Search Results for: accountancy

ACCOUNTING firms auditing overseas-listed Chinese companies are keeping a close eye on a draft regulation released by China’s finance ministry on April 29 which would restrict the roles that foreign auditors can play in this work.

This ‘Accounting Firms Cross-border Auditing Service Temporary Regulation’ would prevent accounting firms registered outside mainland China from carrying out au­dits alone for Chinese overseas-listed enterprises, in­cluding overseas listed enterprises with operat­ions in China.…

There are fewer than 1,000 certified accountants in Afghanistan, of which less than 200 are Afghanistan in a country of 29.82 million says the American University of Afghanistan (AUAF), and there are no national accounting regulations. More than 30 years of conflict has left the country’s economy in shambles, and with foreign troops being withdrawn by 2016, developing the accountancy sector and its domestic regulations is a priority to underpin sustainable growth.…

WHEN the Trinidad & Tobago government in 2003 decided to close down much of the Caribbean country’s 300-year old sugar cane industry, it was described by detractors as one of the most politically ambitious moves in the history of the twin-island republic.…

These are testing times for everyone in Ukraine: a revolution followed by the annexation of Crimea by Russia; pro-Russian separatists stoking unrest and grabbing government buildings in eastern Ukraine; and worries of a full-scale invasion. Just as pertinently, these hugely destabilising political upheavals have merely added to the existing turmoil of a state plagued for decades by corruption and low living standards.…

These are testing times for everyone in Ukraine: a revolution followed by the annexation of Crimea by Russia; pro-Russian separatists stoking unrest and grabbing government buildings in eastern Ukraine; and worries of a full-scale invasion. Just as pertinently, these hugely destabilising political upheavals have merely added to the existing turmoil of a state plagued for decades by corruption and low living standards.…

The European Union (EU) has ended nearly four years of speculation and uncertainty for auditors by agreeing a package of audit reforms that reflects major signs of compromise but which nevertheless will bring about big changes in the profession. The clear hope is that the changes will lead to a more competitive and effective audit profession, thereby helping prevent a repeat of the financial crisis of the last few years.…

THE SINGAPORE Parliament has beefed up the powers of the country’s accounting regulator, especially over corporate service providers. MPs passed an accounting and corporate regulatory authority (amendment) bill, which will insist corporate service providers be registered as filing agents, able to help companies with their establishment, legal advice, regulatory filings, office hosting and secretarial services.…

EUROPEAN accountants are looking to the negotiations for a free trade agreement between the USA and the European Union (EU) with the hope that it will make it easier for them to switch shores of the Atlantic to practice their profession.…

RECENT scandals involving the mis-selling of financial products, the rigging of the LIBOR interest rate for interbank lending, insider fraud, and bribery and corruption throughout and beyond companies’ supply chains are costing organisations dearly both financially, reputationally and legally.

In the US, the Foreign Corrupt Practices Act (FCPA) lies in wait for wrongdoers; in the UK it is the 2010 Bribery Act.…

BY MARK ATKINSON, in Dubai

FEMALE financial specialists are leading the charge in the Gulf region for women to gain senior professional positions in countries where men have traditionally dominated career structures.

How finance can be a catalyst for this process and the challenges facing women attaining top management positions within the United Arab Emirates (UAE) in particular, was the focus of discussions at an ACCA roundtable staged on January 21 in Dubai.…