1.8 KiB
EU, UK, Japan, Australia, Canada (2024), Brazil, India, South Korea, and most
EU, UK, Japan, Australia, Canada (2024), Brazil, India, South Korea, and most of Asia and Africa. The US (GAAP) is the major holdout.
Why it matters: IFRS 17 and IFRS 9 are algorithmically complex rule sets. Getting an actuarial model or credit loss calculation wrong is a financial reporting error. The gate stack's ACL2 prover can verify that the calculation implementations match the standard's mathematical requirements. First-mover advantage: IFRS 17 was the largest accounting change in a decade. Implementation was a crisis for insurers. The next wave (IFRS 18, sustainability disclosures via ISSB) is coming. A verified IFRS gate package is a unique value proposition.
UN/CEFACT (UN Centre for Trade Facilitation and Electronic Business)
UN standards for electronic data interchange (EDI), trade facilitation, and cross-border data exchange. Key standards: UN/EDIFACT (trade data), Core Component Library (CCL), Multi-Modal Transport Reference Data Model. Basis for WTO Trade Facilitation Agreement compliance.
Who must comply: Customs authorities, logistics providers, trade finance banks, exporters/importers in 170+ WTO member countries.
Why it matters: Cross-border trade data exchange is rule-intensive (tariff classification, rules of origin, customs valuation, sanitary/phytosanitary requirements). The gate stack can encode trade compliance rules and prove that every cross-border data exchange satisfies the applicable regulation. First-mover advantage: trade compliance is a $15B market dominated by legacy SAP/Oracle modules and customs brokerages. None use verification.