Andry Tjhie

Our #IFRS Accounting Standards At a Glance publication series has been updated. These summarise all IFRS Accounting Standards in a few pages and includes all IFRS Accounting Standards and amendments issued up to 30 June 2024. We have also included a separate Appendix summarising the two new IFRS Accounting Standards - IFRS 18 Presentation and Disclosure in Financial Statements and IFRS 19 Subsidiaries without Public Accountability: Disclosures. These were issued in May 2024 and are effective for annual reporting periods beginning on or after 1 January 2027.

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The #IASB has today issued narrow amendments to IFRS Accounting Standards and accompanying guidance as part of its regular maintenance of the Standards. These amendments include clarifications, simplifications, corrections and changes aimed at improving the consistency of several IFRS Accounting Standards. 📖Read more: https://lnkd.in/ecD-gJET #IFRSAccounting #AccountingStandards #Accounting  

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BDO has released IFR Bulletin 2024/08 summarising the activities in standard setting by the IASB during the first half of 2024. The Bulletin provides a concise list of standards and amendments that became - or will become - effective during 2024, including IFRS 18 and IFRS 19. It also provides a snapshot of IASB’s standard setting, maintenance and research projects, as well as IFRS Interpretation Committee’s activities, including IFRIC agenda decisions. Read more here: https://lnkd.in/drMpim6r Parag Patadiya, Muhammad Husnain Munawar & Aman Maheshwari #BDO #BDOUAE #IFRSupdates #AccountingStandards

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BDO summarises the requirements of the recent IASB Amendments in its latest report, IFRB 2024/07 IASB issues Amendments to the Classification and Measurement of Financial Instruments. Learn more here: https://ow.ly/HvgB50Svx3R

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ICAEW and the King's Speech: A Focus on Audit Reform The ICAEW (Institute of Chartered Accountants in England and Wales) has been a vocal advocate for audit reform in the UK. The King's Speech, which outlines the government's legislative agenda, has been a key focus for the ICAEW due to its potential impact on the accounting profession. Key Points: 🟢 Disappointment over Audit Reform Omission: The ICAEW expressed significant disappointment when the initial draft of the King's Speech in 2023 did not include an audit and corporate governance reform bill. This omission was seen as a setback in addressing the issues that led to high-profile corporate failures like Carillion. 🟢 Welcome Development: Audit Reform Included: In a positive turn of events, the final version of the King's Speech in 2024 included a commitment to a draft Audit Reform and Corporate Governance Bill. This was met with enthusiasm by the ICAEW and other industry stakeholders. 🟢 Importance of Audit Reform: The ICAEW emphasizes the crucial role of reliable and trusted financial reporting in maintaining investor confidence and supporting economic growth. They believe that the proposed reforms will help to reduce the risk of business failures and contribute to the transition to a net-zero economy. Essentially, the ICAEW sees the King's Speech as a significant opportunity to reshape the audit landscape in the UK and enhance the profession's role in ensuring corporate accountability and financial stability. Would you like to know more about specific aspects of the audit reform proposals or the ICAEW's stance on other issues? Please get in touch to find out more: 📞 01522 275144 📧 [email protected]

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Discover KPMG’s practical guide to #IFRS Accounting Standards: The 21st edition of Insights into IFRS® is out now https://lnkd.in/gZXd96NQ #FinancialReporting

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BDO has released International Sustainability Reporting (ISR) Bulletin 2024/06 30 June 2024 Sustainability Reporting Update, which provides a ‘snapshot’ of sustainability reporting with a focus on the updates related to the International Sustainability Standards Board’s (ISSB) IFRS® Sustainability Disclosure Standards - IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information (IFRS S1) and IFRS S2 Climate-related Disclosures (IFRS S2) - issued on 26 June 2023 and the European Sustainability Reporting Standards (ESRS) adopted by the European Commission on 31 July 2023 as well as other organisations. https://ow.ly/W8nV50SRbeY

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BDO has released illustrative interim IFRS financial statements for the half-year ended 30 June 2024. 📖 This publication is a great resource for anyone who must prepare or review interim financial statements as they reflect amendments to IFRS Accounting Standards and agenda decisions from the IFRS Interpretations Committee. 👉 To download the publication: https://lnkd.in/eCpzwMyy #BDO #IFRS #IAS34 #AccountingStandards

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Reason #101 to join our webinar: It’s packed with insights for audit and accounting firms. The other 100 reasons? You’ll have to attend to find out! Hear from Arjun Varshneya ACCA, our AVP - Audit Operations (and a familiar face here!), as he shares why this is a must-attend event. Spots are limited—secure yours today: https://lnkd.in/dr-tNWGm #webinar #webinaralert #auditfirms #auditexcellence #outsourcing #auditoutsourcing #QXAS #qxglobalgroup #auditstrategy #auditing #auditors

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Get recent insights #EY #GCRS #IFRS as we released the latest Good Group illustrative financial statements. for period ending 31 December 2024. A very helpful tool for the forthcoming financial reporting season. Click below to read or download.

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IFRS 19 Subsidiaries without Public Accountability: Disclosures was published on 9 May 2024. IFRS 19 permits certain entities to apply the full measurement requirements of IFRS Accounting Standards, but with significantly reduced disclosures. BDO's IFR Bulletin includes everything you need to know about IFRS 19, including the criteria that an entity must meet to apply the standard, the effective date and more. https://lnkd.in/dvhxY9tq

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​Tick Talks #80: NFRA Shrugs off ICAI's Audit Concentration Concerns, PCAOB’s New Provision on Engagement Metrics, CARO Reporting, KAMs & More! ​Read the newsletter >> https://buff.ly/3ZdcEPF #Taxsutra #NFRA #ICAI #AuditReforms #PCAOBUpdates #EngagementMetrics #CAROReporting #KeyAuditMatters #CorporateGovernance #AuditingStandards

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The ICAEW’s latest audit monitoring report reveals a shift in complex audits moving from larger to smaller firms, which is presenting challenges but also opportunities. Smaller firms are scaling their risk management and quality processes rapidly to meet these demands. Despite market shifts, overall audit quality remains consistent, with 71% of audits rated as good or acceptable. However, this figure lags behind pre-pandemic levels. The report also highlights key challenges like audit team structure and implementing new standards like ISQM1 https://lnkd.in/gBSFiE2Z

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Tick Talks#50: Is ICAI DC order on EY Retrograde?, EAC Opinion, PCAOB Inspection Guide on Audit Quality, KAM Trends & More! Read the newsletter here >> https://buff.ly/3ULzOvP #Taxsutragreentick #TickTalk50 #ICAI #EY #DCOrder #AuditQuality #PCAOB #KAM #Trends #TickTalks #AccountingInsights #EACOpinion #ProfessionalStandards KNAV US

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IFRS 19 Subsidiaries without Public Accountability: Disclosures was published on 9 May 2024. IFRS 19 permits certain entities to apply the full measurement requirements of IFRS Accounting Standards, but with significantly reduced disclosures. BDO's IFR Bulletin includes everything you need to know about IFRS 19, including the criteria that an entity must meet to apply the standard, the effective date and more.

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Discover KPMG's practical guide to #IFRS Accounting Standards: The 21st edition of Insights into IFRS® is out now https://lnkd.in/g8ARAzT7

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At the CIIA Scotland Conference 2024, we are currently hearing how Gen AI can support the administrative processes involved in internal audit reviews….what are your thoughts on the use of AI in audit?

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