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The reform of European Union (EU) statutory audit rules, which came into force on June 17, represents a set of challenges to public interest entities (PIEs) and their audit committees. And with these changes applying to fiscal years beginning on or after this date, and given that there are about 37,000 PIEs (basically listed companies, credit institutions and insurance undertakings) across the EU, the reform is having a profound effect on European corporate governance.…

COMPANIES and the financial professionals that work with them have many risks to worry about, but few can seem as menacing and as alien as the so-called ‘dark web’.

The Internet can be described as an iceberg: the websites and services most people use regularly are the tip, but there is an entire other, much larger world submerged below.…

WITH the Paris Agreement on fighting climate change having come into force on November 4, financial and environmental reporters will start to prepare in earnest for the monitoring and reports that will follow its implementation. Of course, ironically, four days later – on November 8 – Donald Trump was elected as President of the United States, having campaigned against the agreement.…

To keep pace with today’s global and interconnected world, auditors must move with the times, European experts told a high-level Brussels conference on November 16.  Maggie McGhee, director of professional insights at the Association of Chartered Certified Accountants (ACCA) – joint hosts of the ‘Future of Audit’ conference with assurance, tax and advisory services network Grant Thornton International, said: “Auditors need to adapt and constantly innovate.…

UNITED States President-elect Donald Trump’s commitment to withdraw the US from the Trans-Pacific Partnership (TPP) trade deal, condemning the deal as a “potential disaster for our country”, has received the thumbs-down from the cosmetics industry.

“TPP represents an important step forward for the cosmetics industry in the signatory countries, containing as it does a specific annex for cosmetics and personal care,” Cosmetics Europe director general John Chave told Soap Perfumery & Cosmetics.…

India’s largest milk brand Amul has partnered with the online retailer Amazon to increase consumer base in United States for its more specialised dairy products, including ghee (clarified butter), cheese and gulab jamun (Indian dessert), company has announced. “We have been selling Amul products to the US since last 20 years largely to the Indian population through traditional retail channel, but the products like ghee are also liked by local [non-Indian] Americans,” said Rupinder Singh Sodhi, managing director of Gujarat Cooperative Milk Marketing Federation (GCMMF), which owns the Amul brand.…

Specialised debtor finance products for the garment industry are a niche area that continues to grow, and these services are increasingly being offered worldwide. Craig Michie, head of trade finance at Australasian debtor finance company Scottish Pacific, explained to just-style: “We see entry level businesses who need as little as AUD50,000 [USD38,000] and larger businesses who need upwards of AUD50 million but the challenge is the same for both – how to keep trading when the cash cycle is so long in the apparel trade,” he said.…

With a strong national economy and significant investment in construction and public buildings, the Philippine paint and coatings sector is enjoying a period of robust growth. Official figures for the overall paint market have not been published since 2014 but the leading sectors have continued to flourish.…

EXECUTIVES at a Vietnam knitwear company have told WTiN.com that while it has expanded production because of increased exports, if costs continue to rise in this south-east Asian country – the company is prepared to move production overseas.

Over the last roughly 30 years, Thai Son S.P.…

SINCE the bulk of textile and apparel and production moved offshore from the wealthy city state of Singapore – seeking lower costs labour elsewhere – the country has become an industry innovator, and experts say this trend will continue.

The United States department of commerce (DoC) said in a report issued in May (2016): “Manufacturing has moved offshore to mainly other countries in the region, forcing the textile and apparel sector to reinvent itself and focus on research and development.”…