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Preparers of financial statements are now having to think about how, where and what form they should report COVID-19 in their financial statements. We believe it is important to not only comply with the guidance set out in IFRS, but also ensure the financial statements are an effective part of the wider communication with stakeholders.

Drawing on the TP issues raised by our clients from around the world, our TP experts highlight the dilemmas your business could face in determining arm’s length transfer prices, the ramifications and potential risks. We conclude by setting out six practical ways to navigate through the TP minefield.

Prakas on the obligation of having financial statement independently audited

Professional services as an industry needs to turn the Software-as-a-Service (SaaS) model on its head in order to overcome the current COVID-driven climate, and to finally veer away from the rigid hourly model that has engulfed the sector for so long.

Tax alert No.002 MEF.GDT

Put cash management and forecasting at the centre of your resilience plan, optimising your agility and helping you react to rapid change.

The business and operations of many entities have already been seriously affected by the rapid global spread of COVID-19 and related government actions. Unfortunately, many businesses will continue to be affected for some time. This has consequences for their value and the value of many of their commercial assets.

Prakas No. 001 and Prakas No. 103

The COVID-19 pandemic is having a tremendous impact on the world’s economy. Many businesses are struggling to stay afloat and doing whatever they can right now to rationalise costs and preserve any cash surpluses they have in order to bridge future cash flow needs. Around the world, governments are stepping in to try and limit the impact of the pandemic by providing financial support in numerous ways from direct cash payments through to the deferral of tax payments.

Implementing CIFRS for banks in Cambodia

As the impact of a novel strain of coronavirus (COVID-19) continues to unfold around the world, those individuals responsible for preparing financial statements and approving them for issue need to be cognisant of not only what has happened and is happening at the reporting date and the time the financial statements are approved, but also what is likely to happen next.

The novel coronavirus (COVID-19) pandemic is spreading around the globe rapidly. The virus has taken its toll on not just human life, but businesses and financial markets too, the extent of which is currently indeterminate. Entities need to carefully consider the accounting implications of this situation.

Tax Alert No. 9839 GDT

The spread of the Coronavirus is impacting businesses around the world. Entities need to carefully consider the accounting implications of this situation. This IFRS Alert considers the impact of the Coronavirus on 31 December 2019 year ends

Implementation of IFRS 17

Navigating the changes to IFRS 2020