PANews reported on March 27th that, according to Tech in Asia, Tether, the issuer of the stablecoin USDT, has selected KPMG as its auditor and hired PwC to assist in improving its internal systems. This move is the clearest signal yet that Tether is moving towards a comprehensive financial statement audit, which will go beyond the current monthly proof of reserves issued by BDO Italia and comprehensively examine its assets, liabilities, controls, and reporting processes.

Previously, Tether announced that it had hired one of the Big Four accounting firms to audit its business, but did not disclose the name of the firm at the time.