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Sustainability Information for Small Businesses: The Opportunity for Practitioners

On 18 November IFAC released on line this publication on opportunities of sustainability Information fin SME's for small accountancy Practices. This report examines the importance of readily available, relevant, and reliable sustainability information for achieving better-informed decisions, enhanced strategic and risk management, and more thorough and valuable reporting to external stakeholders. It also highlights a range of emerging services that practitioners can provide to their...
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OECD - Fighting Tax Crime – The Ten Global Principles, Second Edition

​First published in 2017, Fighting Tax Crime - The Ten Global Principles is the first comprehensive guide to fighting tax crimes. It sets out ten essential principles covering the legal, institutional, administrative, and operational aspects necessary for developing an efficient and effective system for identifying, investigating and prosecuting tax crimes, while respecting the rights of accused taxpayers. This second edition addresses new challenges, such as...
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G20 summit : new rules for a more stable and fairer international tax system ...

G20 leaders met for a two-day summit hosted by the Italian G20 presidency in Rome on 30 and 31 October 2021. At the end of two days of working sessions and side events, the G20 Leaders adopted the G20 Rome Leaders Declaration. This document is the final outcome of an intense year of negotiations and events organized in the framework of the Italian G20 Presidency.Main...
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Votre entreprise a un site web ou une page Facebook ?

Quelles sont alors les informations qui doivent alors obligatoirement y figurer ? De nos jours, les entreprises ne peuvent plus se passer d’un site web ou d’une page Facebook pour permettre aux consommateurs, aux fournisseurs ou aux autorités de les retrouver sur la toile. De nombreuses entreprises ne savent cependant pas que leur site doit mentionner une série d’informations obligatoires, même si elles ne...
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A ground-breaking tax deal for the digital age

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Bootsing trust in AI crucial for the financial sector

Developing and deploying trustworthy artificial intelligence (AI) in the financial sector is crucial. Governments, financial regulators and businesses must work together to accelerate the pace, according to a new OECD report The OECD Business and Finance Outlook 2021 says that investment in AI finance is on the rise. The financial and insurance sector has consistently been within the top 10 industries in terms of...
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Tax administrations continue to accelerate their digital transformation ...

Tax administrations are investing significant resources in the development of e-services and digital solutions and are embracing opportunities for fast tracking digital transformation to improve their services, reduce burdens, and improve tax compliance, according to a new OECD report. This ninth edition of the OECD's Tax Administration Series provides internationally comparative data on aspects of tax systems and their administration in 59 advanced and emerging...
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Corporate Reporting: Climate Change Information and the 2021 Reporting Cycle - A Statement from the International Federation of Accountants - 7 september 2021

Significant global attention on how business and capital markets are responding to the climate crisis, including increasing regulatory and investor scrutiny, challenges professional accountants—in business and in professional practice—to play an active role in determining the way climate change information is reported in the upcoming 2021 reporting cycle and is enhanced in future years. Although financial reporting standards have not changed, investors and other stakeholders...
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EFAA Issues Call to Action: SMPs Supporting Creation of the Sustainable Economy

EFAA believes that sustainability presents an opportunity and challenge to SMPs. Accordingly we have issued a Call to Action: SMPs Supporting Creation of the Sustainable Economy in which we stress the opportunities – to prepare sustainability reports, to provide assurance on such reports and to advise SMEs on their transition to a sustainable business model – as well as the challenges of building the capacity...
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New OECD data highlights the importance of the international tax reform discussions

New data, released on 27/07/2021 underlines the importance of the two-pillar plan being advanced by over 130 members of the OECD/G20 Inclusive Framework on BEPS to reform international taxation rules and ensure that multinational enterprises pay a fair share of tax wherever they operate. Working with over 100 countries, the OECD is a global policy forum that promotes policies to improve the economic and social...
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A corrupting influence: the infiltration and undermining of Europe's economy and society by organised crime

The EU SOCTA 2021 is the outcome of a detailed analysis of the threat of serious and organised crime facing the EU, providing information for practitioners, decision-makers and the wider public. As a threat assessment, the SOCTA is a forward-looking document that assesses shifts in the serious and organised crime landscape. The SOCTA 2021 sets out current and anticipated developments across the spectrum of serious and...
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Guidance on Proliferation Financing Risk Assessment and Mitigation

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Accountants – REACT now and help SMEs adapt to new VAT e-commerce rules

The changes to the EU e-commerce rules will take effect from 1 July 2021. This factsheet provides a high-level summary of the main changes and how accountants can support their SME clients. Time is of the essence. The rule changes will greatly affect SMEs active in e-commerce. Accountants should research the changes as soon as possible to be able to inform and support their clients. We...
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Purpose, people, profitability, and the planet must be considered in the evaluation of business success.

At its March 2021 virtual meeting, IFAC’s Professional Accountants in Business Advisory Group considered the key global trends impacting the future readiness of the accountancy profession. The report, Enabling Purpose Driven Organizations, summarizes the key insights and learnings from the discussions amongst this global group of business and finance leaders, drawing from their diverse experiences and expertise. The accountant’s role in value creation, sustainability, and...
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« Future oil supply : What are the risks for Europe ? » : The Shift Project's new report on peak oil

The Shift Project publishes this Thursday, May 27, 2021, a deep-dive study on the potential risks weighing on Europe’s oil supplies – a question that has remained remarkably absent from the EU’s energy and climate policy while it is about to present a set of measures to reach its objective of 55% reduction in GHG by 2030. Download the summary of the report (30p.) ...
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For tax and customs professionals across the EU ...

This European Commission’s new Learning Portal offers opportunities for customs and tax professionals to build, upscale or share profession-relevant knowledge and expertise through initiatives ranging from educational online learning to the organisation and hosting of multiple learning events in online and presence formats. Based on sharing of best practice, cross-country collaboration and tailored learning, this interactive training opportunity supports continuous skills & knowledge building for...
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From NFRD to CSRD ...

On 21 April 2021, the Commission adopted a proposal for a Corporate Sustainability Reporting Directive (CSRD), which would amend the existing reporting requirements of the NFRD (Non-Financial Reporting Directive, 2014) Aims The proposal extends the scope to all large companies and all companies listed on regulated markets (except listed micro-enterprises) requires the audit (assurance) of reported information introduces more detailed reporting requirements, and...