Binance has successfully completed 25 audits so far in fiscal year 2023 alone, receiving unqualified opinions from all of them. Grant Thornton Singapore will provide Binance with professional, non-audit advisory services on technical accounting, financial reporting, audit preparation and tax matters.

The firm will advise Binance on its accounting policies and International Financial Reporting Standards on crypto and non-crypto transactions.

Financial Reporting Standards (IFRS) framework. It will also provide support in improving existing accounting policies and strengthening the documentation of business processes.

Kaiser NG, Binance’s Senior Vice President of Finance, said: “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.”

Kaiser NG continued his words as follows:

“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 and Sustainability at Grant Thornton, said:

“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.”