, and other vital areas such as
system reliability. The full scope of the review and its conclusions
can be accessed through the www.GoldMoney.com website.
"We've passed this extensive, wide-ranging review with flying
colours," said James Turk, Managing Director of GoldMoney. He stated
that the purpose of this review is to provide users with assurances
of integrity both about GoldMoney system reliability as well as the
representations GoldMoney makes to all of its users, particularly
those relating to governance.
"Our established governance procedures we believe set the highest
possible standard. And our users now have independent confirmation
that our representations are accurate. These include, most
importantly, that there is a one-to-one relationship of GoldGrams in
users' Holdings with grams of gold in the VIA MAT vault. While other
firms state that they are also a one-to-one system, to our knowledge
none of them have ever had their representations verified by an
independent, respected third party," James Turk added.
As part of this review, GoldMoney announced that users had 25,078.391
grams of gold in the VIA MAT vault as of 3 April 2001, the date of
the Deloitte & Touche review, and that as of that date, 25,078.391gg
were circulating as currency in users' Holdings. This total, which
establishes the one-to-one relationship necessary to prove that
GoldMoney is a one-to-one system, will continue to be announced in
future reviews.
GoldMoney has engaged Deloitte & Touche to complete a review on a
regular basis at six-month intervals. The objective is to provide
users with ongoing assurances that system reliability has not been
diminished and further, that GoldMoney continues to meet the high
governance standards it has established.
This report and the assurances of integrity it provides to users
highlight GoldMoney's commitment to continue improving its services.
The aim is to make GoldMoney even more useful in global ecommerce,
and to set the global standard for instantaneous, 24/7 non-repudiable
payments.
* * * * * * * * * * * * * * * * * * *
GoldMoney™ is the inventor of digital gold currency,
a groundbreaking achievement that is advancing
global ecommerce. GoldMoney is an online payment
system that combines the world's oldest money, gold,
with Internet technology to provide a safe, easy and
inexpensive way for anyone to transact business 24
hours a day. Payments are made electronically using
GoldGrams™, which are grams of gold that circulate
world-wide through the Internet. By combining gold
and Internet technology to produce "A Solid Currency
for Global Commerce"™, GoldMoney brings a new
proficiency to the way payments are made, offering
users peace of mind, ease of use and control of
costs.
For more information contact:
James Turk
Managing Director, GoldMoney
[EMAIL PROTECTED]
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