Events and Trends Vol. 219

FEATURE

An opportunity for transformation

An opportunity for transformation – how internal audit helps contribute to shareholder value
The dire consequences of failing to control risk appropriately are being felt by companies in all industries and sectors, demonstrating the importance of strengthening the internal audit function. In a special report from PwC Advisory/Internal Audit, the case is made for a transformational project, one that would improve internal audit’s value-to-cost ratio and align its priorities with shareholders’ interests. This means, for starters, focusing more on the "right risks", which go beyond financial and compliance risk to include strategic/business risk and operational risk, as well as financial and compliance risks.

Preparing your first IFRS financial statements – disclosures and other considerations
The last installment in our series on first-time adoption of International Financial Reporting Standards addresses specific disclosure requirements for the first year of adoption and beyond.

ISSUES

Opportunities and challenges for Taiwanese-owned firms abroad listing in Taiwan
It can take a year or more to complete a market listing in Taiwan, so current economic distress notwithstanding, Taiwanese-owned enterprises around the Greater China region are advised to start considering the pros and cons of listing shares or Taiwan depositary receipts on their “home” markets. The challenges in doing so are real but not insurmountable, and thanks to recent policy changes and better cross-Strait links, the attractions are substantial for forward-thinking firms. (Audrey Tseng)


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