Notice to members – IESBA Code of Ethics (August 2024)

IMPORTANT NOTICE Please find following the link to the 2024 EDITION of the HANDBOOK OF THE INTERNATIONAL CODE OF ETHICS FOR PROFESSIONAL ACCOUNTANTS (INCLUDING INTERNATIONAL INDEPENDENCE STANDARDS) 2024 Handbook of the International Code of Ethics for Professional Accountants | Ethics Board Of note is that the 2024 Code of Ethics, which replaces the 2023 Code of Ethics, […]

President Pretino Albury speaks on “Business Licence audits ‘crack open blue chip’ company flaws”

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net Mandatory Business Licence audits have “cracked open” control and process flaws among companies viewed as “blue chip” in The Bahamas, a senior accountant revealed yesterday.Pretino P. Albury, the Bahamas Institute of Chartered Accountants (BICA) president, told Tribune Business that his members had seen “quite a bit” of these […]

Bahamas Financial Services Board – London and Switzerland Review Webinar

BFSB is pleased to invite you to their upcoming London and Switzerland Review Webinar. The session will be led by Minister of Economic Affairs, Sen. The Hon. Michael Halkitis, who will share valuable insights from the recent visits to these key financial hubs. Webinar Details Date: Wednesday, September 11th, 2024 Time: 11:00 AM – 12:00 […]

Ministry of Finance – Commercial Entities Substance Report Act

At the request of the Ministry of Finance below is a copy of the Commercial Entities (Substance Requirements) Act 2023 (“CESRA”) together with its subsequent Amendment and Guidance Notes. COMMERCIAL_ENTITIES_SUBSTANCE_REPORTING_NOTICE_JANUARY_2024[1] CESRA_AMENDMENTS_Exo_8th_December,_2023[1] CESRA_GUIDANCE_NOTES_8_SEPT_2023[1] CESRA_2023_-_Extraordinary_Gazette_11th_August,_2023_(B)_(1)[1]      

IFAC’s summary of news and resources Update – September 2024

IMPACT #1: Strong and Sustainable Accountancy Profession New Toolkit for PAOs to Advance Strategic Planning Out Now from IFAC — In order to significantly contribute to national economic and social development, PAOs around the world need a coherent strategy and operating model to realize their full potential. To equip PAOs with a clear, practical, and […]

New Guidance Available from IAASB on Using the ISA for LCE

(New York, New York, August 27, 2024) The International Auditing and Assurance Standards Board (IAASB) has issued new guidance on the application of the International Standard on Auditing for Audits of Financial Statements of Less Complex Entities, known as the ISA for LCE. The Authority Supplemental Guidance will help users in determining the appropriate situations to use […]

AIBT’s Nassau Conference 2024

The Nassau Conference 2024 of AIBT will be held on 18th September, 2024 under the theme “A Masterclass in Growth & Innovation” at the Baha Mar Convention Centre, and the half-day, pre-conference Financial Services Bootcamp is set for 17th September, 2024. Since its founding in 2005, The Nassau Conference has established itself as the premier […]

IASB July 2024 podcast now available

In this episode of the IASB podcast, IASB Vice-Chair Linda Mezon-Hutter and IASB Member Tadeu Cendon join IASB Executive Technical Director Nili Shah to discuss highlights from the IASB meeting held on 22-24 July. The following projects are featured: Post-implementation Review of IFRS 15 Revenue from Contracts with Customers (00:43); Rate-regulated Activities project (5:36); and Second Comprehensive Review of the IFRS […]

IASB proposes illustrative examples to improve reporting of climate-related and other uncertainties in financial statements

The International Accounting Standards Board (IASB) today published a consultation document, proposing eight examples to illustrate how companies apply IFRS Accounting Standards when reporting the effects of climate-related and other uncertainties in their financial statements. The IASB developed these illustrative examples in response to strong demand from stakeholders, particularly from investors. They expressed concerns that […]

IASB proposes amendments for translating financial information into hyperinflationary currencies

The International Accounting Standards Board (IASB) has today published proposals in an Exposure Draft to address accounting issues that affect companies that translate financial information from a non-hyperinflationary currency to a hyperinflationary currency. These proposals, which are narrow-scope amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates, introduce translation requirements for these […]