Since January 2024, the European Union’s (EU) Emissions Trading System (ETS) has included maritime transport. What does that mean? According to the European Commission, maritime transport is one of the most energy-efficient modes of transport. However, because of its importance to the EU economy, it is a large and growing source of greenhouse gas emissions.…
For financial reporting periods beginning on or after 1 January 2027, entities must apply the requirements of IFRS 18 “Presentation and Disclosure in Financial Statements”. The International Accounting Standards Board has issued the new standard, officially replacing IAS 1 “Presentation of Financial Statements”. Financial Statements will have a different presentation on their financial performance statements…
An efficient audit does not start when the audit team arrives. It starts months earlier, with preparation, planning and clarity over what will be required, and when. Many audit overruns are not driven by technical complexity or regulatory change. They arise because audits begin before the underlying building blocks are in place. Here, we set…
“We’ve sold almost every apartment, so why haven’t our profits increased?” This is one of the most common questions property developers ask when reviewing their financial statements. Imagine a developer who has pre-sold 80% of a new residential project. Buyers have paid substantial deposits, banks are satisfied with the pre-sales, and construction is progressing according…
The retail, consumer, and hospitality sectors continue to operate in an environment shaped by rising costs, changing consumer behaviour, and increasing digitalisation. While these pressures are well understood, what is becoming increasingly evident through internal audits is that many of the underlying risks are operational rather than purely financial. Organizations that address these risks proactively…
Several countries have either banned, or are moving towards banning, access to certain generally available apps amongst under 16s. This has largely been driven by concerns about mental health, safety and the influence of algorithms on young minds. Whilst the reasons behind these initiatives are certainly laudable, they also raise a question as to whether…
Transfer pricing rules are built around a simple principle: transactions between related parties should be priced as if they were carried out between independent companies. In practice, however, applying this principle is not always straightforward — particularly in smaller economies such as Cyprus. Since the introduction of formal transfer pricing documentation requirements in 2022, Cypriot…
Despite global uncertainty and geopolitical shifts, South East Europe’s merger and acquisition (M&A) landscape is shaping up to remain solid, with steady investor appetite and domestic dealmaking to stay active. But what are the key trends shaping the market and what should businesses be preparing for next? Transaction Services Partner, Stela Ivanchova provides insight. …
Global technology, media and telecommunications (TMT) dealmaking is entering a new phase – one defined less by volume and more by conviction. Buyers are no longer focused on how much they acquire, but on what they are prepared to bet big on. The latest review of global TMT mergers and acquisitions (M&A) by Baker Tilly…