Search Results for: accountancy

A WORK-study programme launched in Singapore last year (2015) is picking up pace with the scheme now covering 21 sectors, from an initial seven. Singapore’s Earn and Learn Programme (ELP) is one of various schemes launched as part of SkillsFuture, a national initiative aimed at fostering a culture of lifelong learning and skills mastery within the city state.…

The Philippines has been standing accused of passively aiding money launderers and terrorist financers ever since its Anti-Money Laundering Act in 2001 exempted local casinos from the duty of submitting suspicious transaction reports on their operations.. But pressures to revise that decision have been growing markedly since earlier this year Chinese cyber hackers managed to launder USD81 million through banks and casinos in Manila, with only approximately USD6 million of the booty recovered so far.…

AFRICA’S economic growth means it does not just have more banks than before, banking groups are spreading across national borders. And while this can boost banks’ lending and savings security, it also complicates the job of regulators charged with ensuring such institutions are honest and solvent.…

LAWRENCE Agbor Abunaw had set his sights on the banking sector as an economics undergraduate student at the UK’s University of Leicester more than two decades ago. But a career orientation fair and meeting a headhunter changed the Cameroonian’s goals and led to joining the accountancy profession in May 1993 with PwC France, before returning to his country of birth Cameroon for eight years.…

A senior tax expert has advised accountants to carefully monitor for their clients likely changes in taxation promoting sustainability as international concern grows over inequality. The Association of Chartered Certified Accountants’ (ACCA) head of taxation Chas Roy-Chowdhury’s comments come as the Organisation for Economic Co-operation & Development (OECD) released a new report advising taxation policy makers worldwide on how to promote sustainable growth by sensitively designing tax systems.…

With new UK Prime Minister Theresa May apparently determined to fulfill the wishes of the 52%/48% Brexit referendum result backing Britain leaving the European Union (EU), what EU accounting and taxation laws will ultimately remain on the British statute? The PM has made it clear she recognises that a key force behind the ‘leave’ vote was a dislike of unrestricted EU immigration into Britain, and should she satisfy that demand, the prospect of the UK becoming a non-EU member of the European Economic Area (EEA) will become most unlikely.…

Small accounting firms could be driven out of Europe’s auditing market by new European Union (EU) audit rules that came into force on June 17 experts warned a joint European Confederation of Directors Associations (ecoDa) – PricewaterhouseCoopers (PwC) conference. Entitled ‘Audit committees at the heart of the Audit Reform’, the Brussels meeting examined the impact of EU directive 2014/56/EU on statutory audits – the law is designed to prevent conflicts of interest between auditors and their clients.…

THE BUSINESS model of the fashion industry has long been that of low prices, low manufacturing wages, quick production, and just as quick obsolescence. In that respect, it seems as far removed as any industry from sustainability.

Yet, increasingly, ethical brands are emerging.…

MYANMAR, the world’s newest democracy, is taking steps to improve its financial reporting. Its reforms are new – as befits a country that saw its first and only stock exchange – the Myanmar Securities Exchange Centre (MSEC) – open on March 25.…

THE DIRECTOR general of the European Union (EU) anti-fraud office OLAF has stressed that his agency needs closer ties with accountants. In an interview with Accounting & Business a day before the agency released its latest annual report (on May 31), Giovanni Kessler stressed that accountants working inside and outside institutions were ideally qualified to help sniff out fraud.…