Mhalou and her team performed financial reporting services under International Financial Reporting Standards (IFRS) and U.S. GAAP for a European company engaged in a cryptocurrency exchange platform. The cryptocurrency company was contemplating an establishment and registration of two local cryptocurrency subsidiaries in the U.S. The team was engaged to convert the group’s IFRS financial statements into U.S. GAAP for inclusion on the registration. Due to significant turnover of client accounting, there were significant challenges in obtaining the proper financial records in a timely manner and in validating certain transactions and balances. The team's role expanded to support the Company in establishing account balances, preparing analysis of their crypto-asset movements and valuation, applying the appropriate accounting standards under IFRS and U.S. GAAP, and conducting technical accounting trainings.
The project and the registration of the two cryptocurrency subsidiaries were successfully completed on time.
Note: This work was performed prior to joining Stout.