Tether's former auditing firm was fined $1 million by the SEC for accounting negligence

Chain Catcher News, the SEC last week charged Tether's former auditing firm Friedman LLP with "continuous violations of federal securities laws" and a series of "improper professional conduct." In the SEC's investigation into Friedman LLP's audits of two publicly traded companies, it was found that the auditing firm falsely claimed to conduct audits in accordance with the standards of the Public Company Accounting Oversight Board.
The order released by the SEC on Friday detailed the widespread sloppy accounting practices of Friedman LLP from 2015 to 2020, including the failure to "address fraud risks" and to "exercise due professional care and professional skepticism." Friedman LLP provided auditing services for Tether from May 2017 to January 2018. (CoinDesk)