Search Results for: accountancy

BY RAGHAVENDRA VERMA, IN NEW DELHI

A RAFT of legislative and administrative changes drafted and introduced last year have been designed to make India to conform with Financial Action Task Force (FATF) guidelines, answering a critical 2010 assessment.

"India is largely compliant with the FATF recommendations, both by the way of technical compliance and effectiveness of implementation," said a senior Indian government official who deals closely with money laundering issues.…

BY DAVID HAYHURST, IN PARIS

When talking to Accounting & Business in her Paris office, Michèle Cartier Le Guérinel often struggles to make herself heard over the noise of the renovations shaking the walls on either side of her. Several floors of her international accountancy organisation FIDEF’s headquarters, in an anachronistically new and large building on an otherwise quiet street in the most elegant seventh arrondissement (a stone’s throw from the Eiffel Tower), are undergoing a thorough makeover.…

BY MJ DESCHAMPS

THE GREEN picturesque land of New Zealand has recently gained some new human scenery: new stadiums and roadways, and an estimated 95,000 additional flag waving visitors: the 2011 Rugby World Cup (RWC) is now underway. By the first kick-off between New Zealand’s All Blacks and Tonga on September 9, at a revamped Eden Park stadium in Auckland, the country’s central and local governments had already spent approximately New Zealand dollars NZD500 million (USD411 million) on the event.…

BY RAGHAVENDRA VERMA, IN NEW DELHI

THE INCREASING popularity of corporate whistleblower services in India is prompting foreign accounting and advisory firms to introduce international best practices in the country for employees wanting to raise the alarm over corruption, fraud and financial malpractice.…

BY JUSTIN STARES

ACCOUNTANTS could help the European Union’s (EU) anti-fraud watchdog track down embezzlers, according to the newly appointed chief. In an interview at his Brussels office Giovanni Kessler, director general of European anti-fraud office OLAF, believes there is room for greater involvement of the private sector in both uncovering fraudsters and reporting fraud.…

BY SERAJ ELALEM and BRIAN CONLEY

AS REBEL forces take over Tripoli, a Libyan PricewaterhouseCoopers (PWC) accountant has told how he fled Tripoli to return home to Benghazi early this February, because he knew a rebellion was coming and he wanted to be with his family when it broke out.…

BY MARK GODFREY

WITH the fast-growing Chinese economy looking increasingly to overseas expansion and foreign mergers and acquisitions, it is not surprising so-called second tier accountancy alliances such as BDO and Crowe Horwath are keen for a piece of the action in China.…

BY RAGHAVENDRA VERMA

INDIA’S Satyam Computer Services, the company found involved in a US dollars USD1 billion dollar fraud in January 2009, is fighting a USD138 million tax claim on fictitious income shown in its accounts between 2002 and 2008.

Now known as Mahindra Satyam, since being sold to Tech Mahindra in a government auction in April 2009, it has petitioned India’s Supreme Court to fight a High Court order backing the country’s tax authorities.…

BY ALAN OSBORN, KEITH NUTHALL and RAGHAVENDRA VERMA

THE INTRODUCTION of new global accounting standards through the adoption of International Financial Reporting Standards (IFRS) which began some five years ago and will take 10 or more years to achieve is a massive undertaking which will revolutionise corporate bookkeeping and lead to an international standard matrix of values allowing for much greater transparency and facilitating country-by-country financial comparisons.…

BY NEIL CALLANAN

THE CHOICE of The Shelbourne Hotel on Dublin’s St Stephen’s Green for Ireland’s first major post-recession property auction could not have been better. The grand dame of Irish hotels in many ways serves as a microcosm of the boom and the bust of the Irish property market over the last decade.…