European Union: Accounting Standards

The 2026 reform raised the Cyprus corporate tax rate from 12.5% to 15%, and most commentary stopped there. However, the reform left the Cyprus notional interest deduction (NID) untouched. A higher headline rate therefore makes the NID more valuable, not less. For a company funded with equity, it can bring the effective rate on qualifying profit down to 3%.

Effective bookkeeping extends far beyond compliance and record-keeping—it provides the financial visibility, accuracy and insight businesses need to make informed decisions, manage risk and plan for growth. By asking critical questions about financial reporting timeliness, cash flow visibility, reconciliation accuracy, VAT management and data reliability, organisations can identify gaps in their bookkeeping processes before they impact business performance.

IFRS 18 applies for annual reporting periods beginning on or after 1 January 2027 and will replace IAS 1. Although it does not change recognition and measurement principles, it will significantly affect how financial performance is presented and disclosed.

A closer look at the International Non Profit Accounting Standard (INPAS), its practical impact, and key consideration for local non profits.

Recent legislative developments have introduced important changes to the way certain companies prepare and file their annual financial reports in Malta, particularly those subject...

Cyprus offers a structured legal framework for company formation under the Companies Law, Cap. 113, providing access to EU markets and a competitive tax environment. However, success depends on proper corporate structuring, regulatory compliance, and understanding the full scope of ongoing obligations. This comprehensive guide examines the incorporation process, cost considerations, and compliance requirements that determine whether a Cyprus company can operate effectively within the jurisdiction.

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The year 2025 is a landmark period for the French statutory audit profession (Commissariat aux Comptes), defined by the profound impact of European legislation and heightened regulatory scrutiny...

Aiming to increase comparability, transparency, and coherence in financial reporting, on 09 April 2024, the International Accounting Standards Board (IASB) published a new accounting standard...