SEC chief accountant warns accountants about liabilities when auditing crypto corporations

Paul Munter, chief accountant of america Securities and Alternate Fee (SEC), has launched an announcement warning accounting corporations of their obligations to the company when working with crypto corporations. Permitting their discovering to be misrepresented may have critical penalties, he mentioned.

Crypto corporations could interact accountants to “carry out some form of evaluate of sure components of their enterprise, usually introduced as a purported ‘audit’” and falsely current the work as being similar to a monetary assertion audit, Munter wrote. Doing so is just not solely deceptive, however it could possibly have authorized legal responsibility.

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