Armanino’s Former Digital Asset Member Establishes The Network Firm

03/01/2023 14:26 • AI & Tech Insights • 84 views

On March 1, the former digital asset business member of Armano, an accounting firm, established the new company The Network Firm, which is engaged in providing audit, authentication and related work for customers of cryptocurrency companies. People familiar with the matter said that Armanino’s past cryptocurrency customers include the stable currency project TrueUSD, the cryptocurrency exchange Kraken, the digital asset lending platform Nexo and the investment company CoinShares.

The former digital asset business member of Armano, an accounting firm, founded The Network Firm

Interpretation of the news:

The Network Firm, a newly developed company, has been established by a former digital asset business member of accounting firm Armanino, which is focused solely on providing audit, authentication and other relevant services for customers of cryptocurrency companies. According to sources familiar with the matter, Armanino’s past customers for cryptocurrency include a stable currency project, TrueUSD, the cryptocurrency exchange Kraken, the digital asset lending platform Nexo and the investment company CoinShares.

The establishment of The Network Firm is a significant indication of the growing demand for professional auditors and related services in the cryptocurrency industry. With the proliferation of cryptocurrencies and blockchain technologies, there is an urgent need for independent verification of financial statements, anti-money laundering processes, and control procedures. The Network Firm is well-positioned to provide such services to ensure investment firms’ compliance with regulatory guidelines, financial standards, and ethical principles.

Furthermore, the launching of The Network Firm also signals the increasing maturation of the cryptocurrency sector. The digital assets industry has evolved from a niche area of interest to a mainstream field that requires comprehensive accounting, auditing, and attestation services. The Network Firm recognizes that there are different degrees of risks and challenges posed by cryptocurrencies, which require customized solutions that focus on identifying, investigating, and mitigating these potential threats.

Although the cryptocurrency field is still relatively new, The Network Firm understands the importance of staying ahead of the curve. As a result, it has developed a proactive approach to ensure that it remains up-to-date with the latest trends, risks, opportunities, and industry developments. The Network Firm recognizes that the nature of cryptocurrencies, such as their decentralized nature, anonymity, and volatility, creates unique challenges that require a high level of expertise and understanding. Therefore, it has assembled a team of professionals with extensive experience in auditing and authentication, as well as a deep understanding of the cryptocurrency industry’s unique characteristics.

In conclusion, The Network Firm, established by a former digital asset business member of Armanino, is a significant development for the cryptocurrency industry. The new company recognizes the evolving risks and opportunities of the field and has positioned itself to provide comprehensive and customized audit and authentication services to ensure compliance with regulatory guidelines and financial standards. As the cryptocurrency industry continues to mature, The Network Firm is poised to play a significant role in shaping its future.

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