Extended story
Licensing readiness for a single-entity payment firm
A Taiwan payment company approached us ten weeks before counsel planned to submit a licensing dossier. Books were largely current, but merchant payout batches straddled month-end without a written cut-off memo, and the safeguarding reconciliation pack lived in three personal folders.
During fieldwork we sampled settlement batches, rebuilt a single as-of reconciliation, and mapped policy clauses to the evidence list counsel was assembling. Two findings were treated as blockers: missing dual-control evidence on manual float adjustments, and an incomplete related-party schedule for a founder loan.
Management cleared both items before our memorandum issued. The engagement ran six weeks — a week longer than the initial plan because the data room opened thinly. The CFO later said the blunt tone of the draft findings helped prioritise work when every team claimed urgency.