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How US-Iran tensions might affect Gulf sovereign ratings

From SPGlobal: Tensions in the Arabian Gulf increased in May 2019 after exemptions from sanctions ended on countries buying oil from Iran. Since then, Iran has been accused of retaliating against the sanctions by allegedly damaging infrastructure and commercial shipping vessels in the Gulf. Also, Iran is now threatening to restart its nuclear program. Furthermore, the U.S. gove ...

Update on UN Practical Manual on Transfer Pricing for Developing Countries

The UN Transfer Pricing Subcommittee has provided a work designed to move forward its guidance in updating the UN Practical Manual on Transfer Pricing for Developing Countries.  The paper provides three attachments addressing: Financial Transactions, a new chapter Profit Splits, revised text Establishing Transfer Pricing Capability, Risk Assessment and Transfer P ...

Trade disputes cast a global shadow

From SPRatings: Trade tensions—in particular the tariff dispute between the U.S. and China—are casting a shadow on the global economy and financing conditions in all regions. On the bright side, central banks in the world’s biggest economies stand ready to goose growth with interest-rate cuts, and borrowersaround the globe are still enjoying a historic run of benign credit cond ...

The Human-Centred Business Model - join the club

The Human-Centred Business Model (HCBM) is an innovative sustainable business ecosystem that provides the tools and inputs to the private sector, public authorities and consumers when developing new businesses. At the center of the model are economic, social, environmental sustainability and ethical/integrity values that can lead to more sustainable business practices. This ses ...

Did Steinhoff’s CFO jump ship, or was he pushed?

Surely all hands should be on deck? From Moneyweb. Steinhoff recently issued a terse statement: “Philip Dieperink will step down, by mutual consent, from both his membership of the Management Board of Steinhoff and as CFO on 31 August 2019 after the 2019 AGM. Following a handover period, he will leave the Steinhoff Group on 31 December 2019. Philip will be succeeded as CFO by ...

Goodwill Accounting—Bane of GE, Kraft Heinz—Under Scrutiny

From Bloomberg Tax: The accounting charges that laid bare deep problems—and led to multi-billion dollar writeoffs—at Kraft Heinz Co. and General Electric Co. could get a makeover. U.S. accounting rulemakers are mulling changes for reporting goodwill, the intangible asset that can make headlines when a merger goes sour. Under one option, companies would be allowed to amortize t ...

How auditors wrecked capitalism

We are programmed to regard accountants with reverence and unquestioning trust. They are the record keepers of the economy and arbiters of financial truth. Double-entry bookkeeping was an astounding development. It allowed business owners to record assets and liabilities rather than simply track the movement of cash and goods. It introduced the concept of ‘capital’ to the busi ...

The Sustainable Development Goals: Redefining context, risk and opportunity across Africa

The opportunities for socioeconomic transformation that the Sustainable Development Goals (SDGs) encompass will require active participation by the accountancy profession. From ACCA: Countries across Africa are going through unique processes of economic transformation. The Sustainable Development Goals (SDGs) provide a roadmap for the continent to build prosperity that is re ...

Bridging the African infrastructure gap: Bringing accountants to the centre of the decision-making process

From ACCA: The accountancy profession can support infrastructure development in Africa in a number of ways: starting from improving the business environment and helping the government to assess the infrastructure project’s financial feasibility and economic impact through innovative models and methods. Until now, the profession’s role in supporting growth in the private sector ...

Blockchain: hype or hope?

Blockchain technology offers a promise of many benefits, but only if it's designed and built correctly. There is a stark contrast between what I call the “technical view” and the “business view” of emerging technologies like blockchain, AI, and quantum computing. However, focusing only on one or the other can present challenges that have long-term consequences for companies. ...

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