“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…
Emeritus Professor Joe Nellis is economic adviser at MHA, the accountancy and advisory firm. The ECB’s decision to leave interest rates unchanged was expected, following inflation falling in June for the first time this year. After raising interest rates last month, the ECB has shown patience while they assess whether higher borrowing costs are effectively…
From record-keeper to architect of value: the skills that will matter most in the era of agentic AI For decades, a company’s finance function has been synonymous with rigor, control, and a backward-looking gaze: month-end closings, reconciliations, reports that confirm what has already happened. The chief financial officer was, in essence, the guardian of the…
For many non-profit organizations (NPOs), preparing consolidated financial statements is not always straightforward. Unlike the corporate sector, where ownership is often the determining factor, consolidation under IFRS 10 Consolidated Financial Statements is based on control. This distinction frequently creates challenges, particularly for organizations operating through foundations, charitable trusts, subsidiaries, or affiliated entities. In practice, one of the most common misconceptions is that an entity…
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…
The legal profession has historically been regarded as one of the most traditional sectors in the business world. Many law firms have traditionally relied on structures and working practices that changed only gradually, supported by predictable billing models and labour-intensive processes. That is changing. The relentless march of technology is now changing the legal industry…
For many years professional services firms in sectors such as law, consultancy, accountancy, marketing and software development have relied for their profitability on charging clients for the number of hours worked. The growing adoption of artificial intelligence and other disruptive technologies is now challenging this model, traditionally based on rewarding time and workload. As AI…
In real estate development, success is often associated with location, design and timing. These factors matter. But they are no longer enough. Having worked with developers, contractors, investors and lenders across the construction and real estate sector for many years, it’s evident that the projects which perform best are not always the most ambitious or…
We are pleased to bring you Issue 36 of Tax Refresher, our bi-monthly newsletter designed specifically for large corporate and international businesses, helping you stay informed on the latest tax, VAT, and employment tax developments impacting organisations operating across multiple jurisdictions. In this Pillar Two special edition of Tax Refresher, you will find the below…