Financial and Accounting News

• November 16, 2018 South Korean Financial Regulator Accused Samsung BioLogics of Accounting Violations South Korea’s financial regulator has said that Samsung BioLogics has violated accounting rules with regards to the treatment it has adopted to account for its holdings in one of its subsidiary. The company in question ...
• November 15, 2018 IASB Confirms One-year Delay for IFRS 17 The International Accounting Standards Board (IASB) has proposed to extend the effective date for IFRS 17 Insurance Contracts by one year. IASB is also planning to extend the temporary exemption available for ...
• November 14, 2018 Redrow Appoints KPMG as its New Statutory Auditor FTSE 250 firm Redrow has replaced PwC with KMPG for the financial year commencing July 1, 2019. The appointment of the big four firm KPMG is subject to shareholders approval at the company’s next annual general meeting ...
• November 12, 2018 ACCA Publishes Report on Emotional Intelligence Important for Accountants to Survive in the Modern Workplace According to a recent report released by the ACCA, emotional intelligence in addition to a well-rounded skillset are pretty important if the accountants are to survive and thrive in a field that is highly tech-driven ...
• November 12, 2018 Air Partner Replaces Deloitte with PwC as its New External Auditors Private jet operator Air Partner plc has replaced Deloitte with PwC as the group’s new auditor. The FTSE 250 firm has decided to appoint PwC as its external auditors for the financial year ending January 31, 2019 after ...
• October 26, 2018 European Auditors Publish their Work Plan for 2019 The European Court of Auditors (ECA) has set aid provided by the state to banks as one of the main priorities as part of their work programme for the year 2019. The ECA has said that it plans to address a number ...
• October 25, 2018 Former Oil Company Executives Convicted of Fraud and Money Laundering The former chief executive officer (CEO) and chief operating officer (COO) of company Afren have been found guilty of committing fraud and money laundering over a $300m oil deal.  At Southwark Crown Court, ...
• October 24, 2018 ACCA Signs MOU with the Chamber of Auditors of Republic of Kazakhstan ACCA (the Association of Chartered Certified Accountants) have signed an agreement with the Chamber of Auditors Kazakhstan (COA) to further develop and support the audit profession in Kazakhstan. As per the MOU ...
• October 23, 2018 HMRC Enquiring English Premier League Clubs and Players Over Potential Tax Avoidance on Sale of Players’ Image Rights HMRC is enquiring more footballers and their agents regarding allegations of potential tax avoidance with respect to players’ image rights. Currently 171 football players, 44 English premier league and Football ...
• October 22, 2018 SEC Urges Companies to Focus on Employing Better Accounting and Audit controls against Cyber Threats The US regulator Securities and Exchange Commission (SEC) has urged companies to take threats from the cyber world more seriously than they are doing right now when developing and implementing internal controls for the ...