The IIA released its Three Lines Model in July 2020 as an update to the highly-regarded Three Lines of Defence Model promulgated in 2013. Many practitioners either love it or hate it, while others (including this author) vacillate between the two states.
The IIA released its Three Lines Model in July 2020 as an update to the highly-regarded Three Lines of Defence Model promulgated in 2013. Many practitioners either love it or hate it, while others (including this author) vacillate between the two states.
In valuing the equity of a business, it is common to first estimate the value of the business as a whole. This value is referred to as the enterprise value (“EV”). EV reflects the value of all of a business’ funding sources i.e. all forms of the business’ debt and equity.
Internal Audit’s value lies in helping organisations manage risks effectively. Ironically, how does one then prove and quantify the benefits from risk events that have been averted? Just as the modern-day auditor has to be multi-faceted in his/her training and competencies, so does the value of internal audit. This article discusses the different intrinsic values found in internal audit.
In our previous Salient Point (Issue 3), we discussed how a company could go about preparing a cash flow forecast. Such a forecast, as mentioned in that article, could be helpful to improve the company’s cash flow visibility under uncertain times. Additionally, cash flow forecast could be used to determine the value of the business using the discounted cash flow (“DCF”) method. Such a valuation could be used for, amongst other things, fund-raising, impairment assessment and/or reporting to stakeholders.
Businesses currently find themselves in unchartered waters as the Covid-19 pandemic situation continues to persist. Even historically profitable businesses are not spared as supply chains globally are disrupted and the future looks bleak. In particular, small and medium enterprises (“SMEs”) have been hit hard. The SBF-Experian SME Index^, which tracks business sentiment specifically for SMEs in Singapore for the next six months, fell from 50.4 in Jan 2020 to 48.3 in April 2020, reaching an all-time low since the establishment of the index in 2009*. To navigate uncertain times, it is crucial for SMEs to review their existing business plans and cash flow forecasts which may be obsolete given the disruption caused by Covid-19.
Recognising that data is capital, many organisations today are incentivised to collecting and correctly interpreting a vast amount of data to make better decisions across all levels, with the key objective of gaining significant competitive advantage over their competitors. However, with great data comes great risks. Other than data corruption or data compliance risks, there are many lesser-known data risks. In this issue, we're pleased to share an overview of the different types of data risks as well as an outline on the Data Risk Management Framework.
Get an overview of the Variable Capital Company ("VCC"), a new corporate structure for all types of investment funds in Singapore. In this article, we present four considerations relating to the valuation of these private equity investments under uncertain times.
In making its point about coin offerings (commonly known as Initial Coin Offerings or token sales), the report stated that “two obscure companies with no sales raised nearly US$400 million combined in recent days from outside investors". This was then juxtaposed with a 2016 statistic about US companies raising some US$219 million on average by undertaking the more conventional (and highly regulated) IPO route.
In recent years, the rapid growth of the market for cryptocurrencies and the increasing trend to raise funds through issuance of tokens , known as initial coin offerings (“ICO”) have resulted in inconsistencies in the regulation of ICOs across the world.
Charities that hold their funds in investments rather than fixed deposits would likely be affected by the changes in the accounting standards; with FRS 109 Financial Instruments having replaced FRS 39 Financial Instruments: Recognition and Measurement from 1 January 2018.
Under the previous administration, Malaysia transitioned from the old Sales and Services Tax (SST) to the existing Goods and Services Tax (GST). Following the Malaysian General Election 2018, the new government decided to abolish the GST and revert to the SST regime. In line with this decision, the government imposed zero rated GST effective 1 June 2018 before transitioning into SST.
Sweeping changes are being made in Malaysia under its new premier, Tun Dr. Mahathir Mohamad. Chief amongst these is the decision to repeal the Goods and Services Tax, or GST.