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Latest News - Regulation

Malaysia introduces audit exemptions

  • Author: Stephanie Wix
  • Published: 29 Aug 2017

The Companies Commission of Malaysia (CCM) has released a directive setting out the category and criteria for audit exemption. The practice.... read more

CCAB issues draft guidance for the accountancy sector on anti-money laundering

  • Author: Stephanie Wix
  • Published: 24 Aug 2017

The Consultative Committee of Accountancy Bodies (CCAB) has issued draft guidance for all entities providing audit, accountancy, tax advisory,.... read more

French institute of directors’ publication supports integrated reporting but calls for improvement

  • Author: Stephanie Wix
  • Published: 18 Aug 2017

Integrated reporting is gradually gaining a foothold in France, however, content of the reports produced is far from perfect particularly from the.... read more

Regulatory sanctions round-up: KPMG USA and PwC fined $6.2m and £5.1 by the SEC and the FRC respectively

  • Author: Stephanie Wix
  • Published: 16 Aug 2017

KPMG USA has been fined by the USA SEC $6.2m over audit failures of an oil and gas company whilst PwC has paid a £5.1m (USD $6.5m) fine to the UK.... read more

The UK government made the right decision in delaying Making Tax Digital, finds survey

  • Author: Stephanie Wix
  • Published: 15 Aug 2017

Findings from a survey on Making Tax Digital (MTD) have revealed that 86% of respondents think that the UK government has made the right decision.... read more

UK FRC launches consultation on non-financial reporting guidance

  • Author: Vincent Huck
  • Published: 15 Aug 2017

The UK Financial reporting Council (FRC) has launched a consultation on amendments to its guidance on the strategic report which encourage.... read more

Most of the information used by investors doesn’t come from the audited financial statement, Canadian audit regulator finds

  • Author: Vincent Huck
  • Published: 11 Aug 2017

The Canadian Public Accountability Board (CPAB) has releases a summary of the key messages that came out of its audit quality symposium revealing.... read more

Johannesburg listed company Sygnia drops KPMG over state capture allegations

  • Author: Vincent Huck
  • Published: 2 Aug 2017

Sygnia, an investment management company listed on the Johannesburg Stock Exchange with a market value of R 1.4bn (US$ 105.4m) has dropped KPMG as.... read more

Accountancy profession coy about UK Chancellor post Brexit tax remarks

  • Author: Vincent Huck
  • Published: 31 Jul 2017

UK chancellor Philip Hammond’s remarks to a French newspaper about not wanting to turn the UK into a tax haven after Brexit, contradicting a.... read more

USA SEC opens consultation on PCAOB’s changes to the auditor’s report

  • Author: Vincent Huck
  • Published: 31 Jul 2017

THE USA SEC has published the PCAOB’s proposed rules on the auditor’s report in the Federal Register for comments by 18 August 2017.. read more

Kenyan institute calls on government to enact financial services authority bill

  • Author: Vincent Huck
  • Published: 25 Jul 2017

The Institute of Certified Public Accountants of Kenya (ICPAK) has urged the government to enact the financial services authority bill 2016 which.... read more

Accountants shouldn’t exploit tax regulation loopholes, Accountancy Europe opines

  • Author: Vincent Huck
  • Published: 20 Jul 2017

Accountants shouldn’t devise and promote tax planning structures or arrangements that are designed to achieve a different result than what is.... read more

Professionals welcome UK government’s delay of Making Tax Digital but concerns remain

  • Author: Stephanie Wix
  • Published: 18 Jul 2017

The UK Government has delayed its plans for the digital transformation of the tax system (MTD) after professional bodies, businesses and MPs raised.... read more

EU expert group calls for convergence of financial and non-financial reporting

  • Author: Vincent Huck
  • Published: 14 Jul 2017

The European Union (EU) High-Level Expert Group on Sustainable Finance (HLEG) has released its first report recommending that the EU Commission.... read more

Sixty eight countries sign a multilateral convention to reduce tax avoidance by multinational enterprises

  • Author: Sarajuddin Isar
  • Published: 8 Jun 2017

Sixty eight jurisdictions have signed a multilateral convention which aims to reduce tax avoidance by multilateral enterprises.. read more

President Juncker grilled by the European Parliament Panama Papers inquiry committee

  • Author: Stephanie Wix
  • Published: 2 Jun 2017

The European Commission president Jean-Claude Juncker faced a meticulous questioning about his current and past record on tax transparency and.... read more

Tax information exchange agreement signed between USA and Netherlands

  • Author: Stephanie Wix
  • Published: 19 May 2017

The USA government has signed a tax information exchange agreement with the Netherlands for income and taxes paid of multinational companies to be.... read more

IASB issues IFRS 17 in insurance accounting shake up

  • Author: Stephanie Wix
  • Published: 18 May 2017

The profession has welcomed IFRS 17, issued by the International Accounting Standards Board (IASB), however it warned of the complexity and cost of.... read more

CIPFA’s Brexit advisory commission recommends further reform and devolution post Brexit

  • Author: IAB and TA editorial
  • Published: 18 May 2017

The independent Brexit advisory commission for public services, launched by the Chartered Institute of Public Finance and Accountancy (CIPFA) in.... read more

BEPS implementation forces countries to find new business incentives, EY report suggests

  • Author: Sarajuddin Isar
  • Published: 11 May 2017

While countries worldwide still pursue low rate strategies, the implementation of the G20/OECD Base Erosion and Profit Shifting (BEPS).... read more

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