Gerard Kuus

This week the Global Accounting Alliance Board Meeting took place in Hong Kong. The GAA collaborated on several emerging issues, discussed opportunities and challenges, addressed how Private Equity and AI are shaping our profession, and emphasized the value of global collaboration across working groups. My key take aways: 🔸 The GAA has a strategic role to play in relation to international Standard Setting impacting our members 🔸 The Financial Secretary of the Government of the KKSAR, Paul Chan Mo-po, the Chairman of the Hong Kong Exhanges and Clearing, Carlson Tong, and the Director of AI Applications at Hong Kong Cyberport, Dr. Crystal Fok, gave us some interesting insights about the economic situation and key recent developments in the region. Sustainability remains important in Hong Kong but in a pragamatic way. The Hong Kong Exchanges connect China with global investment, and the accountancy profession has an important role, also in consulting. 🔸 AI Regulation around the world differs and could influence the future development; the younger Generation trusts AI more and the profession has a role to play, especially in exercising professional skepticism to AI generated outputs 🔸 Professional accountants provide comfort, which is what the market needs It was inspiring to discuss significant issues with representatives of leading accounting bodies from around the world to advance our shared goals. Thank you all! Mark Koziel CPA, CGMA, Ainslie van Onselen, Rosemary Keogh, Pamela Steer, FCA, FCPA, CFA, Jim Knafo, Bruce Cartwright CA, Hisashi Sato, Patricia Stock CA(SA), Alan Vallance, Margaret Chan

66

1 commentaar

For over a decade, we have had the privilege of hearing directly from leaders around the world through our annual CEO Outlook survey on the challenges and opportunities that are defining their priorities today. This year marks our 11th edition and we have seen a clear shift in mood - confidence in the global economy has dipped to a four-year low. Yet what stands out here is not the uncertainty – it is the determination. CEOs remain optimistic about their own organizations, and nearly all are planning to invest in talent and capabilities alongside AI. This shift is reshaping what it means to lead. As CEOs place greater focus on #AI and #talent, qualities like agility, transparency, and a willingness to rethink strategy are becoming essential – and the leaders who thrive will be those who turn disruption into #opportunity. Read the full 2025 CEO Outlook for more information: https://lnkd.in/gVkwaAzP

730

9 commentaren

🔍 Demystifying Tax Compliance: A Strategic Framework for Practitioners and Policymakers In today’s evolving regulatory landscape, understanding the interplay between Tax Audit, Tax Investigation, and Transfer Pricing Audit is no longer optional—it’s essential. In my more than a decade experience in this space, I have and still encounter taxpayers / tax consultants asking; “I recently had a team of Tax Auditors or Investigators audit me, so why should I be subjected to another TP audit? ?” I’ve developed a conceptual framework that breaks down the scope, interrelationship, and treatment of prior assessments across these three pillars of tax enforcement. Whether you’re a tax professional, regulator, or corporate executive, this visual offers clarity on how these processes converge and diverge in practice. 📌 Key Highlights: • Tax Audit: Routine, risk-based, and administrative in nature. • Tax Investigation: Forensic, intensive, and often legal. • Transfer Pricing Audit: Technical, documentation-driven, and globally aligned. 🧠 Prior assessments are not always final. Tax authorities may revisit, override, or escalate findings based on new evidence or evolving risk profiles. This framework helps you anticipate those moves and prepare strategically. 💼 Designed for professionals who value precision, foresight, and compliance integrity. 📣 Call to Action: If you’re part of a corporate tax team, use this framework to strengthen your internal controls and anticipate regulatory scrutiny before it escalates. If you’re a regulator or policy advisor, consider how this model can support risk-based enforcement and improve audit targeting. Let’s elevate the conversation around tax governance. Feel free to share, comment, or connect if this resonates with your work. © Paulinus I. Iyika, PhD™️ #TaxAudit #TransferPricing #TaxInvestigation #TaxCompliance #Governance #RiskManagement #LinkedInLearning #PaulinusIyikaPhD

55

Information Systems Audit Standards: A Strategic Leap for the Profession As technology reshapes the core of business, the audit profession must evolve to keep pace. Chartered Accountants today are not only financial experts but also stewards of digital trust and governance. To support this transformation, ICAI is introducing Information Systems Audit Standards—a vital step toward strengthening the audit process in India’s digital ecosystem. These standards will: ·        Equip members to address IT risks and cybersecurity threats ·        Enhance audit quality and consistency in digital environments ·        Support compliance with emerging data protection laws ·        Expand professional capabilities in system audits, IT governance, and digital advisory ·        Align our practices with global benchmarks like ISO 27001, COBIT, and NIST “These standards are not optional—they are strategic enablers. They ensure that Chartered Accountants remain trusted, relevant, and future-ready in a digital-first economy.” With this initiative, ICAI reaffirms its commitment to empowering members and strengthening public trust in the profession. #ICAI #ISAuditStandards #PresidentICAI #DigitalAudit #FutureReadyCA #ICAIInitiative #AuditExcellence #CyberSecurity #Governance #DigitalIndia

51

6 commentaren

The Summer Economic Statement, the National Development Plan (NDP), Tax Strategy Group Papers, and the European Central Bank's interest rate decision… it shaped up to be a busy week!   Kate English, our Deloitte Chief Economist, and I caught some of Christine Lagarde's press conference discussing the decision to hold interest rates steady. While inflation has come down to the ECB's target of 2%, there's little we can presume is set in stone in the months ahead.   It's why the Summer Economic Statement and NDP are more crucial than ever. It's difficult to predict what will happen but we do know that increasing resiliency and driving competitiveness will help us weather stormy times.   To achieve this, we need to invest, and Ireland is lucky in that we are in a position to do that. It's where our tax rules and base are crucial as a strategic lever that can help us drive Domestic Direct Investment (DDI), retain FDI, and keep Ireland a place people want to live, work and innovate.   #Budget2026 #SummerEconomicStatement #ScalingSmarter #DeloitteIreland #InterestRates

75

In this edition of BDO's Global Indirect Tax News, tariff and trade issues continue to dominate, with policy and rate changes reshaping trade relationships. The 10% universal tariff imposed by the US that has applied since early April while countries negotiate trade deals with the US will soon end despite the fact that the promised “90 deals in 90 days” have not been secured. The 90-day pause on the US administration's “reciprocal” tariffs expired 9 July with the administration revealing a revised start date of 1 August for new tariff rates. Read on for the latest updates on these issues as well as other sales tax matters impacting your multi-national business. Kamal Kataria; Susan M. Lyons; Klaus Kalsmose Jakobsen; Philip Nolan; David Hirsch; Annette Pogodda-Grünwald; Sylvia Moser; Reinhard Rindler; Steven C. Thompson; Angela Acosta; Rachel Gervais, CPA, CA; Charmaine Goddeeris, CCS; Chin Sien Eu; Fady Abi Abdallah; Pascal Dauw; Matthew Paul Clark; Matthew Wills https://lnkd.in/gergq6pV

36

1 commentaar

In recent discussions, many have asked: are IFRS 9 overlays and CRR 3 Margins of Conservatism really two versions of the same thing? At first glance, they look similar, both adjust model outputs when uncertainty is high. But look closer, and you see fundamental differences: overlays correct towards an unbiased central estimate, while MoCs enforce prudence by design; overlays can be temporary and even downward, whereas MoCs are one sided and hard to remove. Here’s my two cents on the “Two Faces of Prudence: Why IFRS 9 Overlays and CRR III MoCs Are Similar, Different – and Often Misunderstood”

42

3 commentaren