As the crypto world continues to be roiled by the fallout from the recent collapse of FTX – and on the heels of IPA 100 firm Mazars halting its work in the space – San Ramon, Calif.-based IPA 100 firm Armanino LLP (FY21 net revenue of $444.1 million) is ceasing its crypto audit practice after eight years, according to a recent report from Forbes.
Armanino was recently named in a class-action lawsuit in connection with audit work related to FTX, and Forbes notes that the firm may be under pressure from its non-crypto clients, concerned of the potential reputational risk associated with their audits. Armanino did not respond to the publication’s requests for comment.
