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Enhanced Transparency and Fair Value Measurement on the Horizon for Crypto Asset Accounting
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Digital Assets & Blockchain
Finding clarity in the high-speed digital assets landscape.
Focus on innovation and keep up with disruptive market trends with experienced industry professionals by your side.
Some of the nation’s leading companies are incorporating blockchain technologies into their business processes. Blockchain’s disruptive technology has many practical uses. It can improve supply chain tracking and tracing, accelerate payments, and streamline compliance and auditing. But taking the leap into blockchain’s new way of managing data can cause real apprehension. With good reason.
Companies operating in the blockchain ecosystem rely on Marcum for practical guidance. Marcum’s experienced team recognizes blockchain’s potential benefits and, more importantly, the security and internal controls that need to be in place.
Partner with leading digital assets professionals
Marcum’s Digital Assets and Blockchain Practice has built a reputation as premier advisor in the industry. Our highly knowledgeable team will help ensure that you’re prepared to react swiftly and effectively to define and unlock the potential value of digital holdings.
In-depth industry experience
Working closely with a spectrum of digital asset players – from investment funds, lenders, exchanges, and broker/dealers to mining and staking companies, token issuers and custodians – we stay on top of industry developments so our services remain on the cutting edge. Our dedicated professionals focus on clients in the digital asset industry, understand the underlying technology and perform quality audits designed to maximize accuracy and efficiency.
Cutting-edge audit tools
With our proprietary industry-specific audit tools, we independently query blockchains to extract timely and accurate data during the engagement.
Specialized knowledge
Marcum’s professionals bring extensive experience with a variety of digital assets and distributed ledger technologies, including blockchain consensus mechanisms (mining, staking), web3 infrastructure (layer 1 blockchains, layer 2 rollups, cross-chain bridges, wallets), decentralizedfinance (“DeFi”) applications (“dApps”), non-funguble tokens (“NFTs”), and on-chain governance and Decentralized Autonomous Organizations (“DAO”).
Digital assets and international tax consulting
We understand the unique complexities impacting crypto tax investments across global jurisdictions and can help maximize your tax strategy while avoiding
penalties.
Specialized services for your digital assets accounting needs
Marcum supports domestic and international investors and organizations of all sizes and structures. We offer a full suite of assurance, tax and consulting services, including:
Audit and Assurance
- Performing financial statement audits for private companies
- Conducting private to public transitions and public company audits
- Performing Sarbanes Oxley 404b internal control audits
Tax Structuring, Compliance, and Consulting
- Providing tax guidance for the development and execution of token issuances
- Analyzing entity domestic and offshore structure to optimize tax benefits
- Reviewing acceptance of digital assets for donors and contributions
- Analyzing gain and loss strategies and reconciliation
- Determining appropriate tax positions to mitigate exposure
- Forming and structuring funds
Financial Accounting and Advisory
- Appraising and valuing crypto holdings
- Preparing for IPOs and other exit strategies
- Restructuring
- Establishing reporting practices in alignment with fresh start accounting principles
Risk and Digital Advisory
- Providing scalable risk and control gap analyses, diagnostic reviews, and full RCM assessments against industry best practices and frameworks, including: CCSS, FFIEC, NIST, ISO, CIS, COSO, NYDSF Title 23 NYCRR and similar regulations
- Conducting SOC 1 and SOC 2 Reporting and/or “Readiness” Assessments
- Performing security audits to identify vulnerabilities and security gaps
- Conducting penetration tests and vulnerability assessments
- Conducting periodic phishing simulations and training to increase user awareness of cyber threats
- Complying with the Sarbanes Oxley statute
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