October 7, 2019

The Governance Framework for AI

If you think artificial intelligence or AI belongs in futuristic movies and science fiction novels, you might want to think again. You would be surprised to know that AI is involved in helping you complete a myriad of tasks, such as filing your income tax on the Inland Revenue Authority of Singapore (IRAS) portal.
September 30, 2019

1.5°C – The hot topic. Are businesses ill-prepared for climate change?

Are businesses ill-prepared for climate change? We’re working on it, says Maersk’s John Kornerup Bang. However, businesses could do better, says ICAEW CEO Michael Izza.
September 19, 2019

E-Payments and cashless societies (part 2)

As late as 2012, before mobile payments took off in earnest, 96% of payments transacted in China were in cash. Today, China’s Alipay, the largest such system globally, has one billion users around the world. That prompted Singapore Prime Minister Lee Hsien Loong to acknowledge in his 2017 National Day Rally speech that China has been leading the way in the e-payment space, even as the Singapore government was rolling out the Smart Nation initiative.
September 12, 2019

E-Payments and cashless societies (part 1)

Most people are very familiar with the benefits of a cashless society by now. Hardly a day passes without the media around the world reminding readers of how e-payments can bring about a decrease in the transaction costs that are associated with the handling of cash, or how businesses can gain consumer insights from data collected from e-payment transactions.
September 5, 2019

Combating white-collar crime?

White-collar crimes are increasingly sophisticated and transnational. The nature and scale of recent cases have been mind-boggling. In April 2018, forensic accountants from RSM Corporate Advisory highlighted issues involving possible roundtripping transactions, fabrication and alteration of transaction documents, as well as possible fraudulent and erroneous claims under the Productivity and Innovation Credit (PIC) tax scheme, with the involvement of senior company officers at a local listed company, Trek 2000 International.
August 29, 2019

The future of finance in the digital economy

There has been much attention raised in recent years over the digital economy and its impact on economic growth and businesses in the modern day. While there has been some understanding on what the digital economy entails, there is a lack of consensus on the generally-agreed definition or practical concepts of the technologies that comprise it.
July 23, 2019

WWF launches Our Planet: Our Business as the Netflix series inspires businesses to tackle urgent environmental challenges

A new short film launching today entitled Our Planet: Our Business by conservation and environmental organisation WWF is challenging business leaders to fully recognise the critical link between nature and business prosperity and the critical role the private sector must play in tackling these threats.
July 3, 2019
sustainable energy

Innovative technologies like blockchain can unlock sustainable development goals

Innovative technologies like blockchain can bring transparency and traceability to ensure progress towards achieving the UN Sustainable Development Goals, and chartered accountancy and finance professionals have a key role to play in analysing and interpreting the data new technology brings. This was the key finding from young professionals at Finance&Business2030. […]
July 3, 2019
sustainable development in business

Chartered Accountants call on finance sector to lead by example in promoting sustainability and diversity

Chartered Accountants are encouraging finance companies to share their knowledge widely, and promote diversity, as ways to work towards the UN Sustainable Development Goals. Following the launch of Finance & Business2030, Chartered Accountants Worldwide polled over 120 delegates from the public, private and third sectors for their reactions.
June 25, 2019

Chartered Accountants can play a role in balancing technology and trust in an A.I. powered world

Accountants can play a valuable role to ensure broad public trust in technologies like artificial intelligence. At the same time, accountants also need to upskill to stave off the threat of automation replacing the process-driven parts of their jobs.