KPMG formed a strategic alliance with Cryptio to help crypto firms in the United States adhere to GAAP compliance, enhancing accounting and reporting practices.
Big Four accounting firm KPMG established a strategic alliance with Cryptio, a crypto accounting software, to help crypto firms in the United States adhere to Generally Accepted Accounting Principles (GAAP) compliance.
According to the announcement, the KPMG-Cryptio strategic alliance is aimed at establishing controls within cryptocurrency firms to better account for their crypto assets.
Brian Consolvo, principal of technology risk at KPMG, underscored the importance of streamlining digital asset accounting practices and meeting regulatory obligations in the US. He added:
