CoinSpark Selects EY for External Audit Assurance Services
https://coinspark.io/coinspark-selects-ey-for-external-audit-assurance-services/CoinSpark is pleased to announce that we have selected EY to provide external audit services for our token holders. Because SPARK tokens will pay a quarterly dividend to our token holders, we felt it was necessary to provide world-class external assurance services to verify our accounting and subsequent dividend payments. EY will perform an external audit (also known as Assurance Services) of the CoinSpark financials twice per year to ensure that our financials are in accordance with FASB (Financial Accounting Standards Board) IASB (International Accounting Standards Board) and U.S. GAAP (United States Generally Accepted Accounting Principles). The result of the audits will be made available to token holders, and we will provide more guidance as necessary.
ABOUT EY: EY (formerly Ernst & Young) is a multinational professional services firm headquartered in London, England. EY is one of the largest professional services firms in the world and is one of the “Big Four” accounting firms. EY operates as a network of member firms which are separate legal entities in individual countries. It has 231,000 employees in over 700 offices around 150 countries in the world. It provides assurance (including financial audit), tax, consulting and advisory services to companies. The firm dates back to 1849 with the founding of Harding & Pullein in England. The current firm was formed by a merger of Ernst & Whinney and Arthur Young & Co. in 1989. It was known as Ernst & Young until 2013, when it underwent a rebranding to EY. The acronym “EY” was already an informal name for the firm prior to its official adoption. In 2017, Fortune magazine ranked EY 29th on the 100 Best Companies to Work For list. In 2016, EY was the 11th largest privately owned organization in the United States.