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China’s sportswear brands have witnessed significant growth in sales during the Covid-19 pandemic, especially on domestic markets where consumers have embraced athleisure trends. Prominent examples include Beijing-based Li-Ning and Jinjiang-based Anta, which reported Chinese Yuan Renminbi-denominated sales growth of 14.3% (1) and 15.5% (2) respectively in 2022.…

Experts at the recent global Association of Certified Fraud Examiners (ACFE) conference in Seattle have been stressing the potential that crypto blockchains offer in tracking commercial crime – but more comprehensive regulation would aid probes. Keith Nuthall and Andreia Nogueira report.…

The world’s 600 largest companies are failing to provide full disclosure of anti-bribery and corruption information within their sustainability reporting, according to a joint report (1) backed by the International Federation of Accountants (IFAC). Working with from Transparency International UK and the World Economic Forum’s Partnering against Corruption Initiative.…

Human trafficking and modern slavery have grown exponentially in recent years: in 2021, 50 million people worldwide were estimated to be living in modern slavery, 10 million more than in 2016, according to the International Labour Organisation (ILO). (1) These crimes – sometimes referred to with the acronym HT-MS – are extremely profitable, ahead of narcotics and arms trafficking, according to Tarana Baghirova, programme officer at the Organisation for Security and Co-operation (OSCE) in Europe.…

Cybersecurity experts are warning that the clothing and textile sector is putting itself at risk from hacking and virus attacks by failing to sufficiently appreciate that they are potential targets of online criminals.

“Hackers select targets based on their financial capability.…

As tech evolves, notably through the development of artificial intelligence (AI), anti-money laundering (AML) compliance officers at obliged entities are assessing a growing range of applications and platforms.
The global AML software market size is estimated to grow by USD2.7 billion from 2022 to 2027 at a compound annual growth rate (CAGR) of 15.01%, although “the high cost of implementation may impede” this expansion, according to the Illinois, USA-based market researcher Technavio.…

THE COVID-19 pandemic brought many changes to the world, and changes in fashion that incorporated a desire to enjoy a healthy lifestyle was one. With many consumers spending more time at home, including during working hours, demand for comfortable clothes with functionality to aid indoor and outdoor exercise has boomed.…

The Canadian auto sector and governments appear united in saying the huge subsidies sunk into securing a Canadian dollars CAD7 billion (USD5.1 billion) Volkswagen battery plant in St Thomas, southern Ontario, make good commercial and economic sense.

The level of financing could indicate what the Canadian and Ontario governments will have to spend to persuade Stellantis to restart stalled work at its planned battery manufacturing plant in Windsor, across the border from Detroit.…

The G7 group of industrialised nations has promised to ramp up sanctions against Russia over its invasion of Ukraine, including additional efforts to prevent circumvention.

Following a summit in Hiroshima, Japan, the group warned G7 members increase engagement with “third countries through which restricted G7 goods, services, or technology may be provided to Russia…”

It called on “third parties to immediately cease providing material support to Russia’s aggression or face severe costs”.…

Accountants and auditors have been asked to contribute to an International Sustainability Standards Board (ISSB) review of its sector specific SASB standards, to make them more applicable worldwide. The ISSB has taken responsibility for the former Sustainability Accounting Standards Board (SASB) standards, which companies using its IFRS S1 and S2 standards on general sustainability and climates must consider when drafting sustainability reports.…