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


Financial Reporting Council (FRC) updates iXBRL taxonomies, effective on or after 1 January 2019

17 Aug, 2018  Posted By Shabeer   Posted in iXBRL
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The Financial Reporting Council (FRC) has made updates to iXBRL taxonomies that will take effect on or after 1 January 2019. Keeping with the recent amendments, FRC has also said that early adoption will be accepted only if both the … Continue reading


DATA Act Compliance Shows Room for Improvement

16 Aug, 2018  Posted By Guru Raj Singh   Posted in DATA Act

On 23 July 2018, the U.S. Government Accountability Office (GAO) released a report that examined the quality of agencies’ spending data in the context of the Digital Accountability and Transparency Act of 2014 (the DATA Act). Perhaps of some concern, … Continue reading


European Commission proposes to clarify the meaning of pre-marketing under AIFMD

10 Aug, 2018  Posted By Shabeer   Posted in AIFMD
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In March 2018, the European Commission released a proposal to amend the AIFM directive in order to provide further clarity as to what constitutes pre-marketing. The proposal, if accepted, should be adopted in May 2019, and should then be implemented … Continue reading


XBRL – a standard for now and the future of compliance reporting in the US

03 Aug, 2018  Posted By Guru Raj Singh   Posted in XBRL
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XBRL has been around for a few years now. At the time of its introduction, much attention was given to the possibilities that XBRL reporting could offer – digitization, increased comparability and reliability to name a few. However, it’s equally … Continue reading


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