top of page
  • Writer's pictureThomas Tsang

Completeness of FX gain in money changer or payment service

In the money changing and payment services provider, the completeness in FX gain is always a challenge to auditor.

We have to rely on corroborative evidence such as statements from agents for remittance and reasonableness test on FX gain.

Also, the MAS reporting is limited assurance work.

6 views0 comments

Recent Posts

See All

Under US GAAP, the carrying amount of the assets is compared to the undiscounted future cash flow of the assets generated. If the amount of undiscounted cash flow is highr than carrying amount, no im

When apply discount on lack of marketability (DLOM) and lack of control (DLOC) on enterprise value (EV), it is a multiple of EV x (1-DLOM) x (1-DLOC). But apply the discount on Equity value would lowe

In accordance with SFRS109, investment in equity instruments must be subsequently measured at fair value. In limited circumstances, cost represents the best estimate when recent information not avail

bottom of page