The underfunded Internal Revenue Service has been relying on ancient technology to generate paper audits that target tax benefits, such as the Earned Income Tax Credit, for lower-income households. Th...
Tag: Audits
Crypto Twitter labels Senator Warren ‘tone deaf’ on crypto audits amid SVB meltdown
Ad U.S. Senator Elizabeth Warren’s latest tweet about “sham crypto audits” and holding auditors “accountable” has caused a furor among the Twitter crypto community. The community said the tweet was Wa...
Senator Warren slams fake audits amid SVB collapse – Cryptopolitan
United States Senator Elizabeth Warren has hit out at the fake audits currently ongoing in the crypto market. In a statement released by Senator Warren and Wyden, the lawmakers tasked the oversight bo...
Sen. Warren calls out ‘sham audits’ while SVB threatens crypto bankruptcy
United States Senators Elizabeth Warren and Ron Wyden asked the Public Company Accounting Oversight Board (PCAOB) to hold auditors accountable for failed crypto projects. The PCAOB — a non-profit ove...
Biden’s IRS Nominee: Agency Will Increase Audits of Wealthy Taxpayers
President Joe Biden’s nominee to lead the Internal Revenue Service pledged to increase scrutiny of certain wealthy taxpayers at his confirmation hearing Wednesday before the U.S. Senate Committee on F...
Aave Launches Stablecoin GHO on Ethereum Goerli Testnet with Open Source Codebase and Audits – Altcoins Bitcoin News
Aave Companies, the firm behind the decentralized finance (defi) project Aave, has announced the launch of a stablecoin called GHO on the Ethereum testnet network Goerli. The codebase is available on ...
Binance APAC Head Claims Crypto Firms Must Wait for Full Audits
Binance’s Asia-Pacific chief Leon Foong said that accounting firms must develop standards to address crypto volatility before they can fully audit crypto firms. Foong said that Binance will only condu...
KardiaChain partners with Vibranium Audits & revolutionizes dApp
KardiaChain happens to be extremely pleased to make their announcement officially of having formed a strategic partnership with Vibranium Audits. This very entity happens to be a very well-known provi...
Flare (FLR) Partners with Security Expert FYEO for Audits
Vladislav Sopov With new collaboration, Flare (FLR) will launch ongoing program of security audits for its entire codebase and smart contracts architecture Contents Flare (FLR) scores partnership with...
Flare Partners With Blockchain Security Specialist FYEO For Ongoing Audits
[PRESS RELEASE – Dubai, UAE, 26th January 2023] Flare is pleased to announce an official partnership with blockchain security specialist FYEO. The firm will perform ongoing security audits of Flare’s ...
Matter Labs fixes security issues in zkSync Layer 2 after OpenZeppelin audits
OpenZeppelin, a provider of smart-contract security solutions, has released the results of its latest security audits on zkSync, a zero-knowledge, proof-based scaling solution developed by Matter Labs...
Sens. Warren and Wyden criticize PCAOB over its handling of crypto audits
Democratic Sens. Elizabeth Warren of Massachusetts and Ron Wyden of Oregon are raising concerns over a government audit-overseer’s credibility following the fallout from failed cryptocurrency ex...
Here’s everything you need to know about deadlines, refunds, audits and more
Here we go again. Starting Jan. 23, the 2023 tax season will be officially underway, as the Internal Revenue Service begins accepting and processing 2022 returns. After a squishy few years of malleabl...
What are proof-of-reserves audits, and how do they work?
With the rising interest in digital assets from institutional and retail investors, custody options have also experienced parallel growth. As a result, different kinds of custody choices have evolved ...
‘I Take Payment in Bitcoin’; Big Short Investor Says Audits of Exchanges like Binance and FTX Are ‘Meaningless,’ and More — Week in Review – The Weekly Bitcoin News
Ahead of the holidays and new year, the former U.S. National Security Agency (NSA) contractor known to the world as a staunch privacy advocate and whistleblower, Edward Snowden, has offered to step up...
SEC Official Hints of Increasing Scrutiny on Crypto Firm Audits
Cryptocurrency market has been through a tough phase during the whole year where the fall of many prominent companies only made it worse. Financial regulators were expected to step-in and make efforts...
IRS conducted Biden audits, House passes requirement for IRS audit of president
The IRS has conducted audits on the federal income taxes of President Joe Biden and first lady Jill Biden for the last two years, one of which required the first couple to pay slightly more than origi...
Armanino defends its past FTX.US audits
A top Armanino executive defended auditing work that his company performed for FTX.US during an interview published by the Financial Times on Dec. 23. Armanino’s chief operating officer, Chris Carlber...
US SEC warns investors against ‘false’ audits by crypto firms
The Securities and Exchange Commission (SEC) through its acting chief accountant, Paul Munter, has warned investors to be “very wary” of the proof-of-reserves (PoR) of crypto firms, as most of them ma...
Be ‘very wary’ of crypto proof-of-reserve audits: SEC official
A senior official from the United States Securities and Exchange Commission has warned investors to be “very wary” about relying on a crypto company’s “proof-of-reserves.” “We’re warning investors to ...
Crypto Audits Not Enough, Says SEC
The US Securities and Exchange Commission is increasingly scrutinizing audits performed for cryptocurrency companies, with concerns over their legitimacy. These crypto companies have been seeking to d...
Crypto Firms’ ‘Audits’ Appear in SEC’s Crosshairs
Alex Dovbnya Securities and Exchange Commission (SEC) intensifying its examination of involvement of accounting firms in dubious cryptocurrency audits According to a Thursday report by The Wall Street...
Michael Burry of “Big Short” Fame Says Crypto Audits Are Meaningless
Alex Dovbnya Prominent investor Michael Burry poured cold water on audits conducted by major crypto firms Prominent investor Michael Burry criticized the audits conducted by various cryptocurrencies i...
‘Big Short’ Michael Burry says crypto audits are useless
Famous investor Michael Burry, who predicted the mortgage crisis in 2007, smashes the now-famous crypto audits, known as proof-of-reserves. In a recent tweet, Burry draws a parallel between credit swa...
Michael Burry Reacts on Binance Audits – Here’s What He Has to say
How likely is a catastrophe on Binance on par with FTX, if at all, or is this all just a lot of fuss? The cryptocurrency exchange Binance has faced criticism and “FUD” (fear, uncertainty, and doubt) f...
Big Short Investor Michael Burry Says Audits of Crypto Exchanges Like Binance and FTX Are ‘Meaningless’ – Coinotizia
Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, says the problem with auditing cryptocurrency exchanges, like Binance and FTX, is the same as when he started using a...
Big Short Investor Michael Burry Says Audits of Crypto Exchanges Like Binance and FTX Are ‘Meaningless’ – Featured Bitcoin News
Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, says the problem with auditing cryptocurrency exchanges, like Binance and FTX, is the same as when he started using a...
Major accounting firms are steering clear of crypto audits
The collapse of Bahamas-based FTX triggered a sense of distrust for centralized exchanges in the crypto industry. This was followed by increasing demands for transparency regarding the assets, liabili...
Audits firms Armanino, Mazars ditch crypto clients in wake of pushback
Audit firms Armanino and Mazars are set to drop their crypto clients following controversies and community pushback. Armanino, Mazars jump ship Auditors Armanino and Mazars count several high-profile ...
Accounting Firm Mazars Stops Proof-of-Reserve Audits for Crypto Firms, Binance Audit Removed From the Web – Bitcoin News
The accounting firm Mazars Group has stopped doing proof-of-reserves (POR) audits for cryptocurrency exchanges and the recently published Binance POR has been removed from the web. Mazars was conducti...
Binance’s reserve auditor Mazars suddenly stops crypto audits
Ibiam Wayas Ibiam is an optimistic crypto journalist. Five years from now, he sees himself establishing a unique crypto media outlet that will breach the gap between the crypto world and the general p...
CZ Binance on Audits, FTX, the $2.1 Billion SBF Buyout in 2021, and Recent Withdrawal Spree
Changpeng Zhao – CEO Binance – agreed that the collapse of FTX has caused some panic in the space. He also reiterated that the fact that they were audited by a somewhat reputable firm caused others in...