iGaming and online-platform audits become difficult when commercial systems, payment providers and accounting records do not reconcile. The best time to organise the audit trail is before year-end.
Map the complete revenue flow
Document how a player or customer enters the platform, how consideration is received, which entity is the contractual principal, how platform credits are created, how prizes or withdrawals are settled and how fees, bonuses, chargebacks and affiliates are recorded.
Core audit evidence
- Platform transaction exports tied to the general ledger;
- payment processor, bank and wallet reconciliations;
- player liability or rolling-balance reconciliations;
- terms and conditions for each product and jurisdiction;
- affiliate and revenue-share calculations;
- licence agreements, IP agreements and intercompany invoices;
- year-end wallet and token holdings; and
- evidence supporting jackpots, bonuses, refunds and chargebacks.
Principal versus agent
Revenue presentation depends on whether the company controls the service before it is transferred or merely arranges for another party to provide it. Contract wording, platform control, pricing, settlement risk and customer responsibility all matter.
Crypto settlement
Wallet movements should be reconciled transaction by transaction or through a controlled data process. Internal wallet transfers must be identified so that they are not recorded as revenue or expenditure.
Group and IP structures
Where a Cyprus company owns or develops platform IP, the audit file should align with the legal agreements, transfer-pricing policy, IP Box records, development expenditure and actual operational substance.
Pre-year-end review
A focused readiness review can identify missing data, inconsistent contracts and unreconciled balances early enough for management to correct them before the statutory reporting deadline.
Prepared by G. Adamides Audit Ltd. This article is general information, not advice for a specific fact pattern.