The IIA Shares New Legislative Proposal with Congress to Strengthen Corporate Governance of Cryptocurrency Exchanges and Protect Investors
LAKE MARY, Fla., May 4, 2023 /PRNewswire/ -- The Institute of Internal Auditors (IIA) – the internal audit profession's leader in standards, certifications, education, research, and technical guidance worldwide – today shared a legislative proposal with Congress designed to promote stronger corporate governance, greater transparency and accountability, and enhanced investor protections at cryptocurrency exchanges operating in the United States.
- LAKE MARY, Fla., May 4, 2023 /PRNewswire/ -- The Institute of Internal Auditors (IIA) – the internal audit profession's leader in standards, certifications, education, research, and technical guidance worldwide – today shared a legislative proposal with Congress designed to promote stronger corporate governance, greater transparency and accountability, and enhanced investor protections at cryptocurrency exchanges operating in the United States.
- The proposed legislation comes on the heels of an IIA letter calling on Congress to strengthen corporate governance of cryptocurrency exchanges following the collapse of FTX and subsequent outreach by the organization to help shape their policy recommendations.
- "The IIA conducted numerous meetings with congressional staff and external stakeholders to determine the appropriate role that internal audit could serve in potential policy solutions that Congress might consider regarding the lack of sufficient investor protections and corporate governance safeguards at cryptocurrency exchanges," Pugliese writes.
- For consideration and inclusion in any future policy solutions, The IIA included specific legislative language for each of the four recommendations, as well as the rationale for the proposals.