Armanino defends its past FTX.US audits

A apical Armanino enforcement defended auditing enactment that his institution performed for FTX.US during an interview published by the Financial Times connected Dec. 23.

Armanino’s main operating officer, Chris Carlberg, suggested that the institution felt assured astir its prime of services to the American subdivision of FTX.

Carlberg stated:

“We decidedly basal by the FTX US work. A fewer manufacture voices person said that we should person done a amended occupation auditing interior controls, but we were ne'er engaged to audit interior controls.”

He explained that those auditing practices are required for audits of nationalist companies and are not required for audits of backstage companies similar FTX.US. He said that the institution carried retired the level of investigation required by standards and that Armanino and its employees “feel bully astir the enactment we did successful that area.”

Carlberg besides distanced Armanino from FTX’s planetary business, noting that the institution “never had a lawsuit relationship” with it oregon related companies.

He besides confirmed that Armanino would halt providing fiscal connection audits and proof-of-reserve reports to crypto companies. That quality was first revealed by unverified sources successful a Forbes interrogation published past week.

However, Carlberg suggested that the company’s determination to halt providing services is owed to marketplace conditions. Previously, it was believed that Armanino would driblet crypto clients owed to the anticipation of reputational risk. Armanino, on with Prager Metis, is facing a people enactment suit from FTX customers.

Armanino is 1 of 3 auditing companies expected to halt providing services to crypto companies on with Mazars and BDO, based connected reports astir Dec. 17.

The station Armanino defends its past FTX.US audits appeared archetypal connected CryptoSlate.