Crypto Mining Riot Platforms Appoints Deloitte as Independent Auditor

According to Blockworks reports, the encryption mining company Riot Platforms announced the termination of the contract with the accounting firm Marcum and appointed Deloitte Accounting Firm to be responsible for the audit work. Marcum has audited Riot Platforms' consolidated financial statements for the fiscal years 2018 through 2022. Deloitte will act as the firm's independent CPA firm in 2023. According to a regulatory filing, the change "was not due to any differences in accounting principles or practices, financial statement disclosures or audit scope or procedures." Shareholders will vote on the change on June 27, the filing added. A Bloomberg survey of 24 crypto companies last week found that 46 percent of them had full financial audits done by the “big four” accounting firms. Of these, three companies used Marcum's audit services. Coinbase, Circle and Ripple use Deloitte's annual review service.