Best practices for engaging tax agents
Last Updated: 24 Feb 2019 Tax compliance is part and parcel of every business in almost all countries. Without proper tax compliance, businesses will run into trouble with tax authorities. Fines, penalties, freezing bank accounts, summons, court’s attendances, imprisonment, not allowing errant taxpayers leaving the country are some of the steps that may be taken…
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Tax Dept
Preparing your Company for FRS115 (IFRS15)
The Accounting Standards Council issued FRS 115 (also known as IFRS 15) on 19 Nov 2014. FRS 115 is effective from annual periods beginning on or after 1 Jan 2018. Earlier application is permitted. Objectives of FRS 115 The objective of IFRS 15 is to set out standards for recognition and measurement of revenues in…
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Barry Jay Epstein, Ph.D., CPA
Corporate Culture goes beyond that of the CEO
Stories of corporate culture gone off the rails have become a regular feature in the headlines. From rampant sexism and bullying, falsifying of critical safety records, to underhand tactics against competitors and outright fraud, breakdowns in standards of governance inevitably lead to demands for strong action to be taken. But while companies, governments and regulators…
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Wan Wei Han
Asia Economic Outlook: July 2018
As we moved into the third quarter of 2018 there is cheer in most countries’ GDP -many recording constant GDP and growth. China the 2nd largest economy in the world and the big brother of Asia recorded a 6.9% growth in 2017. The GDP translated to almost US$13trillion and is forecasted to grow to US$13.3…
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Paul Wan, FCA
Failed Corporate Governance: Handmaiden of Financial Fraud
Financial reporting frauds (also called management frauds) have become endemic, with huge losses being inflicted upon shareholders, creditors and others. Some of the most infamous frauds of the past two decades – Enron, WorldCom, Satyam, Olympus, Toshiba, and Parmalat being a small sample – have implicated the same key concerns. These include: the deviant “dark…
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