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DUBAI, UAE, Sept. 4, 2024 /PRNewswire/ -- Binance, the world's leading blockchain ecosystem and cryptocurrency infrastructure provider, today announces that it has appointed Grant Thornton Singapore, a leading business and professional services firm, to provide global accounting and tax advisory services as it prepares for future audits of its global businesses.
For the 2023 financial year alone, Binance entities have completed 25 audits thus far with an unqualified (clean) opinion.
Grant Thornton Singapore will provide professional non-audit and non-assurance services in advising Binance on technical accounting, financial reporting, audit preparedness, and tax matters. In particular, the firm will advise Binance on accounting policies, cryptocurrency and non-crypto related transactions in accordance with the International Financial Reporting Standards (IFRS). It will also provide assistance in enhancing existing accounting policies and documentation of business transactions.
Kaiser NG, SVP, Finance at Binance commented: "Collaboration with Grant Thornton is an important step in building trust in our accounting processes and giving us a huge boost in preparing for future audits."
"Over the last few years, as Binance continues to mature and evolve as a financial institution, it has made significant changes to its governance and business structures that are more in line with traditional financial businesses. We expect these changes to provide confidence and help make Binance's business more transparent and easier for global regulators to understand as we continue to grow."
Chetan Hans, Head of CFO Services, ESG & Sustainability at Grant Thornton, remarked: "We are excited to work with Binance to enhance their accounting policies. As advisors, we will be helping Binance in their commitment to aligning its accounting policies with IFRS standards, and we are eager to support Binance's management in achieving this goal.' "
About Binance
Binance is a leading global blockchain ecosystem behind the world's largest cryptocurrency exchange by trading volume and registered users. Binance is trusted by more than 200 million people in 100+ countries for its industry-leading security, transparency, trading engine speed, protections for investors, and unmatched portfolio of digital asset products and offerings from trading and finance to education, research, social good, payments, institutional services, and Web3 features. Binance is devoted to building an inclusive crypto ecosystem to increase the freedom of money and financial access for people around the world with crypto as the fundamental means. For more information, visit: https://www.binance.com