CLAUDE
FASB Finalizes New Accounting Standards for Crypto Assets
FASB's new ASU No. 2023-08 mandates fair value measurement for certain crypto assets, enhancing transparency and relevance in financial reporting, effective post-December 2024.
Congressional Memo Challenges SEC's SAB 121
Congress members question the enforceability of the Securities and Exchange Commission's Staff Accounting Bulletin 121, arguing it deviates from standard accounting practices, misrepresents custodians' responsibilities, and increases consumer risk.
SEC Charges FTX Auditor Prager Metis Over Independence Violations
The SEC has charged Prager Metis with violations of auditor independence laws, drawing attention due to its previous engagement with cryptocurrency exchange FTX, which filed for bankruptcy in 2022. The legal action emphasizes the crucial role of auditor independence in ensuring financial transparency and investor protection.
Digital Transformation in Finance and Accounting Accelerated by Pandemic, ISG Reports
The 2023 ISG Provider Lens™ report highlights the global transformation of finance and accounting departments due to COVID-19 lockdowns and remote work, relying on external providers for digital strategies and outcome-based contracts.
Binance Accounting Vulnerability Led to Uneven Distribution of About $20M HNT
The Helium Foundation says a bug in Binance’s accounting system caused users to mistakenly receive around $20 million worth of HNT token.
Accounting Firm Wolf & Company Pairs with Bitpay to Accept Crypto Payments
Leading regional CPA firm providing insightful financial accounting and audit services Wolf & Company partners with cryptocurrency payment processor BitPay to accept cryptocurrency payments
New York Crypto Accounting Startup Tactic Raises $2.6 Million Funding
Tactic offers solutions for businesses’ crypto and DeFi accounting needs, helping themselves successfully to raise $2.6 million in a funding round.
KPMG Unveils Blockchain-Based Climate Accounting Tool To Help Drive Environmental Sustainability
KPMG has unveiled a blockchain capability dubbed Climate Accounting Infrastructure (CAI) to help firms measure, report, and offset their greenhouse gas emission.
"The Wars to Come," Blockchain - A Game Changer for Auditors
Blockchain technology has the potential to upend Audit, Assurance and Control functions —Auditors need to stay attuned to emerging use cases. As Role and skillsets of Auditors will change as new Blockchain-based techniques and procedures emerge.
Coinbase Becomes First Custodian to Pass Two Major Security Evaluations
Coinbase Custody has become the first cryptocurrency custodian to obtain bot SOC 1 Type 2 and SOC 2 Type 2 evaluations.