Many securities firms are still using manual processes to transmit data used by fund custodians, managers and fund service institutions for valuation and accounting purposes.
July 26, 2022The review period will be limited to one year in principle, with the possibility of a six-month extension, to prevent accounting reviews from being prolonged.
June 13, 2022An agreement could not be reached about a requirement for US accountants to have one year of local experience to practise in Hong Kong.
May 30, 2022Inspections will assess whether accounting firms have adequate information security and systems for screening audit work papers for "secrets".
May 18, 2022Crypto industry participants as well as ISDA are calling for the FASB to allow digital assets to be recorded on financial statements at fair value.
May 17, 2022New OFAC designations; US and UK bans on Russian access to professional services; New trade restrictions, vessel designations
May 9, 2022The FSS will examine 180 companies and 17 audit firms this year, while also enhancing its audit screening exercises and strengthening punitive sanctions.
March 31, 2022Listed companies are asked to improve the effectiveness of their financial reporting controls and the quality of their accounting information.
March 28, 2022The interim standard will come into force on 1 January 2023. The RBNZ is also consulting on the penalties and enforcement tools it has available for supervising insurers.
March 11, 2022The FRC will extend the scope of its oversight to all practicing auditors and accountants, instead of just those servicing listed companies.
March 10, 2022