The changing world of technology in financial services
Cognitive and analytical technologies are set to bring about widespread change in the financial services industry, not just when it comes to “defense” functions such as risk and compliance, but also in “offence” activities that drive marketing and revenue growth.
Is business analytics another passing fad?
There is little doubt that analytics is one of the leading trends in corporate circles globally. Does that mean it’s worth paying attention to? Business analytics has made a quick rise to the top of many executives’ must-have list. As most business veterans who have been in the trade long enough know, that is ample reason to question whether this is just another passing fad. It could also be a new capability that is going to become essential for any company interested in making smarter decisions.
Unlocking human potential :Proactive practices for individual elasticity
The Center for the Edge has written extensively about how the world is changing, and about the implications and impact of this change on corporations. They have framed the deep structural shifts afoot and practices that institutions can adopt to thrive in the world to come. Now, this report addresses practices that individuals—not just leaders, executives, and top athletes, although many of their practices are relevant, but all of us—may need to adopt to thrive in this world.
IFRS 15 New Revenue Model: Spotlight on Retail, Wholesale and Distributor Sector
Below, we highlight certain key impacts resulting from the new Standard that will be of particular interest to those in the retail, wholesale and distribution sector and then consider parts of the new Standard that may contribute to those impacts. Of course, many more complexities exist and, as described below, Deloitte has produced further guidance which explores these in greater detail.
Taxation of Insurance Business – Restating the case for legislative review
One of the major objectives of the National Tax Policy (NTP) is to ensure fairness and equity, in order to imbibe a tax culture where taxpayers are regarded as the custodians of our commonwealth and enhance the Nigerian business environment. With such laudable goals, the question begs to be answered, why the reality on ground is quite different from Nigeria’s prime policy document on tax. This may be due in part to an apparent disconnect between the NTP, our current tax laws and tax administration in Nigeria.
Tax deductibility of expenses incurred outside Nigeria: Are days of arbitrary awards over?
The increased pace of globalisation has not left Nigeria and Nigerian companies out. Consequently, Nigerian companies are increasingly involved in business activities abroad in order to remain competitive in today’s business environment. This means that companies in Nigeria earn income and/or incur costs outside Nigeria.
IFRS 15 New Revenue Model: Spotlight on Power
The revenue and profit recognition profile of power companies may be significantly impacted by IFRS 15 as the new Standard is more detailed and more prescriptive than the existing guidance and introduces new complexities.
FEC Approves Revised National Tax Policy
The Federal Executive Council (FEC) on Wednesday, 1 February 2017, approved the revised National Tax Policy (NTP). The approval is an aftermath of the submissions made by the NTP Review Committee set up by the Minister of Finance in August 2016.
IFRS 15 New Revenue Model: Spotlight on Telecommunications
Telecoms companies have a variety of product offerings to customers. Many arrangements have multiple goods or services with options given to customers. The nature of such offerings requires careful evaluation under IFRS 15 (The new revenue recognition standard).
Nigeria ratifies the Trade Facilitation Agreement
Nigeria has ratified the Trade Facilitation Agreement (TFA), becoming the 107th country to sign up to the agreement.