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What’s new with GAAP?

What’s new with GAAP? In March 2018, the Financial Accounting Standards Board (FASB) stated that the United States Securities and Exchange Commission (SEC) confirmed its approval of the 2018 U.S. GAAP taxonomy. The FASB is an independent not-for-profit organization that … Continue reading

Brexit delays MTD mandate and implementation

Brexit delays MTD mandate and implementation A deadline of 2020 is set for all tax returns to be digitised. However, the Brexit split will delay the MTD (making tax digital) mandate and its implementation which might extend the timeline for … Continue reading

2017 IFRS Foundation Annual Report Released
  •   28 May, 2018  Posted By Karthik Sathuragiri   Posted in ESMA, IFRS
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The IFRS Foundation, which is a not-for-profit public interest organisation that oversees the International Accounting Standards Board (IASB), recently released its 2017 annual report and financial statements. Here are some of the key milestones the Foundation reported in 2017, along … Continue reading

CbCR Hurdles Faced By Tax Departments

In thе раѕt years, the glоbаl rеgulаtоrу environment has bесоmе increasingly demanding fоr multіnаtіоnаl еntеrрrіѕеѕ (MNEѕ). In an attempt tо сrеаtе grеаtеr trаnѕраrеnсу, mаnу tаx аuthоrіtіеѕ nоw require MNEѕ tо rероrt more dеtаіlеd іnfоrmаtіоn wіth rеѕресt tо іnсоmе tаxеѕ раіd. … Continue reading

IFRS 16: Upcoming Changes to Lease Accounting

IFRS 16 Leases comes into effect from 1 January 2019. As the standard will bring about wide-reaching changes to the way businesses account for leases, we highlight what you need to know below. The existing rules will change Currently, leases … Continue reading

ARM or NCA? Benefits of direct MiFID submission
  •   22 May, 2018  Posted By Swappna D   Posted in MiFID
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MіFID II hаѕ reopened the ARM vs NCA dеbаtе. Hоwеvеr, the question hаѕ become more соmрlеx owing to an іnсrеаѕе in the іnfоrmаtіоn required fоr MiFID II rероrtѕ, with аvаіlаblе fіеldѕ jumріng frоm 24 to 65. A brief introduction to … Continue reading

Why you should outsource your iXBRL requirements
  •   22 May, 2018  Posted By Amruth   Posted in ixbrl
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Different regulatory bodies across the world have passed regulations for publicly traded corporations in recent times. Over the past year, many organisations and regulatory agencies have put forth new rules that govern how and when organisations must report their annual … Continue reading

Things you should know about CIPC’s XBRL Programme

The Companies and Intellectual Property Commission (CIPC) embraces international best practices and the іmрасt of the use of iXBRL when submitting Annual Financial Statements (AFS) online and in improving efficiency. iXBRL will simplify reporting financial information electronically for companies. The … Continue reading

Country by Country Reporting: Getting It Right
  •   21 May, 2018  Posted By Karthik Sathuragiri   Posted in CbCR
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Country-by-Country (CbCR) reporting is part of Action 13: Transfer Pricing Documentation and Country-by-Country Reporting of the Base Erosion and Profit Shifting (BEPS) initiative by the OECD.   Part of a three-tiered approach CbCR is just one part of a three-tiered … Continue reading

Structuring the Unstructured – XBRL

XBRL Continues to Make Waves eXtensible Business Reporting Language, or XBRL for short, is an XML-based global data standard that has changed the way that organizations share their business and financial data. We’ve previously discussed the importance of XBRL implementation, … Continue reading

The ESMA Mandate: Impact of iXBRL and ESEF for listed companies in the EU

Digitisation is the norm everywhere; including the agenda from European Securities and Markets Authority (ESMA), pushing for better utilisation of technology in reporting and compliance. The goal being to ensure listed companies within the EU are preparing their annual financial … Continue reading

Things you should know about country-by-country reporting (CbCR)

What is Country-by-Country Reporting and who are the OECD? The Organisation for Economic Cooperation and Development (OECD) is a forum that involves the governments of 35 member countries working alongside those of other 70 non-member countries, all with the aim … Continue reading

Why CFOs should care about FATCA

The Foreign Account Tax Compliance Act (FATCA) was brought into law in 2010. Designed to increase tax compliance by U.S. taxpayers with funds held overseas, FATCA has had wide-ranging implications since its introduction. Not only does FATCA impact U.S. taxpayers … Continue reading

Solvency II: PRA Issues Consultation Paper on Modelling of Volatility Adjustment

Although Solvency II is now well and truly in force, the Prudential Regulation Authority (PRA) continues to publish a number of consultations into Solvency II. The topics of the consultations have ranged from regulatory reporting to changes to the external … Continue reading

Purchasing regulatory software? The 7 things that should be on your checklist

MiFID II, and its accompanying regulation MiFIR, going into effect in January 2018, improved transparency for investors, but at the same time, greatly increased the burden for firms on the reporting front. In addition, the forthcoming General Data Protection Regulation … Continue reading



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