Please ensure Javascript is enabled for purposes of website accessibility
December 8, 2022

Soooo KPMG Canada Did a Thing Yesterday

If a Big 4 firm adding an undisclosed amount of bitcoin and ethereum to its corporate balance sheet interests you, then you’re in luck because that’s what KPMG Canada did, according to the approximately 1 million articles about it on the interwebs today.

We’ll help you mine (see what I did there) through all the clutter by presenting links to some of the articles about the big KPMG news. But we’ll start with this tweet from KPMG of the Canadian variety:

Crypto is volatile, but KPMG Canada just added bitcoin and ether to its balance sheet. Here’s why [Marketwatch] “We believe in the long term value of crypto assets,” Kunal Bhasin, blockchain co-lead at KPMG in Canada, said. “We’ve been advising a lot of our clients in terms of how they should be thinking about it. And this is just us putting our skin in the game.”

KPMG Canada Adds Bitcoin, Ethereum to Corporate Balance Sheet [Bloomberg] “[W]e’re confident we can guide clients and prospective clients through the process of cryptoasset treasury allocation,” KPMG said in the email. “Our investment allows us to share our journey, our experiences, our challenges with them so that we can help them navigate the cryptoasset world.”

KPMG Canada Adds Crypto to Its Balance Sheet [CoinDesk] In a press release, Kareem Sadek, advisory partner of cyprotassets and blockchain services at KPMG Canada, noted that “we’ve invested in a strong cryptoassets practice and we will continue to enhance and build on our capabilities across decentralized finance (DeFi), non-fungible tokens (NFTs) and the metaverse, to name a few.”

KPMG in Canada Adds Bitcoin and Ethereum to Its Corporate Treasury [Coinspeaker] KPMG Canada acquired the digital assets through Gemini Trust Company’s execution and custody services. Before approving the treasury allocation, the Toronto-based firm formed a governance committee to review the regulatory, reputational, and custodial risks. The committee included stakeholders from finance, risk management, advisory, audit, and tax. Furthermore, KPMG specialists assessed the tax and accounting implications of the digital currency transaction.

Bitcoin leads crypto market bounce back as major firms Tesla and KPMG confirm holding [Express] Bitcoin has risen over 17 percent in the last five days to break back past the key $40k threshold. The digital coin now stands at £32,210 ($43,544). Ethereum meanwhile, which remains the second biggest cryptocurrency, has seen its price recover back past $3k to reach £2,242 ($3,075). Both currencies have benefited from a number of companies revealing their investments recently in a growing sign of digital assets becoming more mainstream.

And then there was this funny tweet about it earlier today (h/t @TheBig4Tweets):

So which firm got kicked out of the Big 4? EY? Yeah, probably EY.

Latest Accounting Jobs--Apply Now:

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Related articles

Apparently Interns Are Flocking to PwC to Learn More About … HR

Getting an internship at PwC is a pretty big deal for college students looking to pursue a career in accounting or consulting. But in human resources? Apparently so, according to the latest ranking of the best HR internships for 2023 by Vault and Firsthand. Only five companies’ internship programs made the list for 2023. Coming […]

If There Was a PCAOB In the Metaverse, It Would Probably Find a Bunch of Errors In Prager Metis’s Audits Too

In an article for CoinDesk, Francine McKenna took a crack at why the FTX debacle happened, and like she always does when there’s really bad accounting at a company going through a financial crisis, who are/were the auditors: It’s not clear why FTX commissioned two different audit firms to audit its 2020 and 2021 financial […]