StockOpine's avatar
$42.5m follower assets
Armanino and Prager Metis - $FTT.X Auditors
An FT article worth reading regarding the auditors of the recent FTX fiasco. It seems that no response was provided by any of these firms regarding the audit scope whereas per the article "Bankman-Fried blamed mistaken accounting of the exchange’s liquidity and leverage for the collapse."

"A report in August by the Public Company Accounting Oversight Board, regulator of the US audit profession, said its inspectors found deficiencies in all four of the public company audits carried out by Prager Metis that they looked at. The firm told the PCAOB it was working to fix the issues.

The group has a digital assets practice it says provides services to crypto exchanges, issuers of non-fungible tokens and crypto hedge funds, among other clients. It has also sought to offer advice to businesses setting up operations in the immersive virtual worlds known as the metaverse."

Todor Kostov's avatar
StockOpine's avatar
@kostofff as scary as it gets. We also wonder how the due diligence was performed by the financial advisors who advised institutional investors to invest in FTX!
Todor Kostov's avatar
@stockopine Some funny things going on ...

Author

Related