Binance is put to the test! Appointment of CP United Certified Public Accountants as global accounting and tax advisor: unqualified opinion

Exchange Binance announced today that it has appointed Grant Thornton Singapore, a leading business and professional services firm, to provide global accounting and tax advisory services in preparation for future audits of its global operations.

In the fiscal year 2023 alone, Binance Entities has completed 25 audits so far and received unqualified opinions. (Note: usually refers to no major financial shortcomings)

CP 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, CP 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: "The cooperation with CP United Accountants 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 continued to mature and develop as a financial institution, it has made significant changes to its corporate governance and business structure that are more consistent with traditional financial enterprises. We expect these changes to increase confidence, Helping Binance’s business become more transparent and understandable to regulatory agencies around the world as we continue to grow.”

Chetan Hans, Head of CFO Services, ESG and Sustainability at CP, commented: “We are pleased to work with Binance to improve their accounting policies. As consultants, we will assist Binance in aligning their accounting policies with IFRS standards. , and we also look forward to supporting Binance management in achieving this goal.”

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