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News & updates

20.12.2013

Examining Confidence Levels

Funding at a consistent 70 percent confidence level will allow you to weather the ups and downs without the need to respond abruptly, and gradually accumulate equity.


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20.11.2013

Is My Fund an Investment Entity/Company?

This is a follow up on a prevous article detailing the requirements of amendments to IFRS 10, IFRS 12 and IAS 27, issued in October 2012.


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23.1.2013

IFRS for Investment Entities

For the first time the International Accounting Standards Board has issued industry specific guidance for investment entities.

 

 


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16.1.2013

Avoid 6 Critical Errors When Completing the FAR

The Fund Annual Return (“FAR”) is an electronic form that fund operators must use to provide CIMA with general, operating and financial information about their fund. This electronic document must be completed and filed for every regulated fund, together with a pdf version of the audited financial statements within six (6) months of the reporting entity’s year end. Through our review of FARS submitted to CIMA, we’ve been able to build this list of six tips to common yet critical errors to avoid.

 


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1.10.2012

The Insurance (Amendment) Bill 2011: Portfolio Insurance Companies

This article summarises the main points of the Insurance (Amendment) Bill 2011. This Bill, currently a consultation draft seeks to amend the Insurance Law, 2010 to permit the registration of Portfolio Insurance Companies; and to provide for incidental and connected purposes.


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1.6.2012

Exposure Draft for IFRS Investment Companies

For the first time the International Accounting Standards Board has proposed industry specific guidance for investment entities. Under US Generally Accepted Accounting Principles similar guidance has existed for some time and is currently documented in Accounting Standards Codification 946 Financial Services-Investment Companies.


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1.4.2012

Fund Companies, Cayman Islands vs. Singapore

With the current economic environment still heavily focused on regulation, PKF (Cayman) Ltd and PKF-CAP LLP in Singapore have prepared this summary comparison of the fund regulations in two of the major global jurisdictions. Funds are defined in the Cayman Islands regulations as mutual funds and the Singapore regulations as collective investment schemes.


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1.1.2012

Accounting Evolution for Investment Companies

Although there has been significant progress since the Memorandum of Understanding (MoU) was developed between the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) in 2002, there are still differences between International Financial Reporting Standards (IFRS) and US Generally Accepted Accounting Principles (US GAAP) [Accounting Standards Codifications (ASC)].


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3.12.2011

Cayman Captive Article 2011

As the International Accounting Standards Board develops its reporting requirements, PKF’s Ben Leung and Rennie Khan examine the evolving International Financial Reporting Standard 9 and its application for insurance entities.

 


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16.3.2011

Business Spotlight

PKF Cayman, one of the premier accounting and business advisory firms in the Cayman Islands, has enjoyed strong growth since its inception in October 2007. The firm serves many clients that require global support for audit, tax and consulting services. In particular, the firm has a wealth of experience auditing offshore vehicles – in particular hedge funds and captive insurance companies – and is committed to providing clients with a responsive, knowledgeable and professional service. Delivery of this commitment has helped the firm achieve significant growth in Grand Cayman.


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