Senator Elizabeth Warren Unveils ‘Sham’ Crypto Audit Scheme
Senator Elizabeth Warren, a prominent US lawmaker, has voiced her concerns about the potential for “sham audits” of cryptocurrency companies, which could be contributing to the recent stresses in the US banking system. With another colleague, Warren has urged the Public Company Accounting Oversight Board (PCAOB) to take action against this practice, citing the potential harm it could cause to the integrity of the auditing system.
The PCAOB is authorized and overseen by the US Securities and Exchange Commission (SEC) and is funded by audited public companies. Warren and her colleague have argued that the watchdog has more legal reach than it is currently exercising and has a “broad responsibility” to protect the integrity of the auditing system. They have called on the board to take action against sham audits, which they say mislead the public and threaten the integrity of the auditing system. The issue of crypto auditing has been a topic of discussion in recent months, with the PCAOB acknowledging the potential problem and stating its concerns in a letter to the lawmakers. PCAOB Chair Erica Williams.
Source
https://t.me/Bitcoin_Crypto_Coin_Calendar
