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Փետրվար 14, 2018
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12 February 2018

 

12 February 2018

A Note from the Dow Jones Editorial Team

Please note that the IFAC Digest will not be published on Presidents' Day, February 19th. All relevant content will be included in the next edition on the 20th.

 

 

IFAC in the News

Accounting Today | 5 February 2018

IFAC braces for possible changes in global standard-setting

International Federation of Accountants CEO Fayezul Choudhury, and IFAC CFO and executive director for external relations Russell Guthrie, talk about how international financial regulators are mulling changes in how global auditing standards are set.

 

 

Standard-Setting Boards in the News

Accounting Today Online | 8 February 2018

IFRS 16 compliance presents the choice to be outstanding

One of the main regulations governing leasing arrangements is IFRS 16. In January 2016, the International Accounting Standards Board issued a new accounting standard for leases, called IFRS 16, replacing the old IAS 17 scheme

Business Day | 12 February 2018

Banks brace for IFRS 9 adoption

Nigerian banks are getting ready for the adoption of International Financial Reporting Standards (IFRS) 9, which could see their Non-Performing Loan (NPLs) ratios begin to creep up as lenders may be forced to make new provisions for loans ...

The East African | 7 February 2018

Accounting standard tests the level of preparedness

So much has been written about implementation of International Financial Reporting Standards (IFRS) 9 and its likely impact on global financial markets.

International Accounting Standards Board | 19:00, 8 February 2018

Hong Kong and IFRS Standards: past, present and futureWatch a panel discussion about the role of IFRS Standards in Hong Kong organised by the IFRS Foundation and the Hong Kong Institute of Certified Public Accountants

In conjunction with the IFRS Foundation Trustees meeting in Hong Kong on 31 January, the IFRS Foundation and the Hong Kong Institute of Certified Public Accountants (HKICPA) organised a stakeholder dinner for companies, investors, ...

International Accounting Standards Board | 19:00, 6 February 2018

07 February 2018IFRS Foundation appoints Lee White as Executive Director

The Trustees of the IFRS Foundation, the oversight body of the International Accounting Standards Board, have appointed Lee White as the IFRS Foundation’s Executive Director, in charge of the organisation’s day-to-day operations.

International Accounting Standards Board | 19:00, 6 February 2018

07 February 2018First technical discussion of the Transition Resource Group for Insurance Contracts

The Transition Resource Group (TRG) for Insurance Contracts, set up to support implementation of the new insurance contracts Standard, IFRS 17 Insurance Contracts, had its first face-to-face meeting in London yesterday.

 

 

News that Matters to the Profession

Hawke's Bay Today | 13 February 2018

Accountants helping to tackle rural stress

Chartered accountants are being trained to do more for farmers and rural businesses than just look after the books. As part of a series of workshops organised by Chartered Accountants Australia and New Zealand (CA ANZ), rural chartered ...

Press Trust of India | 12 February 2018

ICAI elects Naveen N D Gupta as president

New Delhi, Feb 12 (PTI) The Institute of Chartered Accountants of India (ICAI) today elected Naveen N D Gupta as president and Prafulla P Chhajed as vice president for the year 2018-19, according to an official release.

South China Morning Post | 12 February 2018

Legislator demands funding for new HK auditing watchdog

Kenneth Leung calls on government to spend HK$300m on the Financial Reporting Council The Hong Kong government has been urged to spend HK$300 ­million on the biggest overhaul of accountancy regulation in a decade, which would give an ...

Business Mirror | 11 February 2018

Integrated thinking and reporting for SMEs

The International Integrated Reporting Council (IIRC) summarizes compelling research findings in 'How valuable is integrated reporting? Insights from best practice companies' and 'realizing the benefits.' Let's focus on what matters most to...

Daily Independent | 9 February 2018

ICAN To Train Professional Accountants In Onitsha, Targets Fundraising For Institute Building

In a bid to produce more qualitative professional accountants in Onitsha and its environs, Anambra state, the Institute of Chartered Accountants of Nigeria, ICAN, Onitsha and District Society, revealed Friday that arrangements were in top ...

The Punch | 9 February 2018

ICAN, Caleb University sign MoU

As part of the effort aimed at improving the accounting profession, the Institute of Chartered Accountants of Nigeria has signed a Memorandum of Understanding with Caleb University under the Mutual Cooperation Agreement with Tertiary ...

Business and Financial Times | 9 February 2018

NBSSI schools SMEs on sustainable business practices

The National Board for Small Scale Industries (NBSSI), in collaboration with the Global Reporting Initiative (GRI), has organised a sensitisation workshop for Small and Medium-sized Enterprises (SMEs) on how to use sustainable reporting ...

The Times | 9 February 2018

Pessimism over Brexit deepens

Business leaders remain pessimistic about the impact that Brexit will have on them, according to Scotland's accountancy trade body. More than two thirds — 68 per cent — of respondents described the provisional arrangement between the UK and ...

India Education Diary | 8 February 2018

The Institute of Chartered Accountants of India celebrates 68th Annual Function

New Delhi, Feb. 8 -- The Institute of Chartered Accountants of India (ICAI) today celebrated its 68th Annual Function at Vigyan Bhawan, New Delhi. The event was graced by, Shri Suresh Prabhu, Hon'ble Union Minister of Commerce & Industry, ...

Supply Chain Dive | 8:00, 8 February 2018

APICS: Costing accuracy within supply chains must improve

A recent joint report commissioned by APICS and the Institute of Management Accountants (IMA) called “Working Together to Enhance Supply Chain Management with Better Costing Practices” reveals the challenges behind creating useful costing ...

The Punch | 9 February 2018

Women accountants support anti-corruption war

The Chairperson of the Society for Women Accountants of Nigeria, an arm of the Institute of Chartered Accountants of Nigeria, Mrs. Folake Onabolu, has reiterated that the society will always support any institution that is fighting against ...

Accounting Today Online | 8 February 2018

Audit committees eye tax reform impact on companies

Audit committees at public companies should be aware of some of the accounting implications of the new Tax Cuts and Jobs Act, according to a new report from Ernst & Young.

Journal of Accountancy | 9:27, 8 February 2018

FASB moving forward on reclassification of stranded tax effects

FASB members moved quickly Wednesday as they seek to provide financial statement preparers with a targeted improvement to reclassify stranded tax effects from the new tax reform law.

The News International | 8 February 2018

Government invests audit watchdog with sweeping powers

The government has added to the authorities of a recently-formed audit watchdog through new regulations, issued with an aim to set the bar of standard/quality even higher for auditing/accounting firms operating in the country, officials ...

Accounting Today Online | 7 February 2018

COSO drafts guidance for managing environmental risks

The Committee of Sponsoring Organizations of the Treadway Commission, in collaboration with the World Business Council for Sustainable Development, released draft guidance Wednesday for applying COSO’s enterprise risk management framework ...

Computerworld Hong Kong | 19:00, 6 February 2018

Big data is transforming Chinese businesses

Big data is transforming many sectors of the Chinese economy, according to research conducted by the Institute of Chartered Accountants in England and Wales (ICAEW) in partnership with the Shanghai National Accounting Institute and Chinese ...

Journal of Accountancy | 9:21, 7 February 2018

AICPA seeks private company relief from some elements of revenue standard

An AICPA committee has asked FASB to provide relief for private companies and certain conduit debt obligors from some elements of the new revenue recognition standard.

Accounting Today Online | 6 February 2018

ACCA opens registration for two new exams

The Association of Chartered Certified Accountants announced Tuesday that registration is now open for two new exams that will debut in September 2018 – the Strategic Business Leader and Strategic Business Reporting exams.

 

 

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