PoR isn’t an audit

[encrypted]

Many users treat PoR as a safety certificate, but most are actually Agreed-Upon Procedures (AUPs):

Practitioner reports what was observed, no opinion on overall financial health.

Unlike audits, PoR doesn’t assure solvency or control quality.

️ Regulators, like the PCAOB, caution against over-reliance on PoR as proof an exchange can meet obligations.

[kevin1]

regulators warning against over-reliance on por… feels like common sense but crypto hype never listens