Yet another U.S. regulator has weighed in on the use of the blockchain. The Public Company Accounting Oversight Board (PCAOB) is a nonprofit corporation established by the U.S. Congress to oversee the audits of public companies in order to protect investors and the public interest by promoting informative, accurate and independent audit reports. The PCAOB also oversees the audits of brokers and dealers, including compliance reports filed pursuant to U.S. federal securities laws, to promote investor protection.
Our colleague Robert A. Schwinger, a partner in the Norton Rose Fulbright New York Office, has written a legal update, available here, that discusses a recent speech by a PCAOB board member on her views on how auditing procedures and financial reporting will need to address the challenges of blockchain and other disruptive technologies.
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