Opening Remarks for Roundtable on Crypto Assets

Remarks as prepared for delivery 

Good morning, everyone. For those I have not yet had the chance to meet, I am Mark Calabria; a Board Member of the PCAOB. I joined the PCAOB just a few months ago, and I appreciate the opportunity to be here with you today.

Before beginning our discussion, I want to inform those in attendance that while I am here today in my official capacity as a Board Member of the PCAOB, the views I express are my own and do not necessarily reflect the views of the PCAOB, other PCAOB Board Members, or PCAOB staff.  

The digital assets industry is evolving at an extraordinary pace. That rapid evolution presents both tremendous opportunities and real challenges, particularly for auditors and the companies they audit. I am excited to participate in this roundtable discussion, and, most importantly, to listen. I want to hear your perspectives on the practical issues auditors and issuers are encountering and on how the PCAOB might play a constructive role in supporting high-quality audits in this emerging space.

Across the regulatory landscape, there has been increasing recognition that innovation flourishes best when there is clarity and engagement rather than uncertainty. Providing clearer rules of the road so that innovation can take place here in the United States while maintaining investor protection and market integrity is a perspective that resonates with me.  

While the role carved out for the PCAOB in SOX is distinct, our mission of protecting investors, I believe, depends on understanding how new technologies affect audit risks, audit evidence, and audit execution.

I am particularly encouraged to see such a distinguished group of CFOs gathered here today. Your insights into how these issues are playing out in practice are invaluable, and I look forward to learning about your experiences.