“FTX’s auditor recently agreed to settle misconduct charges with the SEC. Jack Castonguay says auditors working with the crypto industry should take notice.”, — write: www.coindesk.com
agreeing to pay $745,000.
These charges are good for the industry, good for investors, and should help deter similar actions by opportunistic accounting firms in the future.
Prager Metis, which is based in New York, rushed into the latter space with abandon. The firm was the first to announce a metaverse headquarters in Decentraland. The firm took on FTX as a client. It apparently wanted to be seen as the accounting firm of the future. And yet, as the SEC has charged, it lacked the basic understanding and competency to audit the industry.
Edited by Benjamin Schiller.
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