Crowfunding is used as a platform to fund new business enterprises and is also a good platform to gather funds for non-profit projects. With the advent of alternative funding issues pertaining to financial reporting and assurance have become issues that are relevant to investor relations of the new forms of funding. Traditional funding has been long subjected to various legislatures that require the unit to comply with the various financial reporting requirements of the various regulators in the country. There is a need for the regulation of crowdfunding and the various forms of alternative funding for the protection of the backers of such schemes. The current legislation that is related to crowdfunding and alternative funding was reviewed and matched against current requirements of financial reporting and assurance of traditional forms of business such as listed companies. It was found that ownership rules, financial reporting regulations and governance are minimal and there is a need for tighter regulations to govern this form of funding here in Malaysia and internationally.
Crowdfunding: Issues pertaining to financial reporting and assurance in Malaysia
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Crowdfunding_Financial
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