FTX's Downfall Couldn't Have Happened Without SBF's Fraud – Or Prager Metis' Audit Failure
FTX's auditor recently agreed to settle misconduct charges with the SEC. Jack Castonguay says auditors working with the crypto industry should take notice.
Keep up with what's happening in the crypto world in real-time.
FTX's auditor recently agreed to settle misconduct charges with the SEC. Jack Castonguay says auditors working with the crypto industry should take notice.
The SEC alleged that the auditor failed to comply with auditing standards and establish connections between FTX and Alameda Research. The auditor violated rules while auditing over 200 companies between 2017 and 2020.
The Securities and Exchange Commission (SEC) has announced a settlement with audit firm Prager Metis that includes charges related to the firm's audits of FTX. The settlement resolves two actions, including SEC allegations about the firm's audits of the now-bankrupt cryptocurrency exchange and auditor independence violations, the SEC said in a Tuesday (Sept.
Accounting and consulting company Prager Metis CPAs and its California-based affiliate are now $1.95 million lighter. The SEC nailed them for two counts of misconduct during their audits of FTX.
FTX's former auditor Prager Metis reached a settlement agreement with the SEC over failures in its review of the collapsed crypto exchange.
The U.S. Securities and Exchange Commission (SEC) has reached a $1.95 million settlement with Prager Metis CPAs LLC and its affiliate over serious allegations related to their audits of crypto exchange FTX. The case highlights critical oversights and violations of key industry standards, raising questions about the firm's practices and the risks it missed.
The U.S. SEC and Prager Metis have agreed to resolve claims of the auditor's negligence related to the defunct crypto exchange FTX. Auditor Prager Metis consented to pay $1.
International accounting firm Prager Metis has agreed to pay $745,000 to settle misconduct allegations from the U.S. Securities and Exchange Commission (SEC) tied to its bungled audit of FTX before its collapse in November 2022.
The regulator alleges that Prager issued two audit reports for FTX between February 2021 and April 2022 that falsely represented auditing standards.
Audit firm Prager Metis agreed to settle charges with the Securities and Exchange Commission related to its investigation of FTX.
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