#mazars

The post Kraken parent firm Payward pursues legal action after $22M Mazars ‘vindication’ appeared on BitcoinEthereumNews.com. Payward, the parent company of crypto exchange Kraken, has asked the Delaware Court of Chancery to enter final judgment against Mazars USA, moving to collect a $22 million arbitration award it won against the accounting firm that quit its audit in late 2023. A confidential arbitration, decided by a retired judge, produced the award. Kraken now asks the court to make that award enforceable. The dispute began in December 2023 when Mazars audited Kraken’s financial statements for three years and signed two clean opinions. The third audit, covering 2022, was days from completion when Mazars backed out. Mazars explicitly stated, in writing, that it had no disagreement with Kraken’s management, no doubts about the company’s integrity, and had found no fraud. Mazars tied its exit to legal risk, pointing to an SEC enforcement action filed against Kraken weeks before, pr

The crypto exchange's parent company says Mazars' withdrawal from its 2022 audit caused millions in damages and tied the dispute to Operation Chokepoint 2.0.

The arbitration outcome may stabilize crypto auditing by deterring auditors from abandoning clients, enhancing trust and regulatory compliance. The post Payward wins $22M arbitration against auditor Mazars over audit withdrawal appeared first on Crypto Briefing.