Major private gold buyer may need a Big Four audit now more than ever

But attestations are not audits. They do not examine internal controls, governance, or the valuation methodology behind complex or illiquid assets. At best, you can call an attestation a photograph of a balance sheet, but it doesn’t show how the company got there.For years, Tether relied on attestations from BDO Italia, its Italian auditing partner since 2022, which confirmed at a point in time that the assets Tether claimed to hold were, in fact, held.Tether holds roughly $17.5 billion in gold reserves , a ...