Insights

The reluctance is understandable. Your business has showed good signs of health for years (or decades), in large part because you’ve concentrated on creating value in the field you know best. Within a short span of time, you’ve begun to hear plenty of talk about the need for businesses to transform themselves for entry into the digital world.

As artificial intelligence grows in capability, people in all industries have begun to look on with some measure of concern. What if I lose my job to a robot?

IFRS News is your quarterly update on all things relating to International Financial Reporting Standards.

On 30 March 2018, the Bangkok Post reported Deputy Prime Minister Somkid Jatusripitak expressing his support for Thailand in joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Also known as the TPP-11, this amended version of the TPP has been the version under consideration since the United States announced its plans to stay out of the deal.

The last year has seen global business take one step forward but one step back when it comes to gender diversity in leadership. The percentage of businesses around the world with at least one woman in senior management has increased significantly, rising from 66% in 2017 to 75% in 2018. However, at the same time the proportion of senior roles held by women has marginally declined.

The global automotive supply chain is one of the largest, most complex, challenging and yet sensitive market networks. In this article we view this supply chain through the eyes of Original Equipment Manufacturers (OEMs) and their suppliers. We highlight external forces impacting the market, suggest approaches for those looking to move up the value chain, and give insight into the future of the industry.

On 22 December 2017, the president of the United States signed into law the ‘Tax Cuts and Jobs Act’. The Act is a sweeping reform of US taxation which is likely to have a significant impact on financial statements prepared under IFRS for entities with US operations.

Many businesses globally are missing out on opportunities because of a lack of diversity in senior leadership teams. This means that a business does not necessarily reflect the markets or communities in which they operate, and it could be holding them back.

Many organisations have placed tremendous efforts in implementing a new ERP system or improving their current system. They correctly believed that the ERP system would bring lots of advantages to their organisation, such as process efficiency improvements, benefits of a single database, and data analytics capabilities for corporate strategy.

IFRS News is your quarterly update on all things relating to International Financial Reporting Standards.

Blockchain is set to play a crucial role in the digitisation of taxation by providing the ‘wiring’ needed for real-time recordkeeping, verification and information exchange. Automatically fulfilled blockchain-enabled ‘smart contracts’ also offer faster and more efficient ways to evaluate and settle tax liabilities.

Automating and optimising your supply chain can help save money and facilitate growth. So could it work for your business?

The latest global survey findings from our International Business Report (IBR) shows that despite the rise of automation and record global business optimism (net 58%) businesses will turn to people in 2018 to meet swelling order books.

We have published the IFRS Alert 2017 - 07: IASB issues 'Annual Improvements to IFRS Standards 2015-2017 Cycle'. The Annual Improvements address minor, but necessary, changes to various IFRS Standards to clarify wording or eliminate inconsistencies between Standards.

The December 2017 edition of the publication has been updated for changes to International Financial Reporting Standards that have been published between 1 December 2016 and 30 November 2017. In particular this edition covers the new Standard for insurance contracts – IFRS 17, for the first time.

Asia Pacific is a vast and diverse region, and one of the strongest performing parts of the global economy. GDP growth across Asia Pacific is forecast to hit 5.6% in 2017, well above the 3.6% projected worldwide, and 5.5% in 2018.