Kpmg Software Guide

[Adam Makin]

Theseguides will help you to prepare and present your financial statements in accordance with IFRS Accounting Standards by illustrating one possible format for financial statements for a fictitious multinational corporation and identifying potential disclosures required.

Many companies are likely to be facing challenges in these uncertain times. External events such as natural disasters, geopolitical events and inflation continue to drive uncertainty across the globe.

Preparers should carefully evaluate and consider the impact of external events on their 2024 interim financial reporting and provide an update to relevant, company-specific disclosures since the last annual reporting date.

Our Financial reporting in uncertain times resource centre includes articles, blogs and podcasts to help you better understand the accounting and disclosure implications for your company. See specifically the article What is the impact of external events on interim financial statements?

To achieve connectivity in both interim and annual reports, it is important that companies both comply with relevant standards and connect the dots between financial and non-financial information. For a consistent story across its reports, a company:

Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis--vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

This edition of the KPMG Audit Committee Guide (the Guide) draws on insights from our interaction with thousands of audit committee members, audit and governance professionals, and business leaders across the country and around the world.

Our hope is that this Guide will serve as a resource for audit committees to continue to fine-tune their oversight and governance processes and drive robust conversations to deliver effective oversight as they help guide their companies forward.

Some or all of the services described herein may not be permissible for KPMG audit clients and their affiliates or related entities.

The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. KPMG LLP does not provide legal services.

2024 KPMG LLP, a Delaware limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.

As well as our handbooks on individual standards, our guides to financial statements and our practical guide Insights into IFRS, we also include our high-level guides on current issues in financial and sustainability reporting.

Using Q&As and examples, our updated guide explains in detail the accounting for general employee compensation, nonretirement post-employee benefits, retirement benefits and employee stock ownership plans (ESOPs).

The approach to compensation packages can change rapidly to match movements in the marketplace. The prevailing trend when we first published this Handbook in 2021 emphasized offering incentives to retain and attract employees. In only a few years, economic and social factors, including low attrition, have moved the focus to termination benefit packages as companies downsize and restructure.

And then there are the fluctuations in financial markets that can make it more difficult to project the cost of benefits promised to employees in the future. This too can lead companies to consider changing benefit plans to lessen earnings volatility. More and more companies are moving to a defined contribution retirement plan model, such as a 401(k), to reduce the exposure and uncertainty around funding defined benefit plans.

The Alternative Investment Management Association (AIMA), with KPMG and leading digital asset investors and industry experts, has added to its wide-ranging sound practice toolkit with the publication of a new industry guide on digital asset trading for institutional investors.

The guide aims to provide an overview of the digital asset trading ecosystem and lifecycle, as well as highlight some key enterprise risks and due diligence considerations for institutional investors determining whether and how to trade digital assets.

AIMA draws upon the expertise and diversity of its membership to provide leadership in industry initiatives such as advocacy, policy and regulatory engagement, educational programmes and sound practice guides. AIMA works to raise media and public awareness of the value of the industry.

AIMA set up the Alternative Credit Council (ACC) to help firms focused in the private credit and direct lending space. The ACC currently represents over 250 members that manage US$800 billion of private credit assets globally.

KPMG firms offer a wealth of experience in the digital asset space, having collaborated with numerous industry clients and governments, including Central Banks, Exchanges, and leading Financial Institutions. The global network of KPMG professionals, present across 143 countries and territories, is equipped to provide advice and support across a broad range of cryptoasset and blockchain services spanning Advisory, Audit, and Tax. With a proven track record of delivering effective services and technology solutions in the digital asset-related projects space, KPMG firms have a deep understanding of the complexities and nuances involved.

KPMG firms aim to provide tailored services of the highest standard. KPMG professionals are focused on building trusted relationships and delivering quality output through project teams that can support you from anywhere in the world, whatever your investment activity.

KPMG firms operate in 143 countries and territories with more than 265,000 partners and employees working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. Each KPMG member firm is responsible for its own obligations and liabilities.

Fire up your synapses and put your exceptional mind to work, harnessing the power of data and emergent technologies to crack complex business challenges. Work as a team with some of the brightest minds on campus. Bring your brilliant ideas to life as you compete with teams from across the U.S., with the winner going on to our global training program in Europe.

Once successfully receiving an internship offer, candidates are invited to take a closer look at KPMG. A select number of candidates will be extended an invitation to join our Global Advantage program.

Our award-winning Global Internship Program (GIP) gives top college students the opportunity to work abroad and see what it takes to be a global professional. After starting your GIP internship at a KPMG office location in the U.S., you'll spend four weeks on assignment with international teams on major client accounts, with a global support network there to guide you every step of the way. KPMG clients and the capital markets are becoming more international every day, and the GIP is a great first step for professionals of the future.

We designed the Embark Scholars Program to help high-performing students begin their career journey with the tools to be the KPMG leaders of tomorrow. This internship offers industry-leading technical and professional development training across all KPMG service areas and more. Candidates should be pursuing degrees in accounting, taxation, finance, information technology, computer science, engineering, management information systems, or equivalent programs. Additionally, candidates should demonstrate a commitment to diversity and inclusion, and students from a traditionally underrepresented racial and ethnic minority group within the professional services industry are encouraged to apply.

Today's global business demands sharp intellect, fresh creativity, analytic ability, and strategic thinking. That's why a career in public accounting with an innovative firm like KPMG is the perfect place for individuals completing MBA or JD programs.

At KPMG, we recognize the tremendous value advanced degree candidates bring to our firm and our clients. While most would recognize us as one of the Big Four accounting firms, we also provide exceptional opportunities for MBA, experienced Masters, PhD, and Law candidates across our different functions.

Working for KPMG means you get the best of both worlds; dynamic and challenging consulting opportunities, with the ability to tap into the client base, industry and organizational expertise, as well as the vast resources of a multi-functional and international firm.

Entering the professional world means not only having the knowledge but also acting the part. To succeed you need to have the technical skills to do your job, but you also need to master soft skills, such as communication, working with others, integrity, and enthusiasm. All of your actions both online and off, impact your personal brand. Companies are looking for their future team members and need you to show them through your attitude, actions, and interview that you are ready to go and represent them accordingly.

Rise up and make your mark with KPMG! Our Rise Leadership Conference is redefining how KPMG engages and supports inclusivity. Participants enjoy a variety of scholarship and career opportunities, a multiday summer leadership conference, and more.

HBCU Talent+ is a leadership program at KPMG Lakehouse where HBCU students will participate in engaging sessions, learn about our commitment to DEI, and hear from KPMG professionals about our culture and the exciting career paths that exist within a professional services firm.

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