Raymond Abrea’s Post

The Senate released an interim report expressing concerns about PwC's ability to restore its reputation following a tax leaks scandal. Whilst they currently acknowledge the need for change, the committee doubts the extent of substantive change. There are questions about the involvement of PwC partners in the scandal, both in Australia and internationally. The committee stresses the importance of transparency and genuine efforts from PwC to address the issues, stating that the cover-up worsens the crime and will likely erode the possibility of reputation recovery. #PwC #taxleaks #SenateReport #governance #reputation #scandal #leadership #accountability #corporate #ethics

#TaxmannAnalysis #CharteredAccountancy Ethics form the foundation of chartered accountancy, guiding professionals to act with integrity, impartiality, and accountability. Established by the Chartered Accountants Act, 1949, these standards uphold public trust by promoting the responsible and transparent handling of sensitive financial information. They also help prevent conflicts of interest and ensure confidentiality, strengthening the profession's reputation while reducing legal and reputational risks. This article examines the significance of these ethical standards and the repercussions of failing to adhere to them. Download/Read More: https://lnkd.in/gKQ8ZXvW [5 Mins | Read Time] Drafted by Taxmann's Advisory and Research Team #TaxmannUpdates #TaxmannAdvisory #EthicalStandards #CharteredAccountantsAct #NonCompliance

Great Read: https://lnkd.in/esrKKrTH CPA Ontario's discipline hearings involving Deloitte partners shed light on the complexities and challenges faced in auditing practices while the Bondfield scandal underscored the importance of transparency and accountability in financial oversight. Will regulatory changes bring more transparency to such cases? #Accounting #Audit #Transparency #Regulation

More than half of smaller U.K. auditing firms are "falling short" in the provision of consistent levels of standards of quality, transparency and accountability. https://lnkd.in/e5TBFCG8

President Higgins signed the Companies (Corporate Governance, Enforcement and Regulatory Provisions) Bill 2024 into Irish law on 12 November last. In the article at the link below from my Chartered Accountants Ireland Professional Accounting colleague Lilian Halpin, the key provisions of this new Act most likely to be of interest to accountants are discussed, as well as their current status, with many of these changes commenced earlier this week on 3 December, but some more have yet to be commenced. https://lnkd.in/e6PAF_yq #charteredaccountants #ireland #companylaw #audit #insolvency #regulations

Upholding Integrity in Accounting: A Call to Action. As accounting professionals, we hold a sacred trust. Our integrity is the foundation of our profession, and it's our responsibility to uphold the highest standards of ethics and transparency. When we compromise our values, we risk losing our independence, autonomy, and moral authority. Let's stand together in promoting a culture of: - Integrity - Accountability - Transparency By staying true to our principles, we protect our reputation, our organization's, and the profession's. Integrity is non-negotiable – it's the unwritten contract with the public trust. Let's reaffirm our commitment to ethical accounting practices and preserve the trust placed in us. Join the conversation: Share your thoughts on the importance of integrity in accounting. Let's inspire a culture of ethics and transparency in our profession. #AccountingIntegrity #EthicsMatter #ProfessionalStandards #Transparency #Accountability #CodeofConduct

Integrity is non-negotiable. Report unethical behavior and contribute to a culture of transparency and accountability in the accounting profession. Your actions make a difference. #BICAEthics #ReportEthicsViolation #AccountabilityMatters

🌟 Exciting Announcement 🌟 📢 Attention professionals and legal experts! 📢 An important update that will impact the legal and financial landscape is on the horizon. The Amendment to Section 37: Disallowance of Settlement Amounts for Legal Contraventions, effective from April 2025, brings significant changes to the way settlement amounts for legal contraventions are handled. This amendment aims to bring more transparency and accountability to the legal and financial sectors by disallowing the tax deductibility of settlement payments related to legal contraventions. This change will undoubtedly have far-reaching implications for businesses and legal practices. 🔍 What does this mean for you? - Increased scrutiny on settlement payments and their tax implications - Greater importance of compliant and ethical business practices - Potential impact on financial planning and risk management strategies As legal and financial professionals, it's crucial to stay informed about these regulatory changes and their potential effects on our respective industries. Let's engage in discussions and collaborate to navigate these changes effectively. #legalupdate #taximplications #businessethics #compliance #regulatorychanges #financialplanning #riskmanagement #amendmenttoSection37 #legalcontraventions Let's equip ourselves with the knowledge and insights needed to adapt to these changes and continue driving positive and ethical practices in our professional endeavors. The future of legal and financial landscape is evolving, and together, we can ensure we are well-prepared for the changes ahead. Stay informed. Stay proactive. Let's embrace this new era of regulatory compliance and ethical business conduct. 💼💡 #professionaldevelopment #regulatorycompliance #ethicalbusiness #knowledgeispower #legalindustry #financialsector #collaboration #changemanagement Note: AI-powered post. May contain errors.

Ongoing CPE Session 🎙️ Kevin Vassallo is currently taking participants through an overview of the Standard and its history and will later be delving into the objective, scope and what he describes as the ‘bread and butter’ of the Standard: the recognition and measurement at and after recognition; and finally, the disclosure requirements of the Standard. 🏦 Participants will also be taken through the practical aspect of the Standard, by giving practical and illustrative examples. #MIA #CPEs #Core #Professional #Finance #Tax #AML #Audit #Assurance #Digital #Employment #Ethics #FinancialReporting #Reporting #Legal #Law #Management #Skills #Softskills #Regulatory #Sustainability #Taxation

🚨 BOI Filing Update! 👀 Big news! A federal court has temporarily blocked the Corporate Transparency Act (CTA), meaning businesses no longer have to meet the January 1, 2025, deadline to report beneficial ownership information. 🛑 While this provides some breathing room, it’s crucial to remember that this is only a temporary hold, and the situation could change depending on the final ruling. ⚖️ What does this mean for you? While the pressure to file is off—for now—this delay doesn’t mean the rules are gone for good. The court’s decision could be overturned or modified, and new deadlines could be set. Staying informed is your best strategy to avoid surprises when the final decision comes down. 💡 Key Takeaway: Compliance may be paused, but being prepared is always in style. Keep your business’s ownership records organized and stay ready to act when regulations change. 📅 Stay Ahead with DNC! We’re here to keep you up-to-date on all the latest compliance news, so you’re never left in the dark. Your business’s success depends on staying informed, and we’ve got the insights and resources you need to navigate any changes with ease. Follow us to stay prepared and ahead of the curve! 🔑 #BeneficialOwnership #CTA #BusinessCompliance #stayinformed #ComplianceMatters #IRS #legalupdates #BusinessTips #StayAhead #BusinessSuccess #TaxCompliance #FederalCourt #businessowners #ReadyForAnything #RegulatoryCompliance #BusinessPreparedness #FollowForUpdates #BusinessNews #taxcoach #taxprofessional #conyersga #Georgia #ConsultationAvailable #blackownedbusiness