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Cross-cultural CSR complicates cross-border transactions for MNEs

A look at how cross-border corporate social responsibility will affect transfer pricing policies in multiple locations. Debates surrounding the legal, social, political, economic and ethical responsibility of corporations can be dated back to the 18th century when Adam Smith wrote the Theory of Moral Sentiments and Lectures on Jurisprudence. The ethical influence of globalization continues… Read More Cross-cultural CSR complicates cross-border transactions for MNEs

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How to automate office work

The Chief Digital Officer of the Hong Kong Productivity Council on how the workplace can enjoy the benefits of robotic process automation. Imagine a robotic colleague taking up all monotonous jobs at work. This is not science fiction, but happening now. Rather than a buzzword, robotic process automation (RPA) is a revolutionary solution that can… Read More How to automate office work

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The end of face value

Hong Kong currently lacks technical standards for business valuations. To address this, the Hong Kong Business Valuation Quality Initiative Task Force, led by the International Valuation Standards Council, recently released a consultation paper. Nicky Burridge finds out how the proposals will improve the industry, and how effective the initiative will be in helping the city… Read More The end of face value

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Is Hong Kong ready for BEPS 2.0?

From Hong Kong’s source rules to building a global consensus on how profits should be taxed by countries, experts discussed contemporary transfer pricing issues in Hong Kong at the Institute’s Annual Taxation Conference 2019. Eric Chiang and Paul Smith report. Hong Kong has long been renowned for its simple tax regime and low tax rates.… Read More Is Hong Kong ready for BEPS 2.0?

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The CFO and finance function should be at the heart of decision-making

The Chair of the International Federation of Accountants’ Professional Accountants in Business Committee on why finance teams today can no longer survive as a back-office function. By Charles Tilly The remit of chief financial officers (CFOs) now extends into strategy, enterprise risk management, performance management, and communicating the story of the organization to the outside… Read More The CFO and finance function should be at the heart of decision-making

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Can professional scepticism be taught?

James E Barbour Director of Policy Leadership Institute of Chartered Accountants of Scotland In recent years, considerably more research has been published on professional scepticism. This has helped facilitate in-depth discussions among standard setters, regulators, audit firms and professional bodies. The primary driver for this research has been the continual failure by auditors to exercise… Read More Can professional scepticism be taught?