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Search Results for: accountancy

10 results out of 270 results found for 'accountancy'.

ANTI-FRAUD SPENDING GROWING FROM LOW BASE – BUT LACK OF RISK ASSESSMENTS IMPEDES EFFORT

ANTI-FRAUD measures are expensive, and investment is growing from a low base yet surprisingly few companies keep tabs on the impact of fraud on their profit/loss margins.

Annual fraud losses are estimated to cost the UK more than GBP193 billion (USD240 billion), according to the 2016 Annual Fraud Indicator report prepared by the Centre for Counter Fraud Studies at southern England’s University of Portsmouth in partnership with data services group Experian and accountants PKF Littlejohn.…

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BREXIT MAY AID FRAUDSTERS, AS LEGAL COMPLEXITY GROWS AND ENERGY IS WASTED ON NEGOTIATING DETAILED COOPERATION - EXPERTS

WITHOUT European Union (EU) supervision, the fight against fraud, in the UK at least, will become more difficult after ‘Brexit’, European fraud experts claim.

“London is already known to be a major money laundering centre, so that can only get worse once the EU ‘strings’ have been severed,” predicted Hugh Penri-Williams, fraud consultant and vice president of the Association of Certified Fraud Examiners (ACFE) France.…

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FRAUD INVESTIGATORS OFFERED AN ARRAY OF STATISTICAL REPORTS – BUT HOW USEFUL ARE THEY?

Any professional involving in combatting fraud has an array of reports, statistics and research to choose from to help with their work. But what is useful intelligence and what is marketing froth? Fraud Intelligence has reviewed the output of publicly available fraud reports and asked some leading fraud professionals about how they use these reports.…

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ACCOUNTANCY PROFESSION UNDER THREAT FROM MACHINES, SAY SUSSKINDS

Machines are taking on more and more tasks traditionally carried out by accountants, Professor Richard Susskind OBE and his son Dr Daniel Susskind, an economics lecturer at the University of Oxford, UK, have warned. They were speaking at a ‘Digital Day’ conference in Brussels, staged on March 29, in a ‘What future for the professions?’…

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DERISKING CONTINUES, ALTHOUGH AML BODIES ARE PRESSING BANKS TO BE MORE CAUTIOUS

 

THE DE-RISKING by major banks through cancelling correspondent banking relationships (CBRs) has started to raise such alarm that anti-money laundering institutions are starting to advise against such caution.

“There has been international pressure to make banks think twice about turning down customers and not just have blanket bans  on certain jurisdictions  or certain types of institutions,” said Sarah Ouarbya,  partner in Mazars, one of the UK’s largest accountancy firms and an international  specialist in audit, tax and advisory services.…

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SOUTH AFRICA SHOULD BE MORE RESPONSIBLE WITH PUBLIC MONEY, SAYS AUDITOR GENERAL WHO DOES NOT PULL HIS PUNCHES

SOUTH African auditor-general Thembekile Kimi Makwetu has half of his seven-term left in which to solidify his preferred legacy – restoring the reputation of his country’s public sector institutions as trusted bodies that accept responsibilities and whose leaders understand and fulfill their duties.…

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EGYPT NEEDS QUALITY ACCOUNTANTS AS COUNTRY’S ECONOMY WRESTLES WITH STRUCTURAL CHANGE

The Egyptian uprising of January 2011, has – regrettably – put the country’s accountancy sector on the back-foot, says Hazem Hassan, chairman of the Egyptian Society of Accountants and Auditors (ESAA), part of the International Federation of Accountants (IFAC), and chairman of KPMG in Egypt.…

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TTIP – IS TRANS-ATLANTIC TRADE DEAL DOOMED?

WITH President Donald Trump having consigned the Trans-Pacific Partnership (TPP) trade deal to the dustbin of history, focus is now switching to his intentions over the Transatlantic Trade & Investment Partnership (TTIP) that has been under negotiation since 2013.

If completed, this could be one of the biggest trade deals ever signed – uniting the economies of the USA and the European Union (EU), which will still be huge, even if Britain makes good on its 2016 referendum result to quit the bloc.…

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MALAYSIA AEROTROPOLIS MOVES FORWARD UNDERPINNED BY STRATEGIC AND DETAILED BLUEPRINT

A long-held ambition by Malaysia Airports Holdings Berhad (MAHB) to create an aerotropolis, or airport city, anchored around Kuala Lumpur International Airport (KLIA) is taking key steps forward with a newly finalised master plan and a number of strategic partnerships.

The project, called KLIA Aeropolis, was announced in May (2016).…

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CENTRAL BANK THEFT – CASINO REPERCUSSIONS: THE PHILIPPINES – STORY UPDATE

Central Bank theft – casino repercussions: the Philippines

The theft in February of $101m from the Bangladesh Bank account at the Federal Reserve Bank New York in an audacious hack of SWIFT codes saw funds flow to casino accounts at Rizal Commercial Banking Corporation in the Philippines.

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