EXCLUSIVE: The Network Firm is comprised of the former digital-asset accounting team at Armanino, which was prompted by last year’s FTX collapse to stop doing audits and asset attestations for crypto companies liqquidity reports
, says that even firms the size of Armanino’s are seen in the accounting industry as a significant step down from the “Big Four” of Deloitte, PwC, Ernst & Young and KPMG.
A key innovation of the Armanino digital-asset team, the TrustExplorer tool designed to provide real-time data on project reserves to blockchain users, has been ported over to The Network Firm, people with knowledge of the matter said., designed to “close the visibility gap between on-chain liabilities and off-chain assets, all with industry-standard attest reporting, and at unmatched frequency.”
Kraken, another client, was “understandably disappointed in Armanino’s decision to end their crypto practice” but remains “firmly committed to undergoing proof-of-reserves audits,” according to a press representative.
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