16 January 2018 IFAC in the News
IFAC | 12 JANUARY 2018
Expanding SMP Services: Agreed-Upon Procedures Engagements Agreed-Upon Procedures (AUP) engagements provide a great opportunity for smalland medium–sized practices (SMPs) to grow, and deliver a valuable client service. IFAC (The International Federation of Accountants) has released a new publication ...
Standard-Setting Boards in the News
ENP NEWSWIRE | 15 JANUARY 2018
Final Report on Guidelines on uniform disclosure of IFRS9 transitional arrangements Release date - 12012018 Guidelines on disclosure requirements on IFRS 9 transitional arrangements. Transparency and Pillar 3 The European Banking Authority (EBA) published today its final Guidelines on disclosure requirements of IFRS 9 or ...
INSURANCE NEWSLINK | 14 JANUARY 2018
Trend; Aptitude Software publishes its first bi-annual Global IFRS 17 Readiness Assessment Report(GIRA) as implementation pressure mounts Aptitude Software, the financial software specialist, has published its first bi-annual Global IFRS 17 Readiness Assessment Report(GIRA) to assist cfos and their finance teams in addressing IFRS 17, the most significant change to insurance ...
ACCOUNTING TODAY ONLINE | 12 JANUARY 2018
PwC and Accruent partner to address new lease accounting standard Big Four firm PwC and Accruent, which makes physical resource management software, have partnered to address the upcoming lease accounting changes from the Financial Accounting Standards Board and the International Accounting Standards ...
INTERNATIONAL ACCOUNTING STANDARDS BOARD | 19:00, 10 JANUARY 2018
11 January 2018IASB issues IFRS Taxonomy Update for IFRS 17 Insurance Contracts The International Accounting Standards Board (Board) has today issued an update to the IFRS Taxonomy 2017 for IFRS 17 Insurance Contracts. The IFRS Taxonomy Update includes IFRS Taxonomy elements to reflect the new presentation and ...
MUBASHER | 10 JANUARY 2018
UAE banks to apply IFRS 9 in January The central bank announced that all banks should apply IFRS 9 instead of 39 Dubai – Mubasher: UAE banks are set to begin implementing the International Financial Reporting Standards (IFRS) for provisions in their balance sheets starting ...
News that Matters to the Profession
THE ECONOMIC TIMES - DELHI EDITION | 16 JANUARY 2018
ICAI to Seek Powers to Act Against Errant Audit Firms Mumbai: The Institute of Chartered Accountants of India (ICAI) is set to reiterate its demand for more powers to slap penalties on audit firms, following the action by the Securities Exchange Board of India (Sebi) against Price Waterhouse ...
ASSOCIATION OF CHARTERED CERTIFIED ACCOUNTANTS (ACCA) | 19:00, 14 JANUARY 2018
Impressive results announced for ACCA’s December 2017 exam sitting The Essentials exams pass rates in particular were strong, especially that of P3 Business Analysis. ACCA is currently carrying out extensive Train the Trainer sessions across the world in preparation for the Strategic Business Leader study ...
CANADA NEWSWIRE | 10:41, 15 JANUARY 2018
CPA Canada Business Monitor: Canadian Tax Reform and Balanced Federal Budgets TORONTO, Jan. 15, 2018 /CNW/ - A review of the country's tax system and setting a target date for a return to balanced federal budgets are endorsed by professional accountants in leadership positions, according to a new survey conducted for...
THE ECONOMIST | 13 JANUARY 2018
Accountancy in Afghanistan: Cultivating bean-counters How to build a profession from scratch WHEN Afghan lawmakers were debating rules of conduct for accountants, some were confounded by their strictness. Why should those found guilty of murder, asked one member of parliament, be struck off? ...
THE BORNEO POST ONLINE | 11:00, 13 JANUARY 2018
Mapping the sustainability landscape KUCHING: The ways of doing business has evolved with time. Long gone are the days of operating a business purely for the want of generating profits; these days, it is crucial to consider of the impact our businesses have on our enviroment,...
DAILY FT | 12 JANUARY 2018
CA Sri Lanka scholarships for the top three commerce achievers at the 2017 GCE Advanced Level exam The top three achievers in the commerce stream at the 2017 GCE Advanced Level exam were recently awarded with scholarships from the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) to kick-start their professional journey as ...
SCMP.COM | 12 JANUARY 2018
Optimism over economic outlook for 2018 surges among Hong Kongs finance professionals Finance professionals in Hong Kong are six times more optimistic about the city's economic outlook in 2018 compared to last year, thanks to economic growth in mainland China, a firm US economy, low interest rates and a government plan to ...
BUSINESS STANDARD | 12 JANUARY 2018
Sebi order against PW has audit profession in a tizzy The audit profession is a divided lot when it comes to reacting to the Securities and Exchange Board of India’s (Sebi’s) order barring Price Waterhouse (PW) network firms from the audit of listed entities for a period of two years. Most ...
PRESS TRUST OF INDIA | 12 JANUARY 2018
Punished auditors involved in Satyam case; no powers to act against CA firms: ICAI New Delhi, Jan 12 (PTI) Within days of Sebi passing order against Price Waterhouse network entities in the Satyam scam, chartered accountants' apex body ICAI today said it had awarded maximum punishment to individual ...
BUSINESS TODAY | 19:20, 11 JANUARY 2018
Domestic audit firms get a leg up with FDI policy getting tweaked to allow joint audits Back in July last year, Prime Minister Narendra Modi had said "People talk of the Big 4 accounting firms. Sadly, there is no Indian firm there." Speaking at the Foundation Day of the Institute of Chartered Accountants in India (ICAI), he ...
AICPA INSIGHTS | 11 JANUARY 2018
3 things more important than tax reform in 2018 Your phone’s already ringing. Clients want to know how the new tax law will impact them. This is understandable, but don’t worry if you aren’t ready to answer their questions just yet It’s a big law and the IRS has yet to provide even the ...
ACCOUNTANCY NEWS POWERED BY TIMETRIC | 11 JANUARY 2018
Stakeholder survey calls for increased transparency from the UK FRC A stakeholder survey on the corporate governance, reporting and effectiveness of the UK Financial Reporting Council (FRC) has called for more transparency from the UK regulator.
CFO.COM | 11 JANUARY 2018
FASB Seeks Cut in Lease-Accounting Costs The board offers an option it thinks will cut paperwork and other expenses linked to its new lease-accounting standard. Driven by feedback from corporate executives that complying with the Financial Accounting Standards Board’s new ...
DAILY FT | 11 JANUARY 2018
Thinking ahead!: ACCA Platinum Employer WNS outline's future of finance outsourcing With many companies using finance outsourcing to add value, increase business flexibility and prepare for future growth, ACCA (Association of Chartered Certified Accountants) has played a significant role in being at the forefront of ...
JOURNAL OF ACCOUNTANCY | 9:24, 11 JANUARY 2018
FASB addresses financial reporting impacts of new tax law FASB addressed numerous financial reporting implications of P.L. 115-97, known as the Tax Cuts and Jobs Act, on Wednesday in an effort to provide financial statement preparers with timely answers to questions they have posed.
ACCOUNTING TODAY ONLINE | 10 JANUARY 2018
How revenue recognition will change forever Revenue recognition is one of the accounting topics most examined by investors and regulators. The core principle of the Financial Accounting Standards Board’s new revenue recognition standard is that an entity should recognize revenue to ...
AMERICAN BANKER | 10 JANUARY 2018
CECL compliance dragging small banks toward automation Like many small-to-midsize banks, Bank Independent in Sheffield, Ala., calculated its monthly allowance for loan and lease losses the hard way: setting aside a week every month to complete a largely manual, Excel-based model.
ASSOCIATION OF CHARTERED CERTIFIED ACCOUNTANTS (ACCA) | 19:00, 8 JANUARY 2018
ACCA extends support of the Scottish Accountancy & Finance Award We are proud to actively support excellence in both current and future generations of accounting professionals. ACCA (the Association of Chartered Certified Accountants) is pleased to announce continued support and sponsorship for the ...
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