Global Auditors Took Interest In Crypto Sphere
The best audit firms have recently started employing specialists in the crypto field and blockchain to provide services to institutions that operate in this poorly regulated sphere, Financial Times reports.
After cryptocurrencies prices had tremendously jumped up by the end of 2017, an incredible number of digital startups were developed. In this regard, the Big Four firms (including PricewaterhouseCoopers (PwC), EY, KPMG) began to intensively offer their services in this area, despite the lack of necessary knowledge to prevent fraud on cryptomarkets and money laundering.
The Big Four representatives are increasing investments for hiring experts in order to introduce their own decentralized technologies. Thus, they will provide an appropriate audit service for crypto companies.
Jeanne Boillet, global assurance innovation leader at EY, said that more than 150 clients working with crypto sphere from all over the world had been involved by the autumn of 2018. She supposes that their project is necessary to help the clients' development. EY's customers include crypto exchanges, crypto mining companies, as well as firms based on blockchain system.
PwC also stated that recently their client database has extended, as a result, they've hired 400 specialists to provide audit not only among crypto systems, but blockchain companies as well.
Both companies have already launched their own audit programs based on the blockchain technologies. Also, EY announced that it is going to open seven decentralized platforms for the digital ecosystem soon.
As previously reported, in Malta crypto agents didn't pass a certification exam.