Primary engagement
E-wallet application financial audit
An independent examination of the financial evidence packed into an e-wallet or e-money service application, before it is lodged with the regulator.
Most e-wallet applications fail the first financial read-through for ordinary reasons: forecasts that do not tie to the operating model, safeguarding language that does not match the bank letters, or related-party balances that sit unexplained in the opening statement of financial position. We sit with the application file as an examiner would, and we test the numbers against the story the rest of the pack is telling.
The work is scoped to the financial sections of the application: historical accounts where they exist, opening capital, projected volumes and float, fee and breakage assumptions, customer-fund safeguarding, settlement cycles, and the cash-flow consequences of merchant payout timing. We do not rewrite the legal chapters or the technology narrative. We say whether the financial evidence is consistent, complete, and capable of being defended.
Fieldwork usually starts with a document request and a half-day walkthrough with the finance lead and the person who drafted the projections. We then sample the workings, request bank and trustee confirmations, and reconcile merchant and customer liability figures to the ledgers you actually run — or to the ledgers you plan to run, if the wallet is not yet live.
You receive a signed examination report, an exception list ranked by whether it should be fixed before lodgement, and the working papers behind every material figure we tested. Applicants use the pack in board papers and, where they choose, share extracts with counsel or the submitting advisor.