Warren, Wyden Push Regulator for Crypto Audit Crackdown (1)

Two high-ranking Democrats on the Senate Finance Committee accused the US audit regulator Wednesday of ignoring the work of large accounting firms in “whitewashing ‘audit’ results for crypto firms,” jeopardizing investor confidence in public company audits.

Senators Ron Wyden, who chairs the finance committee, and Elizabeth Warren urged the Public Company Accounting Oversight Board to ensure it was doing enough to hold audit firms registered with the board accountable for their work with crypto clients, whether they are private businesses or listed stocks, according to a letter they sent to board Chair Erica Williams.

“Ongoing reports of scandalous accounting practices ...