The best and brightest tax compliance minds squared off in New York recently to discuss the implications of Financial Interpretation No. 48, the unpopular new accounting rule requiring companies to disclose the uncertainty they have about their tax positions. The tone of the New York meeting left one theme clear: FIN 48 will remain controversial […]
Richard Meyer
Posted inAccounting & Auditing
Perils Of Chinese Operations And FIN 48
If Financial Interpretation No. 48—the new accounting rule forcing companies to estimate the validity of their tax strategies—is keeping you up at night, imagine what it’s doing to your friends, colleagues and neighbors who work with Chinese companies. Enacted by the Financial Accounting Standards Board at the start of this year, the unpopular rule specifically […]
Posted inFrom the Archive
Taiwan’s Great Governance Leap…Forward?
Taiwan has taken one small step forward in the name of corporate governance—but, at least for now, “small” is the key word. This month, the Asian nation, always an economic dynamo, put into effect new amendments to its Securities and Exchange Act. The law now says that certain companies must have at least two independent […]
Posted inFrom the Archive
In China, Stock Options Finally Taking Root
With share prices in China rising again, the economy booming, and the Shanghai Stock Exchange Index hitting five-year highs repeatedly this month, an exotic form of executive compensation is coming back into vogue in Corporate China: the stock option. Earlier this decade, options generated considerable interest in China, and indeed some were issued. Then, the […]
Posted inBoards & Shareholders
In Asia, It’s The Slow Boat To Proxy Reform
David Webb has made a career out of pushing for improved corporate governance in Hong Kong, working tirelessly for eight years as an advocate of better laws and best practices in finance in the Chinese territory. Consider his efforts with regards to proxy voting. To encourage companies to poll shareholders at their annual meetings (rather […]
Posted inFrom the Archive
Subtle Challenges Of Chinese Compliance
China has no shortage of regulation. It publishes laws, statutes, administrative guidance and “circulars” by the pound. And increasingly the government’s directives are becoming more clear and direct, as China lets corporations—both local and foreign—know what is officially required of them. Still, complying with the regulations the is far from simple, especially for non-Chinese companies […]