Search Results for: accountancy

AML/CFT experts continue to assess the increasing potential of artificial intelligence (AI) and machine learning (ML) to scrutinise the mass of data screened by AML obliged organisations, such as banks, financial institutions and casinos, boosting effectiveness – a key goal of FATF.   …

Accountants in the European Union (EU) are considering how to manage a more intrusive and proactive legal system fighting money laundering (ML) and terrorist finance (TF) proposed within the new package of AML/CFT reforms proposed by the European Commission last July (2021).…

The Russian invasion of Ukraine has caused major disruption to the textile sector in the region and beyond, with Ukraine manufacturers suffering from being within a war zone, and Russia textile companies suffering from the major sanctions imposed by European, north American and some Asian governments.…

The Global Reporting Initiative (GRI) has taken a stand against the Russian invasion of Ukraine, stressing that alongside the human cost (596 civilians have been killed, said the UN by March 14), the military action threatens sustainable development. “A shared belief in our common humanity” is needed to tackle the Covid-19 pandemic, climate change and commit to UN sustainable development goals, said GRI CEO Eelco van der Enden: “Without a return to peace, the sustainability implications for Ukraine, the wider region and around the world, could be far-reaching.”…

The importance of ensuring auditors and accountants have good self-esteem is perhaps higher today than before, with Covid-19 loading on stress in a tough profession. It has been highlighted by new research from Nyenrode Business University, the Netherlands.

Nyenrode research conducted by Professor Herman van Brenk and co-authors assessed more than 100 audit partners and managers.…

Malawi’s National Council for Higher Education (NCHE) has been accused of allowing accredited universities to operate and deliver academic programmes that breach the minimum requirements it must set under national law. 

The claims come as the NCHE has launched a five-year strategic plan lasting until 2026, which will – for instance – involve the agency improving oversight and its human resources, while enhancing transparency, accountability, governance and management systems.…

INTRODUCTION 

ACCOUNTING used to be restricted to financially measurable matters of profit and loss; expenditure and revenue; taxes and subsidies; investment and liabilities. But the mathematical and statistical skills underpinning a solid set of books and filed accounts are today increasingly being used to measure the environmental and social sustainability of a product, input, production process and supply chain.…

Accountants in the European Union (EU) are facing the launch of a more intrusive and proactive legal system fighting money laundering (ML) and terrorist finance (TF), designed to stem the flow of dirty money across borders.

These are huge. Impossible to count accurately, but the UN Office on Drugs and Crime (UNODC) has estimated that USD2 trillion is laundered annually worldwide from all types of crime, from tax evasion to sanctions busting and drug trafficking to white collar fraud.…

The UK Home Office has announced the relaunch of its Joint Fraud Taskforce (JFT), with its public-private sector partnerships charged with fighting a 24% rise in fraud during the Covid-19 pandemic (from March 2019 to 2021). (1) The relaunch was accompanied by the publication of new fraud charters “across the retail banking, telecommunications, and accountancy sectors”, said a Home Office communiqué.…

The European Union (EU) has at last, after five years of debates, finalised a country-by-country reporting directive designed to force multi-nationals to reveal publicly what profits they make, and taxes they pay, in each country of operation. The goal is to stop multinationals hiding behind consolidated group financial reports that conceal when they might pay taxes in low tax jurisdictions where trading may be light.…