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Post by Ssmith on Mon Jan 21, 2019 9:55 am

KTFA

DELTA » January 20th, 2019

The supervisory and auditing bodies meet in the Central Bank of Iraq


The supervisory and auditing bodies meet in the Central Bank of Iraq The supervisory and auditing bodies in the Iraqi Central Bank, on Sunday, held a meeting, chaired by the Governor of the Bank, Ali Al-Alaq.

The central bank said in a statement, received (Baghdad today) a copy of it, that “a meeting of the bank held today under the chairmanship of the Governor, and the presence of the President of the Office of Financial Supervision, the head of the board of Securities, and the captain of accountants and auditors, and Vice-President of the Iraqi Association of Certified Public Accountants, and representatives of international audit firms (KPMG, Ernst & Young, Price waterhouse Coopers).

”The statement added, “The meeting dealt with prospects for professional work and legal requirements with respect to auditing professions and provide professional consulting provided by those companies.” The participants stressed the importance of the role played by these companies in different aspects, and the need to establish legal frameworks for auditing and advisory functions.

https://baghdadtoday.news/

 "International" - Sun. PM KTFA Thoughts, News w/ Frank26 1/20/19 Alak_8_orig

Boxman » January 20th, 2019

Thanks Delta..Having international accounting standards for their major companiesand financial institutions is a major requirement for many investors..

Frank26 » January 20th, 2019

INTER .............. NA ............ .......TION ............... AL !!! (smile)

DELTA » January 20th, 2019

SÍ, HERMANO........LOL

GodsServant » January 20th, 2019

NOT IF Brother............ When...............Announce............Pls

Itsmedt » January 20th, 2019

I don’t think these entities would be wasting their time if there was a delay. IMO

MilitiaMan » January 20th, 2019

PricewaterhouseCoopers (doing business as PwC) is a multinational professional services network headquartered in London, United Kingdom. PwC ranks as the second largest professional services firm in the world behind Deloitte, and is one of the Big Four auditors, along with Deloitte, EY and KPMG.

"KPMG. KPMG is a professional service company and one of the Big Four auditors, along with Deloitte, Ernst & Young (EY), and PricewaterhouseCoopers (PwC). Seated in Amstelveen, the Netherlands, KPMGemploys 207,050 people and has three lines of services: financial audit, tax, and advisory.

Ernst & Young. Ernst & Young (doing business as EY) is a multinational professional services firm headquartered in London, England, United Kingdom. EY is one of the largest professional services firms in the world and is one of the "Big Four" accounting firms.
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Alak is sitting at the head of the table and has everyone's attention. The attention of three of the largest firms in their line of work in the World. They will need to coordinate with each other from here on out.. We should all be smiling about now with the timing of the meeting. The numbers not only on the new notes will have to be accounted for and well managed just as contracts will be when during and after the (RD/RI/RV) process of completion of the Monetary Reform and the re construction of the country. ~ IMO ~ MM

Popeye7 » January 20th, 2019

Yep... Alak taking orders for the Starbucks run he is about to embark on... One Mocha Frap please... That will be 4.50 in dollars, or 1 dinar in Iraqi currency... (wink)

JJonesMX » January 20th, 2019

For those who don't know of these firms are....

This timing OF MEETING/S as well as summer months IMF REPORT CARD ARTICLE IV (SUMMER MONTHS) ARE COMING as this audit is every two years as well I believe ALL POSITIVE

Who are the Big Four accounting firms?

The Big Four accounting firms refer to Deloitte, PricewaterhouseCoopers (PwC), KPMG, and Ernst & Young. These firms are the four largest professional services firms in the world that provide audit, transaction advisory, taxation, consulting, risk advisory, and actuarial services. The Big Four perform audits on the majority of public companies and private companies throughout the world.

Deloitte

Deloitte Touche Tohmatsu Limited, more commonly referred to as Deloitte, is a UK-incorporated international professional services firm with headquarters in New York City. Widely regarded as one of the top firms within the Big Four, Deloitte is well known for its audit, tax, risk, financial advisory and consulting services. With offices in more than 100 locations worldwide, it reported the highest revenue among the Big Four accounting firms in 2016 and is considered the sixth largest privately owned organization in the United States.

Pricewaterhouse Coopers (PwC)

Pricewaterhouse Coopers is another international professional services network in the Big Four. Headquartered in London, it ranks just behind Deloitte in terms of revenue and size. With offices in more than 150 locations worldwide, PwC brought in $35.9 billion in revenue in 2016. PwC was created in 1998 from a merger between Price Waterhouse and Coopers & Lybrand. In September 2010, the merged company’s name was shortened to PwC as a rebranding effort. The firm is the fifth largest privately owned company in the United States.

KPMG

KPMG, which stands for Klynveld Peat Marwick Goerdeler, was formed from a merger between Klynveld Main Goerdeler (KMG) and Peat Marwick in 1987. With headquarters in Amsterdam, the Netherlands, KPMG currently employs about 190,000 staff with three main distinctive services lines: financial audit, tax, and advisory. Each national KPMG firm is an independent legal entity and is a member of KPMG International Cooperative, a Swiss entity.

Ernst & Young (EY)

Ernst & Young, more commonly referred to as EY, is another Big Four firm with headquarters in London. EY was ranked as the 29th best company to work for in the United States, as well as the 11thlargest private organization in the world. It was formed from a merger between Ernst & Whinney and Arthur Young & Co. in 1989. With hundreds of global offices, EY brought in $29.6 billion in revenue in its 2016 fiscal year. It is known as the auditor of many tech firms in the Silicon Valley area.

Skills and jobs at the Big Four

If you’re pursuing a career path at one of the Big Four accounting firms you’ll want to leverage several free CFI resources to help you get the job!

In addition to an accounting designation, many of these firms also hire candidates with significant experience performing advanced financial analysiswith strong Excel skills.

More specifically, experience with financial modeling can really help you stand out from the crowd. If you don’t already have some experience, the best way to get some is by taking up CFI financial modeling courses and learning step by step how to build a model from scratch
Additional resources on the Big Four accounting firms

As you can see from this guide, the Big Four accounting firms (Deloitte, PricewaterhouseCoopers, KPMG, and Ernst & Young) are all extremely large professional public accounting firms with a wide range of services including audit, financial advisory, taxation, consulting, risk advisory, and actuarial services. The Big Four offer a wider range of career paths for aspiring corporate finance professionals.

https://corporatefinanceinstitute.com/resources/careers/companies/big-four-accounting-firms-services-overview/

From 2016 IMF LETTER OF INTENT.... SEE HOW IT ALL FITS TOGETHER...?
SNIP... FOR YOU FAMILY
BLESSINGS *JJ*

Page26....

Approval by the Council of Ministers and introduction to Parliament of an amendment of the Investment Law, or issuance of clarifying implementing regulations by the Ministry of Finance, to remove the limitation on transfer of investment proceeds that gives rise to an exchange restriction

3rd review

Improve the business environment by eliminating restrictions for current international transactions

14. The government will gradually remove remaining exchange restrictions and multiple currency practice (MCP) with a view to eliminating exchange rate distortions. Such a move towards acceptance of the obligations under Article VIII of the IMF’s Articles of Agreement will send a positive signal to the investment community that Iraq is committed to maintain an exchange system that is free of restrictions and MCPs for current international transactions and thus facilitate creation of a favorable business climate.

As a first step, the Council of Ministers will approve and introduce to parliament an amendment of the Investment Law, or the CBI will issue clarifying implementing regulations, to remove the limitation on transfer of investment proceeds that gives rise to an exchange restriction

(SB Table 5),
as recommended by a recent technical assistance mission of the IMF. As a second step, the CBI will, by the end of 2016, make the weekly limits on the purchase of cash at the weekly foreign currency auctions indicative, in the sense that any bank requiring additional cash for their clients’ legitimate travel expenses will be able to obtain the required amount above these limits on the basis of appropriate documentation. The CBI will make the public aware of such a policy by explaining it through a press conference and on its external website.

https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.imf.org/external/np/loi/2016/irq/06192016.pdf&ved=2ahUKEwipi8eH9vzfAhVIYK0KHfHKBoAQFjASegQICBAB&usg=AOvVaw1Gvz5eCJNFOacfVsX6dGdo&cshid=1548009566573
Ssmith
Ssmith
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GURU HUNTER

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