Search Results for: accountancy

IN a fast-growing emerging economy such as Bangladesh, companies and consumers alike can sometimes play fast-and-loose with the truth to hide financial wrongdoing and commit frauds, but they will have to reckon with Bangladesh’s Comptroller and Auditor General Masud Ahmed and his staff.…

While many economies in Africa are growing fast, there is a consensus amongst accountants that the continent has to build its business reporting and administration to make sure this growth is sustainable. Indeed, the third African Congress of Accountants (ACOA), staged in Port Louis, Mauritius, from May 11 to 14, heard that this essential work is needed now, even as some countries remain marred by severe socio-political unrest, economic instability, poverty, famine and disease.…

Best-selling Australian author and accounting historian Jane Gleeson-White sees accountants as potential revolutionaries with the power to save the planet. Now, there’s a thought.
They need to be creative, however. And while such tactics are generally associated with the mafia and corporate crooks, laundering the proceeds of drug cartels or squirrelling profits away from the view of the taxman, Gleeson-White, 54, challenges this perception.…

Bangladesh’s top auditor understands only too well the key role strong auditing can play in an emerging economy such as his own country – for good or ill. Indeed, he does not mince his words when he recalls the role auditors played in Bangladesh’s 2011 capital market collapse that ruined millions of small investors.…

Malaysia’s finance ministry has released a comprehensive plan to boost the strength of the accountancy profession in the country. Drafted by a special committee to strengthen the accountancy profession (CSAP), the policy is designed to ensure Malaysia has sufficient numbers of professional accountants and reform the profession’s governance.…

While Cambodia’s GDP growth over the past two decades has been tremendous, averaging 7.6% per year since 1995, Cambodia remains a developing market and its accounting industry is still very much a work in progress. One person deeply involved with helping push its accounting world forward in Cambodia is 40-year-old Kimleng Khoy.…

Nobody has yet made a wholly compelling claim that for all the resources being devoted to fighting money laundering, regulators, law enforcers and businesses are winning the battle against it. Indeed, there is no consensus that the anti-money laundering (AML) establishment is even approaching the challenge in the right way by relying so heavily on the private sector.…

Companies are being offered an increasing amount of advice, guidance and tools to fight the demand for and payment of small bribes such as cash and vouchers, benefits in kind such as tickets to sporting events, pre-paid phone cards, alcohol, tobacco and perfume.…

The Bangladesh cabinet on Monday (Nov 10) finally proposed a long awaited law to regulate Bangladesh’s audit profession, which had been stalled amidst disagreements between auditors and management accountants

A draft Financial Reporting Act will now be presented for a vote by the country’s parliament, the Jatiyo Sangshad, although the government has yet to release full details.…

As anti-money laundering (AML) regulations become more complex and demanding, compliance technology and software providers are updating their solutions to screen more data, more efficiently, and present the results in a comprehensible way. Companies have been honing products to help clients switch to their software, dealing with problems such as incorporating old data from a legacy system; moving such data efficiently and accurately; and minimising errors by staff unused to the system.…