Accounting Firm Mazars Pauses Work With Crypto Clients

Global accounting firm Mazars is pausing its work with all cryptocurrency clients [Editor's note: the link may be paywalled; alternative source] worldwide, soon after it published several "proof of reserve reports" for digital-asset platforms. From a report: Earlier this month, a five-page letter from a partner at the South African affiliate of Mazars reported on the crypto exchange Binance's bitcoin assets and bitcoin liabilities. The letter wasn't an audit report, didn't address the effectiveness of the company's internal financial-reporting controls, and said Mazars did "not express an opinion or an assurance conclusion," meaning it wasn't vouching for the numbers.

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