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Products and services
Turkey to unveil tax incentives to boost foreign currency inflows
Pakistan eyes 2nd tranche as policy-level talks with IMF start
The Fund briefed on progress on achieving Rs9.4 trillion tax collection targets
Joint statement of support for IFRS Foundation consultation on sustainability reporting
Statement from UK government and UK financial regulators welcoming the publication of the IFRS Found
Chancellor must take urgent action on local government finances, ICAEW says
Cyprus and Ireland Central Banks Governors vow to enhance cooperation
India's direct tax-to-GDP ratio rising on better data from demonetisation and GST
China's new BRI financing plans to help partner countries improve infrastructure, people's livelihood: experts
Trust in ICAEW Chartered Accountants up, new research finds
Timor-Leste to become full WTO member in February 2024
Laos raises excise tax to limit outflow of foreign currency
Lao President Thongloun Sisoulith has issued a decree that imposes higher excise tax on certain goods, aimed at curbing the import of luxury items in a bid to reduce the outflow of foreign currency.
FRC sets out reporting expectations amidst ongoing economic uncertainty
Jiangsu fully leverages advantages in location, resources in Belt and Road construction: official
Trust, Corruption and Sustainable Development Are Interconnected Issues in Public's Attitude Towards Tax
Moody's enters Vietnam rating market with joint venture
Tinubu Seeks Reform Of International Finance Institutions To Benefit Africa
UKEB Draft Comment Letter: IFRS 15 and Draft Supplier Finance Arrangements
This week in tax: African leaders call for global carbon tax
Govt ‘reforming tax system via digitalisation’
PM Kakar says economic uplift not possible unless tax collection increased
News I Financial Reporting Council
The Financial Reporting Council (FRC) has today announced a record number of successful signatories
BRICS and the Evolution of Global Finance: Why Blockchain Payment Systems Are the Way Forward Part 2
At the heart of blockchain, decentralization ensures the system’s security and resilience.
BRICS and the Evolution of Global Finance: Why Blockchain Payment Systems Are the Way Forward Part 1
Originating from the acronym coined by Goldman Sachs in 2001, BRICS signifies the emerging economies poised to rival the G7 nations.
S. Korea's tax revenue falls in H1
Tax revenue came to 178.5 trillion won in the January-June period.
Belt and Road Initiative enhances partnership between China, Brunei
Joint response to invitation to comment on ISSB’s Exposure Draft Methodology for Enhancing the International Applicability of the SASB Standards and SASB Standards Taxonomy Updates
The AASB and SSBJ have both publicly stated support for the ongoing work of the International Sustainability Standards Board (ISSB).
FASB SEEKS PUBLIC COMMENT ON PROPOSAL TO IMPROVE DISCLOSURES AROUND INCOME STATEMENT EXPENSES
The amendments in the proposed ASU do not change or remove existing expense disclosure requirements and do not change requirements for presentation of expenses on the face of the income statement.
Morocco set for private investment boom
Since the early 2000s, Morocco has launched a series of major programmes focusing on the development of infrastructure projects.
Broadening the Accountancy Profession's Reach in the Public Sector
Highlighting how a focus on the public sector supports its mandate to contribute to South Africa's economic and social advancement.
Regulations Pressure Turkish Banks' 1Q23 Margins and Profitability
The covered banks' operating profit/average risk-weighted assets (RWAs) ratio weakened to 4.2% in 1Q23 (4Q22: 8.8%).
Big changes for sharing financial data in South Africa
Providing complaints and dispute resolution mechanisms
China Belt and Road Initiative (BRI) Investment Report 2022
BRI finance and investments is steady in 2022 at USD67.8 billion, compared to USD68.7 billion in 2021
Report: Domestic demand, BRI spur more opportunities for infrastructure developers
Chinese contractors stand out from their global peers for their professional solutions and mature operating models
WTO issues new edition of World Tariff Profiles
The WTO issued the 2023 edition of “World Tariff Profiles”, an annual publication providing comprehensive information on tariffs imposed on imports by over 170 countries and customs territories.
China-Laos Railway sets good example for low-carbon collaboration under BRI
The railway has established a benchmark for green and sustainable development of infrastructure projects with the Association of Southeast Asian Nations (ASEAN) economies.
Morocco: a model in fiscal transparency
According to the US State Department, 69 countries did not meet the minimum criteria.
The South Korean K-Chips Act and Its Impact on International Companies and Investors
For investors in enterprises in the Korean semiconductor industry and other national strategic industries, a new tax bill has been passed.
BIR simplifies VAT refunds: Philippines
The measure will be effective starting July 1
MAS Launches Consultation on Coal Phase-Out Criteria under the Singapore-Asia Taxonomy
Among the criteria at the entity level are that the CFPP owner must commit to:no new development of CFPPs; and a transition plan which has to reach full alignment to 1.5°C by 2030.
Hong Kong-Mauritius tax treaty in force
The CDTA will bring a greater degree of certainty on tax liabilities
Indonesia tax update: acceleration of tax refunds for individual taxpayers
Endy Arya Yoga and Arip Prastyo Wibowo of GNV Consulting Services deliver a broad Indonesian tax update, with news on stamp duty procedures and an e-Tax Court.
Taxation statistics released for 2020–21
The data provides detailed and valuable insights into the Australian economy.
ITR Indirect Tax Forum 2023: Govts turning companies into ‘free’ VAT auditors
The forum heard that VAT professionals are struggling under new pressures to validate transactions and catch fraud, responsibilities that they say should lie with governments.
Saudi Arabia finally ends its tax amnesty
Saudi Arabia introduced VAT in 2018 as part of a regional effort to harmonise tax law between the Arab Gulf states.
IFRS Foundation Trustees and IFRS Foundation Monitoring Board agree updated MoU
The updates to the MoU reflect the formation of the ISSB and other innovations since the agreement of the first MoU in 2009.
Exclusive-Vietnam eyes multi-million-dollar handouts to Samsung, others to offset global tax -source
Samsung's tax rate varies by district, and ranged between 5.1 per cent and 6.2 per cent in 2019
IASB increases transparency of companies' supplier finance
The new disclosure requirements will make visible a company’s usage of supplier finance arrangements
Cambodia Has Benefited From BRI projects, but Must be More Strategic Going Forward
Cambodia's participation in the Belt and Road Initiative has strengthened relations with China and brought net benefits.
Flat tax 'unrealistic' in Italy says BoI
Due to welfare, public finance constraints says Ricotti
Momentum Builds for Corporate ESG Disclosure and Assurance, Yet Reporting Inconsistencies Linger, Study Finds
BEPS 2.0 implementation – Advances in Asia-Pacific and the China perspective
How do audit committees perceive corporate fraud risks?
IBFD Unveils New Book 'Normativity in International Tax Law' by Daniel W. Blum
Representatives of the Financial Accounting Standards Board and the Accounting Standards Board of Japan Hold Biannual Meeting
Angel tax in India: a retrograde step for foreign investment
Fitch Affirms Indonesia's Bank BTPN at 'AAA(idn)'; Outlook Stable
4 tax updates to watch out for in South Africa – including solar and medical aid
2023 Hainan Expo: Enterprises in RCEP countries grasp opportunities via Hainan free trade port policy
FRC Technology & Digital Hub
Six facts about China-EU cooperation
China's RMB becomes Brazil's second-largest international reserve currency
Hainan FTP will play key role in BRI development
More BRI products will be available on Chinese shelves amid opening-up
Big First-Time Buyer Concentrations Reflected in Higher ESG Relevance Scores for UK RMBS
March 2023 IFRS for SMEs Accounting Standard Update
Namibia to expand ties with China in South-South cooperation
Audit Committee Chair quarterly meeting invitation
Parliament launches inquiry into local government financial reporting
Cross-profession training on tackling corruption announced
BRI brings benefits to individual, regional, global development: survey respondents
Seven key takeaways from the IFRS Sustainability Symposium
Momentum Builds for Corporate ESG Disclosure and Assurance, Yet Reporting Inconsistencies Linger, Study Finds
Tax news in brief
Sci-tech cooperation key for BRI partners
Consultation on proposed amendments to Technical Actuarial Standards 400
China's New Capital Rules to Have Limited Impact on Bank Ratings
IFAC's Professional Accountants in Business Advisory Group Welcomes New Members
The accountant's role in solving business challenges
Statement on appointment of Sir Jon Thompson as Chair of HS2 from FRC Chair Sir Jan du Plessis
China 2023 Growth Forecast Revised Up to 5%
EU Finalizes ESG Reporting Rules with International Impacts
Fitch Regulatory Classification-Insurance Summary
Why Global ESG Audits Will Be 'Limited' at First: Explained
Webinar: ESG - what we've achieved so far and what's next
Meeting of the IFAC Board and Board of Directors
ICAI Past President CA. Nihar N. Jambusaria appointment as the New President of SAFA for the year 2023
UKEB publishes Call for comments on Draft Endorsement Criteria Assessment of Lease Liability in a Sale and Leaseback
FRC research on the use of artificial intelligence (AI) and machine learning (ML) in actuarial modelling in the UK
China Certified Public Accountant Industry Development Report 2021 was published
FRC finds 'instances of cheating' in accounting exams
IFAC Releases New Implementation Tool for Auditors on Identifying and Assessing Risks of Material Misstatement
Expanding Roles in Sustainability and Digital Transformation Priorities for Professional Accountants in Business and the Public Sector
LIBOR Transition: The Regulators' View
The FCA and Bank of England, in conjunction with ICAEW Financial Services Faculty, give their perspective on LIBOR Transition.
Mandatory registration of Public Interest Entity audit firms comes into force
From today, 5th December, onwards, all audit firms and responsible individuals (RIs) who undertake statutory audit work for Public Interest Entities (PIEs) must be registered by the Financial Reporting Council.
Increasing Certainty in an Uncertain World: Economic Growth in Production Sharing Activities
The Lecture on Finance and Economics for 2020-2022 International Students held.
FRC publishes what makes a good environment for auditor scepticism and challenge
The Financial Reporting Council (FRC) has today published a new report setting out examples of good practice to improve auditor scepticism and challenge.
Mrs. Olivia Kirtley and Mr. Edward Olowo-Okere Recognized with IFAC Global Leadership Award
For Outstanding Contributions to the Accountancy Profession.
IFAC Releases Additional Support
For Small Firms on the IAASB's Quality Management Standards
FRC to focus on climate-related reporting as new disclosure requirements beckon
The Financial Reporting Council (FRC) has today published its Annual Review of Corporate Reporting, which outlines the FRC’s ‘top ten’ areas where improvements to reporting are required. These include reporting on judgements and estimates, revenue and cash flow statements.
Digital Transformation & Innovation in Auditing: Insights from a Review of Academic Research
In 2021, the International Auditing and Assurance Standards Board (IAASB) asked members of the International Association for Accounting Education and Research (IAAER) to conduct a literature review examining digital transformation in the external audit setting. The review was intended to inform the IAASB’s standard-setting initiatives related to using technology in audit engagements.
G20 Call to Action 2021
IFAC calls on the G20 to focus on two key actions—where the global accountancy profession is a strongly committed partner—that will move the needle on sustainability, inclusivity, and prosperity.
Blockchain Technology: Shaping the Future of the Accountancy Profession
IBM Foodtrust, Coinbase’s USD $68 Billion Initial Public Offering on Nasdaq, Central Bank Digital Currencies, and TopShot and the non-fungible token (NFT) craze—what do they all have in common? Blockchain technology. Although it has seen fits and starts over the past decade, blockchain and the broader realm of distributed ledger technology, or DLT, are breathing new life into the financial sector, intellectual property, and sustainability. So, what does this have to do with the accountancy profession?
Development Plan for Informatization of Accounting Sector in China
Released by CICPA on April 8, 2021
Overview of the Accountancy Profession of China
Accountants are an important link of integrity chain of the market economy and played a vital role in supervising the market.