Cryptocurrency exchange Binance announced today (4th) that it has appointed a leading business and professional services company and accounting firm - "Grant Thornton Singapore (called CP in Taiwan and Grant Thornton in Singapore)" to provide global accounting and Tax advisory services to prepare its global business for future audits.

In the fiscal year 2023 alone, Binance Entities completed 25 audits and received an “Unqualified Opinion.”

Grant Thornton Singapore will provide professional non-audit and non-assurance services, advising Binance on technical accounting, financial reporting, audit preparation and tax matters. In particular, the firm will provide advisory services on accounting policies under International Financial Reporting Standards (IFRS), cryptocurrency and non-cryptocurrency related transactions. In addition, Grant Thornton Singapore will also assist in improving the completeness of existing accounting policies and business transaction documents.

Kaiser NG, Senior Vice President of Finance at Binance, commented: “Partnering with Grant Thornton Singapore is an important step in building trust in our accounting processes and greatly improves our preparedness for future audits.”

Over the past few years, as Binance has matured and developed into a financial institution, it has made significant adjustments to its corporate governance and business structure that are more in line with traditional financial enterprises. We expect these changes will increase confidence and help Binance’s operations become more transparent and easier to understand by regulators around the world as we continue to grow.

Chetan Hans, Head of Financial Services, ESG and Sustainability at Grant Thornton Singapore, commented: “We are pleased to work with Binance to enhance their accounting policies. As advisors, we will assist Binance in aligning their accounting policies with IFRS. standards, and we look forward to supporting Binance management in achieving this goal.”

(The above content is provided by Binance)

"Binance appoints "Grant Thornton Singapore" as global accounting and tax advisor" This article was first published on "Blocker".