Business Management,Finance &Tax

      Risk management—once seen as a pure safeguarding function—now has a more proactive role to play. As new risks, in particular digital disruption, emerge, the risk function will be crucial not only to defend against threats, but also to support growth and success in a digital future.      Following a number of high-profile scandals, banks are faced with a tough regulatory environment and a harsh economic climate. Managing risk is crucial if they are to maintain success in this context. In addition to managing risk, however, it is now also important to adopt a proactive stance, pre-empting change and capitalizing on—rather than capitulating to—digital disruption. Successfully balancing defensive and proactive stances requires viewing risk management as an enabler of growth, and collaborating across the business to strengthen the effectiveness of risk functions.      According to the research conducted by Accenture (2015) indicate that 150 senior management executives

The prime rate/ monetary policy rate  (MPR) is an economy tool used by central bank to control money supply and to lend money to all the commercial bank in the countries.By economy theory, a change(reduction in prime rate will trigger a reduction in base rate,cost of credit and increase the country Gross Domestic Products while lower the interest rate and discourage saving.In fact this theory hold all other economies  variable constant and is therefore confronted by the  complexities of other macroeconomics variable.   In Ghana economy for instant, the monetary policy  rate( MPR) is expected to influences the market interest rate  and inflation rate through several channel with aim of stabilizing currency,creating jobs and to support economies growth.The current reduction in MPR is a direct response to the reduction in inflation from 18.7%(2016) to 13.2% in February 2017 which obvious affect individual, financial institution and businesses in divert ways Effect on the Economic

Faced with budget deficits and increased funding demands, governments around the world are examining transfer pricing practices in order to find additional revenues. In light of this environment, these are the top six transfer pricing issues that multinationals should consider:     1.       Have you appropriately assessed your level of transfer pricing risk? Many factors can affect the level of a company’s transfer pricing risk, and it is critical to gain a clear understanding of where your transfer pricing risk lies in order to mobilize the appropriate resources to mitigate such risk. Some factors to consider may include (but are not limited to): ·           Transaction size . $1 million transactions are likely to receive much greater scrutiny than $100,000 transactions. ·                Nature of the transactions . The tax authorities will perceive that transactions involving intangibles involve higher risk than sales of inventory. ·             Tax attributes of t

The dawn of the mobile or cell phone has brought more bonding among family members and friends. The small, handheld device has done wonders in the lives of mankind more than many other inventions. This communicative device has made man become his brother’s keeper. Mobile Money Today, the mobile phone is used for many good and bad things. One of the good uses of the mobile phone is for business transactions in diverse ways. Mobile Money businesses come in many ways and have begun to transform the traditional ways of transacting businesses and transmitting money. People are now walking with their money digitally. Current Challenges of Mobile Money Business Great and convenient as mobile money transactions might be for both customers and merchants, several times pleasant business transactions have not been experienced due to many factors hindering the mobile money business. ·          No Network, in Ghana this is a common practice experienced by customers, who do busi

        The current international tax agenda relies on two building blocks: tackling tax avoidance via the OECD/G20 Base Erosion and Profit Shifting (BEPS) project; and promoting transparency and exchange of information among jurisdictions for tax purposes. Today we are at a crucial juncture. After all, building universally acceptable tax solutions would be pointless without global implementation.     The international debate on taxation first went global in 2009, when at the height of the crisis; the   G20  declared that bank secrecy was over and committed to take action against non-co-operative jurisdictions, including tax havens. Countries around the world agreed to fight cross-border tax evasion together by committing to the international standard for exchange of tax information on request developed by the OECD, and by joining the restructured Global forum on Transparency and Exchange of Information for Tax Purpose. The Global Forum has enabled rapid implementation of th

  Mobile money has becoming a powerful tool for building more inclusive, stable, and secure financial sectors. The potential of mobile technology to improve people’s lives is growing exponentially as mobile network operators (MNOs) expand digital connectivity and bring more people in emerging markets into the mobile network. The full potential of mobile money has not yet been realized, with 2.5 billion people in developing countries still lacking a viable alternative to the cash economy and informal financial services. 1.7 billion mobile phones users, but the mobile money industry has found it challenging to launch and scale services for the unbanked because yet many policy and regulatory environments are not genuinely enabling.   As awareness grows that financial exclusion is a source of risk for the financial system, the global Standard Setting Bodies (SSBs) are embracing the goal of full financial inclusion, recognizing that it reinforces the objectives of financial stab

Recent studies have shown that a focal point for executives this year is strengthening existing customer relationships. The old adage is true; it is much more expensive to attract a new customer than it is to retain existing customers and foster those bonds. Technology is key to enhancing those relationships, and many organizations are further leveraging the capabilities of their customer relationship management system (CRM) to reach those goals.  CRM is a tool used to better understand who your customers are and what they desire, giving you a database that you can use to track activities and enhance relationships. It starts with understanding how your customers interact with you, buy from you and are served by you. It is very difficult to enhance a relationship without those details and the drivers behind those activities. By utilizing available information, your CRM platform becomes the foundation of your efforts to build upon your existing relationships. The following three C

The rapid growth of emerging economies in the past decade has lifted hundreds of millions of people out of absolute poverty and reduced income disparities across the world. At the same time, until the financial and economic crisis of 2008, most other economies were expanding too. However, within the OECD and emerging economies not all regions or people benefitted equally from the growth years. On the contrary, the distribution of income tended to become more unequal.   Since the onset of the crisis, these trends have increased the salience of “fairness” in political debate in many countries, in terms of both equality of opportunity and of outcomes for household incomes and consumption. While few doubt that fairness is important, interpretations of what is fair differ and may in part reflect historical norms for the distribution of income, which can differ widely between countries. That said, over the longer term too much inequality may be inimical to growth.    Tax p

  The 2008 global financial crisis not only marked the end of the the benign credit environment, it also change the way corporate client and their bankers views transnational banking.Sound transnational banking practices like payment, receivable and reconciliation and trade risk instrument moves back to the center of corporate client business agenda increasing competition for better products offering         Visibility of information become critical as clients sought real time access to their global cash position in order to manage their working capital requirement and liquidity..Equally, international trade products become more important in managing risk and banks are seeking more annuity-based revenues with lower capital cost and less capital consumption while regulator are drafting raft to prevent another collapse.         In Africa, both corporate client and banks have had to invest in technology and operation supporting the centralization of treasury function while delivery