Big Four

SEC

2026-09-21 00:58:41

SEC proposal to ease audit rules could cost Big Four about $430 million in fees

The U.S. Securities and Exchange Commission is proposing to relax internal control audit requirements under the Sarbanes-Oxley Act, a move that could strip more than $400 million a year from accounting firms tied to related work. Under a proposal released by the SEC in May, listed companies with a public float below $2 billion would no longer need an auditor attestation on internal financial controls, up from the current $700 million threshold. Newly listed companies, regardless of size, would also be exempt during their first five years after going public. The SEC estimates the change would remove the attestation requirement for about 1,700 companies, or 27% of listed firms. Data from Ideagen Audit Analytics shows companies that may qualify for the exemption paid about $3.8 billion in audit fees last year, implying roughly $430 million in value for accounting firms. Ernst & Young, Deloitte, PwC and KPMG have opposed the proposal, while investor groups have also raised concerns about the five-year exemption for new issuers.

650

Tether

2026-07-24 06:05:17

Tether Hires Big Four Firm for First Full Audit of $184 Billion USDT Reserves

Tether has engaged a Big Four accounting firm for its first full independent audit, expanding beyond attestations to review reserves, liabilities, and internal systems tied to more than $184 billion in USDT.

380

PwC

2026-07-23 18:50:15

PwC Embraces Crypto After Years of Caution as U.S. Regulatory Clarity Emerges

PwC shifts its stance on digital assets, citing supportive U.S. regulation under Trump. CEO Paul Griggs credits the GENIUS Act for stablecoin rules. The firm spent 10-12 months preparing before launching compliance-driven crypto services across audit and consulting, backed by $56.9B revenue.

740

Tether

2026-07-22 06:52:13

Tether Hires Big Four Firm for First Full Audit Covering $184B USDT Reserves

Tether has engaged a Big Four accounting firm for its first full independent audit, covering $184 billion in USDT reserves across digital and traditional assets. New CFO and CEO outline transparency push.

540

Tether

2026-07-22 04:13:13

Tether Engages Big Four for First Full Audit, Ushering in New Era of Transparency

Tether has hired a Big Four accounting firm for its first full financial audit, covering USDT's $184B market cap and 550M users. The move signals a major shift toward deeper stablecoin transparency.

460

PwC

2026-07-10 02:39:13

PwC Hong Kong Accepts Bitcoin Payments, Marking Another Big Four Move Into Crypto

PwC’s Hong Kong office has accepted bitcoin as payment for consulting services, joining other Big Four firms that have already experimented with crypto-related payments and infrastructure.

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