Accounting

Accounting

政策

Crypto Sector’s Reserve Reports Can’t Be Trusted, Says U.S. Audit Watchdog

Proof-of-reserve reviews aren’t audits, says the Public Company Accounting Oversight Board, and investors shouldn’t count on them.

(Krisanapong Detraphiphat/Getty Images)

テクノロジー

Former Accounting Team of FTX US Auditor Armanino Sets Up Shop as The Network Firm

The episode highlights yet another chokepoint for the blockchain industry: It's become harder for crypto startups to enlist big accounting firms to do audits and asset attestations.

(Unsplash, modified by CoinDesk)

政策

Crypto Lawyers Share Blame for FTX, Other Disasters, CFTC Commissioner Says

Gatekeepers such as lawyers, accountants and investment firms should have insisted the crypto industry handle itself in a safer fashion, Commissioner Goldsmith Romero argued.

Commissioner Christy Goldsmith Romero (Jesse Hamilton/CoinDesk)

Layer 2

'A Complete Failure of Corporate Controls': What Investors and Accountants Missed in FTX’s Audits

An expert review of FTX’s audited financial statements reveals a series of red flag related-party transactions that should have led to more scrutiny of the company’s operations.

FTX CEO Sam Bankman-Fried (Danny Nelson/CoinDesk)

金融

Meet the Metaverse Nightclub–Loving Audit Firm That Presided Over FTX’s Financials

FTX auditor Prager Metis reported the company earned $1 billion in revenue in 2021. An investigation by CoinDesk reveals Prager Metis also operates in Decentraland, where it sponsors the “Decentraland Babydolls.”

FTX Trading LLC auditor Prager Metis hosted a metaverse office launch party at Dencentraland coordinates (19, 144) in October. (Prager Metis)

政策

US Accounting Standards Board Member Supports Reporting Crypto Swings as Income: Bloomberg

If adopted, the move would mean cryptocurrency gains and losses would directly impact companies’ earnings.

Old fashioned ledger (Getty Images)

金融

FASB Mulls Fair-Value Accounting for Crypto Holdings: Report

Fair-value accounting for crypto will encourage companies to put bitcoin on their balance sheet, according to Michael Saylor.

A spreadsheet printout lies on top of a calculator

金融

Real-Time Accounting Platform Integral Raises $8.5M in First Round of Funding

Investors included some notable names from the crypto industry, such as figures from Coinbase, Anchorage and Dapper Labs.

A spreadsheet printout lies on top of a calculator

政策

SEC's Crypto Guidance Pushes US Banks to Rethink Custody Projects: Report

The regulator suggests that customers' crypto assets should be treated as liabilities by lenders, which could be "prohibitively costly" for banks.

Comisión de Bolsa y Valores de Estados Unidos. (Jesse Hamilton/CoinDesk)

政策

FASB Crypto Accounting Review Won’t Include NFTs, Certain Stablecoins: Report

The accounting standards body outlined its criteria for crypto assets that would be covered by a forthcoming rule regarding companies and their digital assets.

A spreadsheet printout lies on top of a calculator