Erklæring som beslutningsgrundlag i peer-to-peer låneformidling

Enes Jakupovic

Student thesis: Master thesis

Abstract

The purpose of this thesis is to analyse how an auditor (practitioner) may provide an assurance report in relation to a peer-to-peer (p2p) lending company’s loan intermediation process in order to contribute to the decision making of the p2p lending companys’ customers. Likewise, the thesis highlighted responsibilities and expectations that the management in the p2p lending company should adhere to in the event of such an assurance engagement. A prerequisite for assuming the assurance engagement is that the practitioner gets an overall overview of the crowdfunding, which by many is considered as an alternative financial industry. P2p lending companies operate within the loan-based crowdfunding by provision of intermediation services between lenders and borrowers. As a new and alternative way for investing and funding, the p2p lending companies need to gain their customers’ confidence, which can be difficult without a third party, who independently may confirm the credibility of services that the p2p lending company is providing. As the risks of the p2p lending companys’ customers have a direct effect on their decision making, as to whether or not to lend (invest) or borrow through the p2p lending company, the management of the p2p lending company may have an interest in showing that the company's properly addresses the customers' risks thorough its loan intermediation process. As a result, an independent practitioner may be engaged to provide an assurance report to the customers. If the practitioner engaged to conduct such engagement, he/she needs to observe the International Framework for Assurance Engagements to determine the type of the assurance engagement and which standard should be used. The thesis has concluded that the most relevant standard ISAE 3000 as it aimed to a broad range of assurance engagements. The p2p lending company is subject to the Danish Law on Payment Services, and as such it must have written procedures for significant business areas. Therefore, the practitioner may reasonably expect that the p2p lending company’s management is able to provide a subject matter in a form of description of the intermediation process. Also, the management should provide written assertions that contain suitable criteria against which the description is measured and valued. The description of the intermediation process should contain procedures and internal controls that the practitioner would test in order to determine, whether or not internal controls are operating effectively by in order to address the risks of the p2p lending companys’ customers. As a final stage of the engagement, the practitioner would provide an ISAE 3000 report, which can be used by the p2p lending companys’ customers, when they need to make a decision as to whether or not to lend or borrow money through the p2p lending Company.

EducationsMSc in Auditing, (Graduate Programme) Final Thesis
LanguageDanish
Publication date2015
Number of pages88