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Is your foreign company worth the paper it’s written on?

Economic substance has become a major buzzword for companies doing business in other countries – but many South African companies have yet to make the necessary adjustments to their international structure to ensure compliance, more than 18 months after the regulations came into force. This warning comes from Sovereign Trust’s Rone Silke, who says companies that do not comply ...

New proposals for double taxation agreements in EU

Issued by the CFE Fiscal Committee. Republished from IAFEI Quarterly bulletin June 2020. CFE welcomes the Commission's intention to expand and improve the mechanisms available to member states to resolve double taxation disputes with the introduction of Council Directive No. 2017/1852 of 10 October 2017 on tax dispute resolution mechanisms in the European Union. CFE Commented ...

What Mexico will give to the world after COVID-19: a better understanding of trade dynamics

By Jose Jaime Diaz Gonzalez de la Campa. Member of IMEF’s Board and Independent Consultant. Republished from IAFEI June 2020 Quarterly bulletin. Mexico has been hit like everyone else by the pandemic. This is not the topic of this article. I will only focus on mentioning that situations not foreseen and not controlled by anyone make us strengthen ourselves as a country. Short ...

4 Surprising Facts About Financial Misreporting Lawsuits

From Forbes: New research finds that audit firms are co-defendants in only 20% of lawsuits alleging financial misreporting, according to a study forthcoming in Contemporary Accounting Research. Company management is responsible for preparing financial statements for investors and other external parties. Auditors are responsible for auditing those financial statements to detect ...

Research reveals a radically different, COVID-influenced CFO role

By Pieter Bensch, Executive Vice-President, Africa & Middle East at Sage As COVID-19 continues to challenge and disrupt the business landscape, CFOs are stepping up and playing a bigger role in digital transformation. In fact, many of them are driving the digital strategy within their businesses – and we have new insights into how they’re achieving this. I spoke about the ...

The rise of the virtual CFO

Mike Powell left audit profession in 2002, and ventured into corporate world at JSE-listed tech company BCX for 18 years. He spent most of that time “trying not to do accounting.” “My idea was always to move out of finance. I wanted to get back into small business because I wanted to work with entrepreneurs.” While so many accountants see their futures at the top of the corpo ...

Life in a remote world - tax enforcement in transfer pricing

By Joon Chong, Partner & Karen Miller, Consultant at Webber Wentzel The unusual business conditions of the Covid-19 outbreak will require a more flexible approach from tax authorities when analysing transfer pricing in the 2020 year of assessment The Covid-19 outbreak in late 2019 / early 2020 has impacted the way we live daily and has had a devastating impact on the glob ...

CFO succession planning: how to prepare

From WSJ: As many boards acquire greater responsibility for risk oversight, the task of selecting CFOs and planning for their succession is gaining more attention in the boardroom. Bryan Proctor, head of the Financial Officer Center of Expertise at Korn Ferry, discusses the market and boardroom dynamics driving greater board involvement in the CFO hiring process, and explains w ...

CFOs expect an economic rebound a year from now

The Q2 Deloitte Signals Survey found that 585 of CFOs see the North American economy rebounding a year from now. As the pandemic continues to cause global economic disparity, experts scramble to forecast economic recovery. While no one can predict with precision what lies ahead for the economy, CFOs’ expectations and actions can be a helpful barometer. On a recent Resilient Po ...

Auditors show resilience during pandemic, CAQ’s Lindsay says

From the Journal of Accountancy: Public company auditors have responded quickly and effectively to the coronavirus pandemic to help preserve the public’s critically important confidence in capital markets. That’s the conclusion drawn by Center for Audit Quality (CAQ) Executive Director Julie Bell Lindsay, who said in a telephone interview that auditors have used technology and ...

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