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They are by definition lower-tier, as they don't have the resources to run an audit for a firm that purportedly maintains billions in reserves. A contract of th
by rchaud 4y ago
They are by definition lower-tier, as they don't have the resources to run an audit for a firm that purportedly maintains billions in reserves. A contract of that size wouldn't end up at a regional arm in South Africa anyway.
Big 4 auditors aren't exactly cheap, but there is a reason why they audit all the major firms. Mazar's biggest customer appears to be the Trump Organization.
- jacquesm 4y ago> as they don't have the resources to run an audit for a firm that purportedly maintains billions in reserves I don't think the resources are the real problem. The real problem is that Mazars has already been cautioned and they know full well that if Binance goes under their reputation is toast if they keep underwriting them.
- wjnc 4y agoAuditing a firm is not an act of charity. It’s a contract. Binance has either asked zero accountants to audit their billions in reserves, or zero have taken the job. Mazars international probably got scared and leaned on the partner. The auditing of a firm this size is usually not a very big deal and nowhere near the capacity of a partner with all the roles below.