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financial reporting News

UK Firms' Financial Reporting More Transparent: FRC

by Amanda Banks,, London

Monday, October 30, 2017

Whilst corporate reporting by large listed companies is generally good, detailed explanations and clarity could still be better, according to the Financial Reporting Council's recently released Annual Review of Corporate Reporting. Read Full Story


Australia To Tackle Illegal Phoenixing Activity

by Mary Swire,, Hong Kong

Tuesday, September 12, 2017

The Australian Government has announced a package of reforms to deter and penalize illegal phoenixing activity. Read Full Story


Australia Consults On Beneficial Ownership Reporting Options

by Mary Swire,, Hong Kong

Monday, February 13, 2017

The Australian Government has launched a consultation on how to improve transparency surrounding the beneficial ownership of companies. Read Full Story


Irish FinMin Guides On New Beneficial Ownership Rule

by Jason Gorringe,, London

Monday, February 6, 2017

The Irish Finance Ministry has issued guidance on a new EU anti-money laundering regulation on the reporting of beneficial ownership information. Read Full Story


Canadian Tax Breaks Benefit Wealthy Most, Says Study

by Mike Godfrey,, Washington

Friday, December 9, 2016

Canada's personal income tax expenditures disproportionately benefit the top 50 percent of income earners, according to a new report by the Canadian Centre for Policy Alternatives. Read Full Story


Australia Eases Reporting Burden For Charities

by Mary Swire,, Hong Kong

Monday, October 3, 2016

The Australian Taxation Office has announced that ancillary funds registered as charities will only need to submit their annual return to one government agency. Read Full Story


Greek Tax Revenues Fall Short

by Lorys Charalambous,, Cyprus

Monday, August 22, 2016

Greek tax revenues fell short of their target for July 2016, but tax receipts have been higher than 2015 levels. Read Full Story


US CPAs Comment On Professional Employer Organization Regs

by Mike Godfrey,, Washington

Friday, August 19, 2016

The American Institute of Certified Public Accountants has provided recommendations regarding the proposed regulations to establish the certification of Professional Employer Organizations, in a letter to the US Internal Revenue Service dated August 16. Read Full Story


International Accounting Standards Widely Used: IFRS

by Glen Shapiro,, New York

Thursday, July 28, 2016

The IASB, responsible for International Financial Reporting Standards, and the IFRS Foundation that oversees its work, have estimated that more than 25,000 of the approximately 48,000 domestic listed companies on the 85 major securities exchanges in the world use its accounting standards. Read Full Story


IRS Issues Final Regulations On US CbC Reporting

by Mike Godfrey,, Washington

Friday, July 1, 2016

On June 30, 2016, the Internal Revenue Service issued final regulations in the Federal Register to require annual country-by-country reporting by the ultimate parent entities of US multinational enterprise groups that have annual revenues in their preceding annual accounting periods of USD850m or more. Read Full Story



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