The Chinese authorities intend to completely prohibit trade of cryptocurrencies in the stock exchanges of the country. Such measures are of a temporary nature and concern exclusively exchange trades
The EU requires Amazon to pay extra 250 million euros of taxes
As a result of illegally granted tax benefits, almost three quarters of the profits of the world’s most famous Amazon Internet company in Luxembourg were not taxed
Staged transition to IFRS in Singapore
Companies that are residents of Singapore and listed in the Singapore Stock Exchange will have to transit to new financial accounting and reporting bases - a local version of IFRS that is almost identical to the original international standards
Soon in Brussels the prospects for the development of non-financial reporting in Europe will be discussed
On November 22, 2017, an extensive presentation of the report on the results of the implementation of a new European Directive on Disclosure of Non-Financial Information (2014/95/EU) in doing business practices will be launched in Brussels (Belgium)
Auditors confirmed that the European Union began to manage finances and prepare financial reporting better
The European Court of Auditors acknowledged that the European Union began to cope with financial management better, and the level of mistakes in the area of budget payments began to decline rapidly.
Ireland does not support the EU idea of tax harmonization in the Eurozone
Paschal Donohoe, the Minister of Finance of Ireland, has made it clear that the Irish government will not join the European Union initiative aimed at harmonization of tax regimes of the EU countries.
Can robots replace accountants in ten years?
At the request of The Royal Society of Arts, YouGov Company conducted a survey among accountants in the UK to reveal their opinion about the possibility of robotizing of their workplaces.
The EU Council of Ministers of Finance and Economy works on the development of new international tax rules that will take into account the peculiarities of the digital economy
The EU Council of Ministers of Finance and Economy held a meeting in Estonia, during which they discussed ways to solve the tax issues related to the onset of the digital economy.
The EU impose a number of requirements relating to Brexit
Well-known publication The Guardian reported that the European Union prepared a number of key requirements for the next round of negotiations on the UK’s exit from the Eurozone for this country.
Start of a large-scale study aimed at identifying key skills that will be needed by auditors and accountants in the future
The South African Institute of Chartered Accountants together with the Independent Audit Authority of the Republic of South Africa launched an interesting study aimed at identifying professional competencies for auditors and professional accountants to be in demand in the future
Increase in requirements for financial reporting and transparency of non-profit organizations in South Korea
The Korean Institute of Certified Public Accountants and the Korean National Council of non-profit organisations signed a memorandum of cooperation
The main innovation of the updated Code of Ethics for Professional Accountants will be clarification of the admissible limits of additional incentives for auditors and their clients
The International Ethics Standards Board for Accountant currently works on a new revision of the Code of Ethics for Professional Accountants
Utility settlement coin – new cryptocurrency is coming in 2018
The six largest banks in the world (Barclays, Credit Suisse, Canadian Imperial Bank of Commerce, HSBC, MUFG and State Street) will jointly launch a new form of instant clearing and settlement of securities transactions in 2018. It is reported by Interfax
Audit firms join the fight against corruption in Brazil
Domingues e Pinho Contadores Brazilian auditing firm together with the Rio de Janeiro Association of Entrepreneurs acted as the organizers of the city’s public observation council. Its main objective is the fight against corruption, the level of which is quite high in Brazil