{"id":20363,"date":"2023-07-29T03:18:50","date_gmt":"2023-07-29T03:18:50","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/hester-pierce-strikes-back-against-sec-crypto-warning-to-accountants\/"},"modified":"2023-07-29T03:18:52","modified_gmt":"2023-07-29T03:18:52","slug":"hester-pierce-strikes-back-against-sec-crypto-warning-to-accountants","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/hester-pierce-strikes-back-against-sec-crypto-warning-to-accountants\/","title":{"rendered":"Hester Pierce strikes back against SEC crypto warning to accountants"},"content":{"rendered":"
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Hester Pierce, commissioner of the United States Securities and Exchange (SEC), has raised concerns about the watchdog’s recent statement advising accounting firms against taking on non-audit work for crypto firms.<\/p>\n
In a July 28 tweet, Pierce questioned the recent statement made by the SEC’s chief accountant Paul Munter, warning accounting firms against engaging in assurance work for crypto platforms outside the scope of a full financial audit.\u00a0<\/p>\n
Pierce suggested that Munter’s statement advising accounting firms to take an all-or-nothing approach, could result in crypto firms refraining from making\u00a0sincere efforts\u00a0due to fear.<\/p>\n
\u201cWhy would we want to discourage good-faith efforts to provide more transparency?\u201d Pierce stated in a tweet.<\/p>\n
\nCrypto platforms & their accountants should be clear about what proof of reserves is and isn’t & customers should understand the limitations, but why would we want to discourage good-faith efforts to provide more transparency? https:\/\/t.co\/fsuxUGPrrb<\/p>\n