Tag Archives | IFRS
The new revenue standard IFRS 15 was released on 28 May 2014. The publication of this new standard is one of the most significant accounting developments of the decade. It is likely that this standard will affect the way companies account for revenue.
The global financial crisis and European sovereign debt crisis experienced between 2008 and 2011 created the need for more accurate pricing of credit at inception of transactions and the dynamic quantification of credit exposures throughout the life of a trade.
Jason Kazilimani, Senior Partner at KPMG Zambia, was one of our February guests on Lunch with our Leaders. We invited you to ask him any questions you might have on the topic of investing in Zambia, and Jason provided detailed and helpful responses. Here are some of the Q&As from that session …
In our third newsletter in this 1 series , we highlighted some of the key provisions of the Federal Inland Revenue Service (FIRS)’s Circular on the Tax Implications
This week on Lunch with our Leaders (LWOL) Toyin Gbagi, a partner in KPMG’s Consumer Markets Group of the Nigerian Audit Services Division, will be hosting a discussion on ‘Investing in Africa’s Consumer Markets’.
Adoption of the International Financial Reporting Standards (IFRS) by Nigerian companies will attract more foreign investment into the country, Director, Audit Services, KPMG Professional Services, Mr. Willem Haarhoff, has said.
Nigeria’s National Insurance Commission (NAICOM) has said that the country is much more likely to […]
Issued in 2011, IFRS 10 is applicable for annual periods beginning on or after 1 January 2013. The new consolidation standard, IFRS 10 Consolidated Financial Statements (IFRS 10), may impact the accounting of third party cell captive arrangements. We will explore to what extent it will impact the cell insurer.
Nigeria’s insurance industry has witnessed positive changes in recent times, arising from the new reforms embarked upon by the National Insurance Commission (NAICOM), the primary regulator of the Nigerian Insurance Industry. The country’s insurance market is the largest in the West Africa sub-region, however the penetration is currently considered very low when compared with the population of over 165 million people.
The implementation of the new IFRS Consolidation suite has many asking the question: “are we ready?” Effective for annual periods beginning on or after 1 January 2013, The new International Financial Reporting Standards (IFRS) suite consists of: IFRS 10 Consolidated Financial Statements, IFRS 11 Joint Agreements, and IFRS 12 Disclosures of Interest in Other Entities.
A firm challenge has been set for the 450 companies listed on the JSE in June 2010 to publish an integrated report or explain why they cannot do so. South Africa is the first country to mandate integrated reporting for all listed companies. But one full set of integrated reports later and companies still have a long way to go. Many countries have adopted corporate governance guidelines similar to the King 3 codes, though the drafter himself, Mervyn King, would like to see all capital markets go the route of SA. They may not be ready, but an initial, crucial step would be the adoption of voluntary filing programmes.