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AIA Oppose HMRC’S Proposal to Seek Greater Power to Access Bank Accounts Without Warning

From www.aiaworldwide.com

A new policy document published online this week reveals how HMRC plan to seek new powers which will enable them to access bank accounts without the holders being informed. The new policy will allow HMRC to undertake secret investigations, with carte blanche to look into all aspects of an individuals finances, without having to ask permission in order to identify whether they are paying the right amount of tax.

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AIA Advocate the Benefits of Financial Education and Professional Skills

From www.aiaworldwide.com

The Northern Powerhouse Business Summit, which took place 4-6 July, was the central experience for businesses during the Great Exhibition of the North. The Summit heard from an outstanding line up of speakers, held workshops, and provided inspiration from stories of innovation from across industry.

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A UK Corporate Governance Code that is Fit for the Future | FRC

From www.frc.org.uk

Today the FRC has released the 2018 UK Corporate Governance Code which puts the relationships between companies, shareholders and stakeholders at the heart of long-term sustainable growth in the UK economy. The new shorter, sharper Code is the product of extensive consultation. This Code places emphasis on businesses building trust by forging strong relationships with key stakeholders. It calls for companies to establish a corporate culture that is aligned with the company purpose, business strategy, promotes integrity and values diversity.

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Claudia Mortimore Discusses the FRC’s Enforcement Process | FRC

From www.frc.org.uk

The Enforcement Division of the Financial Reporting Council (FRC) investigates alleged failures in audit, accounting and actuarial work and takes enforcement action when appropriate.  The multi-disciplinary team of 30 (comprising lawyers, forensic accountants and legal assistants) works on approximately 30 investigations at any one time.

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Emerging Technologies: Significant in the World of Accounting | AccountingCPD

From www.accountingcpd.net

Technology is advancing at a pace, and as well as being aware of the impact it is having on business performance now, organisations also need to make sense of the effect that emerging technologies are going to have; the disruption they will cause and the opportunities they will provide.

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Facebook Slapped With Maximum Fine for Data Breaches | AccountingWeb

From www.accountingweb.co.uk

The Information Commissioner’s Office (ICO) has issued a notice of intent to fine Facebook £500,000, the maximum amount possible under the Data Protection Act, for failing to protect its users’ data and not being transparent about how data was harvested by third parties.

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Finance Bill 2019: Proposed Tax Changes | Accounting Web

From www.accountingweb.co.uk

his is the draft Finance Bill 2018-19, which will become FA 2019, when it is passed in March 2019, so the new law can take effect from 1 April 2019 or a later date.
The formal consultation on these proposals is open until Friday 31 August. However, the draft provisions could be subject to changes announced in the Budget in November 2018, or as a result of representations made during this consultation period.

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AIA Advocate the Benefits of Financial Education and Professional Skills

From www.aiaworldwide.com

 The Northern Powerhouse Business Summit, which took place 4-6 July, was the central experience for businesses during the Great Exhibition of the North. The Summit heard from an outstanding line up of speakers, held workshops, and provided inspiration from stories of innovation from across industry.

No comment yet.

Achieve Registrations Open

From www.aiaworldwide.com

Registrations for our Interactive Distance Learning Programme Achieve are now open for the November Exam Session. All AIA Student must sit at every exam session and with Achieve you will get all the help and preparation you need.

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Strengthened EU Rules to Prevent Money Laundering and Fight Terrorism Financing Come Into Force

From www.aiaworldwide.com

The AIA welcomed the 5th Anti-Money laundering Directive coming into force on 10 July following its publication in the EU's Official Journal. Proposed by the Commission in July 2016, the new rules bring more transparency on the real owners of companies and tackle risks of terrorist financing. 

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Tony Loke Re-Elected as Singapore Branch President

From www.aiaworldwide.com

The AIA Singapore Branch held their 43rd Annual General Meeting (AGM) at the Swatow Seafood Restaurant, Singapore on 28 June 2018. During the event the AIA Singapore branch office bearers and committee members for 2018/19 were elected/re-elected.

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Coin Complexity – the Real Taxes on Virtual Currencies | Accountancy Age

From www.accountancyage.com

Cryptocurrencies are virtual but individuals trading or investing in cryptocurrency – and their tax advisers – need to consider the very real taxes that could apply and how to report those transactions on self-assessment returns.

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20% Discount on Income Protection Plus with PG Mutual

From www.pgmutual.co.uk

Protecting your income from long-term illness or injury with an Income Protection Plus plan could cover your income until you can return to your career or until you reach 65 (whichever comes first).

Plus, it comes at an affordable price with a 20% discount on the first 2 years’ premiums for AIA members.

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Blockchain is a Solution Looking for a Problem

From www.accountingweb.co.uk

Think about blockchain as a ledger. But instead of one that only you own, it’s open to everyone. As the programmer Carlos Beltran explained, it’s a record of transactions that doesn’t just reside in one central server: a digital ledger in which transactions made in bitcoin or another cryptocurrency are recorded chronologically and publicly.

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AIA Pricing and Regulation Update

From www.pricingandregulation.com

Join keynote speaker, Gloria Murray at the AIA Pricing and Regulation Update in September. Gloria will talk about pricing and how it can make a dramatic difference to your business or the company you work for, in ways that you may not have thought of before.

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Tax On Employee Perks Hits Record £3.3bn | Accountancy Daily

From www.accountancydaily.co

The value of tax that employees have had to pay on their job perks is up by 18% in the last year, up from £2.8bn in 2015/16 to £3.3bn in 2016/17, with company car and van drivers hard hit.

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Financial Sector Continues Curbing Risk | China Daily 

From europe.chinadaily.com.cn

China's efforts to limit risks in the financial sector gathered pace in the first quarter, with major progress made in improvements of asset quality and slowing down risky shadow banking, analysts at Moody's Investors Service said on Thursday.

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Ex-Builder Jailed for £750K VAT Fraud | Accountancy Daily

From www.accountancydaily.co

A former builder from Hampshire, who falsely claimed £750,000 of VAT repayments to pay for gambling and living expenses, has been jailed for two years and eight months following an investigation by HMRC.

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SEC Relaxes Disclosure Requirements for Smaller Reporting Companies | Accounting Today

From www.accountingtoday.com

The Securities and Exchange Commission has decided to expand the number of companies that can qualify for scaled-back disclosure requirements. The commissioners voted Thursday to adopt amendments to the “smaller reporting company” (SRC) definition, thereby increasing the number of companies that don’t need to meet the stiffer disclosure rules required of larger companies.

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What Do Finance Professionals Want From Their Employers? | Accountancy Age

From www.accountancyage.com

First impressions are of the utmost importance when it comes to making valuable hires, according to a recent survey.
Hays Accountancy and Finance found that 42% of job applicants have been put off from pursuing a role due to negative first impressions of an organisation.
The company’s What Workers Want report examines a candidate’s journey from initial job search to acceptance of a role and joining their new organisation. Over 2,000 responses out of 14,600 were from finance professionals.

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AIA Hong Kong Branch Hold 43rd Annual General Meeting

From www.aiaworldwide.com

The Hong Kong Branch AGM which was followed by the Executive Committee meeting provided AIA members and representatives with the perfect opportunity to reflect on the successes of the previous twelve months, whilst looking forward to continuing the AIA growth strategy into 2019 and beyond.

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AIA Council Member Appointed Judge at Inaugural SMEs “Brands for Good” Awards

From www.aiaworldwide.com

AIA are delighted to be playing a significant role in the inaugural Brands for Good awards. The recognition programme has been introduced to recognise and honour forward-looking regional Asian brands that have incorporated and actualised purpose-driven values that benefit different groups of stakeholders.

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Why You Can't Ignore the Money Laundering Regs

From www.aiaworldwide.com

Donald Rumsfeld, former US Secretary of Defence, is famously quoted as saying: “There are known knowns. These are things we know that we know. There are known unknowns. That is to say, there are things that we know we don't know. But there are also unknown unknowns. There are things we don't know we don't know.” This often aptly sums up students’ approach to AML compliance.

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Record-Keeping Requirements Under GDPR

From www.accountingweb.co.uk

On 23 May 2018 the General Data Protection Regulation (GDPR) was effectively integrated into the new Data Protection Act (DPA) 2018. There were significant changes within GDPR which moved the emphasis away from the “best practice” approach of DPA 1988 to a “requirements” approach under GDPR. The documentation of processing activities is a new requirement under GDPR.

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