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Search Results: 36 results for keyword "IFRS".
PwC report: Time needed to implement IFRS 17 has increased
27-09-2021 22:14
The second edition of PwC’s IFRS 17 Health Check Survey 2021: Asia-Pacific reveals that the proportion of respondents who are “mostly confident” to fully implement the reporting standard by the effective date has decreased to 35 per cent from 41 per cent in the previous year.
ICAEW teams up with Vietnam’s Ministry of Finance to deepen accounting and auditing expertise
20-07-2021 18:01
The Institute of Chartered Accountants in England and Wales (ICAEW) has recently signed an MoU with the Accounting and Auditing Supervisory Department under Vietnam’s Ministry of Finance to jointly build a long-term and tight partnership for the common goal of increasing the quality of human resources and accelerating the development of Vietnam’s accounting and auditing aspects to come on par with international economic integration requirements.
A strategic assessment for Vietnam’s adoption of IFRS
01-02-2021 10:27
Companies that have benefited most are those that have looked at this as a chance to make improvements to their systems and processes and have used it as a focus for more efficient, punctual and meaningful internal and external financial information.
IFRS 9 for banks set to be the way forward
14-12-2020 08:00
The International Financial Reporting Standards (IFRS) Roadmap in Vietnam was officially announced in Decision No.345/QD-BTC in March by the Ministry of Finance. Against the mandate by the ministry and economic distress caused by COVID-19, KPMG now views the application of IFRS to be more challenging than anticipated as banks in Vietnam plan forward to embrace IFRS 9.
Gathering momentum in IFRS adoption
13-10-2020 16:32
Following March’s promulgation of Decision No.345/QD-BTC by the Ministry of Finance approving the scheme for applying International Financial Reporting Standards in Vietnam, a new survey has revealed that more than 50 per cent of respondents have applied or are preparing to convert to the system.
EY Vietnam collaborates with Loc Troi Group for IFRS adoption
21-09-2020 18:56
Ernst & Young Vietnam (EY Vietnam) inked a deal with Loc Troi Group to develop and implement the IFRS international accounting standard system.
What firms need to know about IFRS compliance in ERP system
20-07-2020 07:30
The incorporation of compliance with the International Financial Reporting Standards (IFRS) in the Enterprise Resource Planning (ERP) system implementation will greatly benefit enterprises in terms of operation management as well as investment efficiency. ERP is a system that integrates all economic activities of an enterprise on one platform, and by doing that, systemises all business processes and information across the organisation.
IFRS adoption roadmap raises challenges to property businesses
28-05-2020 19:03
A recent Ministry of Finance ruling to adopt the International Financial Reporting Standards (IFRS) is set to send ripples across real estate businesses, especially those with extensive asset portfolios. The adoption roadmap commits to improved transparency and brings financial reporting in Vietnam closer to global standards.
IFRS for better financial reporting in Vietnam
04-05-2020 08:00
The recent announcement of a roadmap for international financial reporting standards (IFRS) in Vietnam marks a key milestone on the path of improvement of financial reporting quality in the country.
Int’l accounting rules pave way for investment
17-08-2019 11:42
Vietnamese firms should adopt International Financial Reporting Standards (IFRS) instead of current Vietnamese accounting standards (VAS) if they want to enhance transparency and become more attractive to investors.
New business definition eases M&A accounting
05-08-2019 08:00
Mergers and acquisitions (M&A) have become an important growth strategy for many companies. Yet before engaging in any such activity, companies will need to consider the financial reporting implications of the transaction. This requirement has become especially important following the latest amendments to International Financial Reporting Standard (IFRS) 3 Business Combinations, which will apply to acquisitions that occur on or after January 1, 2020.
IFRS 17 to impact financial statements of insurance companies
11-07-2019 15:13
A consistent accounting framework, with appropriate measurement models for different types of insurance contracts, is the key feature of the International Financial Reporting Standard No.17 (IFRS 17), which contributes to making insurance companies understand the nature and impacts of these models on their financial statements.
IFRS 17: The controversy that has not come to an end
08-07-2019 08:00
As the first comprehensive and truly International Financial Reporting Standard (IFRS) to set up a consistent accounting framework for all insurance contracts, IFRS 17 is the result of an initiative by the International Accounting Standards Board (IASB).
Banks look towards IFRS 9 practical implementation
19-06-2019 19:37
The transition to IFRS 9 will be challenging, but with careful preparations, the changes that this reporting standard brings might turn into opportunities for banks, experts from PwC and SAS said at a workshop held in Hanoi yesterday.
Implementing IFRS 17 a step to polish framework
19-12-2018 14:00
IFRS 17, an International Financial Reporting Standard issued by the International Accounting Standards Board in May 2017, will likely begin to replace the current framework in Vietnam in the next seven years. Vanessa Lou, director of Actuarial Services in Southeast Asia, EY Singapore, talked with VIR’s Nhue Man about what this will mean to Vietnam, and how the country can gain therefrom.
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