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The Benefits of Uniform Entity Identification

01 Oct, 2018  Posted By Guru Raj Singh   Posted in SEC
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In September 2018, a joint report was issued by the Global Legal Entity Identifier Foundation (GLEIF) and the Data Foundation. Among other things, the report considered how Legal Entity Identifier (LEI) adoption across US federal agencies “could streamline entity identification … Continue reading

 

Making Tax Digital and the Agent Services Account

28 Sep, 2018  Posted By Shabeer   Posted in MTD
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There has been a lot of focus on how individuals and businesses can get ready for Making Tax Digital, but how do agents get involved in the process? What is an agent services account? If tax agents wish to access … Continue reading

 

The Federal Data Strategy: An Overview

27 Sep, 2018  Posted By Guru Raj Singh   Posted in xbrl
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The digital age is no longer a futuristic world, nor is it considered to have reached its tipping point. In fact, it is the contrast and its expansion and evolution will indeed continue to gain pace. As a result of … Continue reading

 

XBRL awareness required: Does your company need to file AFS in iXBRL with CIPC?

21 Sep, 2018  Posted By Shabeer   Posted in xbrl
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From 1 July 2018, CIPC (Companies and Intellectual Property Commission) mandated that all qualifying entities in South Africa must submit their Annual Financial Statements (AFS) in iXBRL with their annual returns. Yet, many companies are still unaware of the mandate. … Continue reading

 

Missed your Corporation Tax filing deadline with HMRC? You can still avoid late filing penalties

21 Sep, 2018  Posted By Shabeer   Posted in iXBRL
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Have you been issued a penalty notice from HMRC for not filing your corporate tax returns? Worry not. You may still be exempt from late filing penalties if you are victim to a valid, excusable reason. In the UK, companies … Continue reading

 

The European Single Electronic Format (ESEF) – What You Should Know

18 Sep, 2018  Posted By Karthik Sathuragiri   Posted in xbrl
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From 1 January 2020, issuers with listed securities in EU regulated markets will be required to prepare annual financial reports (AFRs) in line with the European Single Electronic Format (ESEF). These changes will impact thousands of companies across the EU … Continue reading

 

IFRS Foundation releases educational modules for the IFRS – SMEs Standard

12 Sep, 2018  Posted By Guru Raj Singh   Posted in IFRS
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In August 2018, the IFRS Foundation released an additional seven educational modules in respect of the 2015 version of the IFRS for SMEs Standard. These modules aim to assist anyone who wants to prepare, use, or understand financial statements that … Continue reading

 

The United States and Data Standardization – The Long Road Ahead

06 Sep, 2018  Posted By Guru Raj Singh   Posted in xbrl
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Data standardization has often been trumped as the gold standard for financial reporting – and justifiably so. Not only can it help ensure greater transparency and comparability between the financial performance and position of companies or local government bodies, but … Continue reading

 

Making Tax Digital for VAT Notice Released by HMRC

28 Aug, 2018  Posted By Karthik Sathuragiri   Posted in MTD
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On 13 July 2018 HMRC released VAT Notice 700/22: Making Tax Digital for VAT. As the scheme is only months away from its scheduled launch date, businesses and accounting firms alike will likely welcome the additional clarification that this release … Continue reading

 

The growing importance of data analytics for the SEC

23 Aug, 2018  Posted By Guru Raj Singh   Posted in xbrl
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On 25 June 2018, the U.S. Securities and Exchange Commission (SEC) published its draft strategic plan for fiscal years 2018 – 2022. Although comments for the draft closed on 25 July 2018, the draft provides ample insight into the SEC’s … Continue reading

 

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