Avinash Ramkumar

KPMG Warrants Accounting Presentation Deck - July 16, 2024 Webcast #kpmg #warrantsaccounting #derivatives #technicalaccounting #financialreporting #secreporting #usgaap #ASC815 #ASC480 Thanks very much to KPMG presenting team: Mahesh Narayanasami, Michael DiMarco, CPA, meaghan Wrona! Agenda for the presentation: 1. Applicable Accounting Standards 2. Accounting and classification 2.1. ASC 480 considerations 2.2. ASC 815 considerations 2.3. Common terms to evaluate under Step 2 3. Practical complexities 4. Other accounting considerations

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Turkey has enacted Pillar Two rules. India has proposed a reduction in the tax rate on nonresidents and abolition of the equalization levy. Peru’s tax authorities have issued a ruling that results in an interpretation that may be at odds with a literal reading of the rules. And the UAE tax authorities have released a guide on the application of the corporate tax law to free zone persons. Read about these—and various Pillar Two updates—in the August Corporate Tax News!

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In the Company Auditor Series - Version 2.0, sharing the 5th Chapter of the series -‘Removal & Resignation of Auditors’ which is available at https://lnkd.in/gqEBDMFw This chapter itself contains links to the older chapters too. #auditors #removal #resignation

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Join us on October 5, 2024, for the Independent Directors' Conclave, "Shaping the Future for Effective Corporate Governance." This premier event will explore the critical roles and responsibilities of independent directors, featuring insights from industry leaders and experts. Enhance your understanding of governance, corporate social responsibility, and more! For more details refer attached flyer. #CorporateGovernance #ICAI #IndependentDirectorsConclave

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Following auditor guidance can help companies refine Sarbanes-Oxley Act (SOX) Section 404 programs to navigate risks, streamline operations, and more. Attend our webcast on May 2nd to learn more.

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For an overview of FASB standard setting activity in 3Q 2024, download this white paper from Forvis Mazars US: https://lnkd.in/guCjFSKe

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At #KAP TNN, we are dedicated to transforming the audit landscape by leveraging cutting-edge technology. Our mission is to empower our clients with innovative solutions that streamline and automate their processes, ensuring efficiency, accuracy, and compliance. As a testament to our commitment, we are developing automation for smart contract audits today. ✅Our expert auditor, Laura has conducted an in-depth audit on the PAPI smart contract (an ERC-20 token implementation with added functionality). 🔍Her deep analysis revealed four potential issues that needed immediate attention in order to improve contract’s robustness. These included: 1️⃣ A medium severity issue around missing `SafeMath` usage that could result in arithmetic operation failures due to lack of safety provisions. 2️⃣ A high severity issue as `_transfer` function exhibited potential vulnerability to reentrancy attacks. 3️⃣ A medium severity issue with usage of inline assembly, impacting the code’s readability and auditability. 4️⃣ A low severity issue around unchecked results of external calls that may cause unchecked failures. Laura further recommended the use of automated audit tools like Mythril and Echidna for a more comprehensive security analysis. In conclusion, while the PAPI smart contract aligns well with intended design and functionality, there are several improvements that the development team need to consider to ensure its security and robustness. Staying true to our commitment of transforming the audit landscape, we believe in empowering all stakeholders with such crucial contract audit information. ✔️ Stay tuned for more such updates. For the full report, visit 👉 https://buff.ly/4cib97R

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$4bn is a big bill. Our experience is that the Indian #tax authorities are increasingly raising assessments first and asking questions later. GST and withholding #taxes are often the bone of contention. Crowe UK Crowe Global Indian IT outsourcer Infosys hit with $4bn tax demand - https://on.ft.com/3SupCGp via @FT

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#FASB Accounting Standards Update #2023-07 on #segments is fast approaching December 31, 2024 adoption date for most calendar year end registrants #10K's. We recently updated our #headsup by adding appendix B for recent discussions with the #SEC staff. #deloitte https://lnkd.in/euefhFnY

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It is here. #ASU2024-03 or commonly referred to #DISE. Effective for 2027 10-K US GAAP calendar year ends with prospective adoption allowed. Take a read through our headsup with a very valuable appendix B for anyone who has inventory under asc 330 contrasting the two methods. However don’t be fooled by the date of adoption. Start making changes to your controls and or identifying gaps in your mapping and financial reporting systems to be able to report on these detailed dissagregation of your income statement. #FASB #10k #10Q #inventory #employeecompensation #deloitte. https://lnkd.in/eUTn8Bvk

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Both #PCAOB and AICPA have the same minimum requirements for understanding the design and implementation of controls and yet, most AICPA #auditors never receive in-depth ICFR training. Read more on our #JGAAdvisor blog! https://ow.ly/7gWr50SLRH3

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In this #GMSFlashAlert, #KPMG Argentina reports on the major tax reform package allowing taxpayers considered Argentina tax residents as of Dec. 31, 2023, and nonresidents who've ever been considered tax residents in Argentina, to avail of the tax amnesty. https://bit.ly/464Rw1l

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Are you ready to comply with ASU 2023-07 on segment disclosures? Read our updated guidance about these enhanced requirements in this recent Heads Up!

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The global accounting profession is at a pivotal moment, with the talent gap driving firms to rethink their strategies. In India, the increasing number of professionals pursuing US CPA, EA, and similar certifications highlights a promising solution to this challenge. These skilled candidates, coupled with our 𝐜𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐨𝐟𝐟𝐬𝐡𝐨𝐫𝐢𝐧𝐠 𝐬𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬, can revolutionize how firms bridge generational gaps, embrace innovation, and secure sustainable growth. At MNCO Global, we help firms: ✔️ Tap into a growing pool of globally certified talent. ✔️ Leverage cost-effective, technology-enabled offshoring. ✔️ Create a dynamic work environment that attracts and retains young professionals. By aligning with our solutions, accounting firms can drive operational efficiency, empower rising talent, and stay ahead of the curve. 𝑳𝒆𝒕’𝒔 𝒄𝒐𝒍𝒍𝒂𝒃𝒐𝒓𝒂𝒕𝒆 𝒕𝒐 𝒃𝒖𝒊𝒍𝒅 𝒂 𝒇𝒖𝒕𝒖𝒓𝒆-𝒓𝒆𝒂𝒅𝒚 𝒘𝒐𝒓𝒌𝒇𝒐𝒓𝒄𝒆 𝒇𝒐𝒓 𝒚𝒐𝒖𝒓 𝒇𝒊𝒓𝒎! 𝑪𝒐𝒏𝒕𝒂𝒄𝒕 𝒖𝒔 𝒕𝒐𝒅𝒂𝒚. #OffshoringSolutions #USCPA #IndianTalent #AccountingInnovation #FutureOfWork #BridgingTheGap #CPAOffshoring #TalentShortage #GenZWorkforce #MNCOGlobal #GlobalAccounting

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Identifying a variable interest entity (VIE) model in ASC 810 can be complex. BDO’s blueprint guides you through the process with step-by-step instructions and examples. #Accounting #FASB https://bdo-usa.co/3Y9cGcG

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Whether you are 6 to 9 months or 2 to 3 year out from an IPO, this webinar is going to be jam packed full of great advice from a group of people who have "been there, done that".

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At @KAP Tambunan & Nasafi, we harness innovative technology to revolutionize the audit landscape. Today's smart contract audit summary demonstrates our commitment to provide clients with solutions that streamline processes and ensure compliance, accuracy, and efficiency. Today’s example focuses on the BitZeit smart contract. BitZeit is an ERC20 token implementation 🧮 with additional functionality. This smart contract employs standard ERC20 functions and unique features like the `renounceOwnership()`. However, during our analysis, we identified a few areas of concern: 🔹An unused `IUniswapV2Factory` interface - we recommend removing this to reduce unnecessary code. 🔹Embedded Magic Numbers - we suggest defining these constants with descriptive names for ease of understanding and maintenance. 🔹Complex and Obfuscated Code - this could be simplified or complemented with additional documentation to clarify its functionality. 🔹Ownership Renouncing - this leaves the contract without an owner, presenting potential risks. Implementing a mechanism ensuring critical functions aren't dependent on ownership or a method to transfer ownership securely was advised. Our detailed procedures 👩‍💻 ensure all aspects of the contract get evaluated, from security risks to inefficiencies. These procedures, coupled with additional measures like automated tools, formal verification, and rigorous testing, provide a robust audit scenario. Please note, while our analyses provide snapshots of the smart contract's security during the assessment, ongoing security monitoring is essential. For a full report, head over to our CODDE website: https://buff.ly/4cib97R.

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