Audit

Michael Burry, the investor who foresaw the housing market crash in 2008, is skeptical about today's proof-of-reserve audits.

The accounting firm Mazars Group halted work for Binance and other crypto firms on reports that are meant to demonstrate that the companies hold the necessary reserves.

The Committee of Sponsoring Organizations of the Treadway Commission selected Lucia Wind, vice president of internal audit at the technology company Unisys, as its next board chair, succeeding Paul Sobel, for a three-year term starting Jan. 1, 2023.

Mazars Group has halted all work for crypto clients, dealing a blow to an industry seeking to shore up confidence in the wake of FTX's collapse.

The board voted yesterday that local authorities are not obstructing its ability to conduct inspections in the mainland and Hong Kong.

A proof of reserves report, based on a snapshot review by Mazars, showed the exchange having sufficient crypto assets to balance its total platform liabilities, but acknowledged limitations.

Traders move to take custody of their tokens despite a proof of reserves audit amid revelations that rival FTX may have misused customer funds.

The board is stepping up its enforcement activities with a mostly new slate of board members.

In this edition of the Frontier, Marcum's CIO talks about how the audit solutions market may evolve in response to recent trends.