Stepstones

After having taken some big steps, a beautiful journey lies ahead

By Roland Ogink, deJong & Laan

People take steps with a goal in mind. They want to get somewhere; reach a point on the horizon. The same applies to us. Sometimes, we move towards our goal in a straight line, while at other times, the road bends or has side paths. Straight ahead with a bend every now and again. The point on the horizon is clear to us; to become the best audit practice for SMEs!

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Thailand moves towards CRS compliance

By Paul Gambles, MBMG Group

On 26 January 2017, Thailand took a step towards compliance with the Common Reporting Standard, an international system for different tax authorities to exchange information. After several years of delay, the Kingdom joined the Global Forum on Transparency and Exchange of Information for Tax Purposes, becoming its 139th member.

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Nürnberg

IASB Modernises the Concept of Materiality: What is New?

By Dr Thomas Geiger, Munkert & Partner

In October 2018, the International Accounting Standards Board (IASB) issued amendments to IAS 1 and IAS 8 in the context of applying IFRS. The amendments clarify the definition of “material” and how it should be applied. More definition guidance is provided, and the accompanying explanations have been improved. Finally, the amendments ensure that the definition of “material” is consistent throughout all IFRS pronouncements. The changes are effective for periods beginning on or after January 2020, although earlier application is permitted.

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data security

GDPR

By Tom Murray, Friel Stafford Chartered Accountants

Whilst many businesses started their preparation for the EU General Data Protection Regulation (GDPR) some time ago, many insolvency practitioners are now just starting to wake up to the implications caused by GDPR and are beginning to appreciate how they will have to change many of their protocols and procedures.

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GGI Geneva Group
International AG

Schaffhauserstrasse 550
P.O. Box 286
8052 Zurich
Switzerland

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