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2+ hour, 43+ min ago (276+ words) The Ministry of Labour & Employment has calmed the worries of employees to see a reduction in take-home salary following the implementation of the new Labour codes in a fresh clarification. The Ministry underlined that the new Labour Codes will not reduce take-home pay if PF deduction is on the statutory wage ceiling. Any PF contribution above Rs 15,000 is optional, not compulsory, the Ministry added. It means an employee's company can't force him/her for extra PF cuts beyond the legal limit unless they choose to contribute more. Earlier, the government notified the labour codes on November 21, 2025, marking one of the biggest reforms in India's work environment in decades. One of the major changes is the new uniform definition of "wages'. Under the codes, statutory social security benefits such as Provident Fund, Gratuity, and ESI will now be calculated based on…...

14+ hour, 54+ min ago (295+ words) BDO reported $11 billion in revenue, a 4% year-over-year increase. The Top 10 Firm's growth was led by its tax (7%) and advisory (4%) service lines. Audit and assurance lines increased 3% and 2%, respectively. Including its alliance firms, BDO reported $16 billion in global revenue, a 7% year-over-year increase. Europe, Middle East and Africa revenues increased 7% in 2025, with notable growth in France, Germany, the Netherlands and Switzerland. The Asian Pacific region saw stable revenue growth at 3%, and revenue in the Americas remained flat, with growth in the U.S. BDO earlier this year stated it would remain independent of external equity investment. At the same time, it announced the appointment of Trond-Morten Lindberg as incoming global CEO. Wayne Berson, CEO of BDO USA, is also stepping down as he retires, and Matt Becker will succeed him, effective July 1, 2026. The firm has over 94,900 employees across 870 offices globally. In August 2023, it announced…...

15+ hour, 58+ min ago (332+ words) Donald Trump could help Brazil fight organized crime by arresting the Florida resident accused of being the South American country's biggest tax evader, President Luiz Inacio Lula da Silva told his U.S. counterpart. "One of the major bosses of Brazilian organized crime " who is the country's largest debtor and a fuel importer " lives in Miami," the Brazilian president said Tuesday, referencing his phone call with Trump last week. "So if he wants to help, let's help by arresting that one right away." Grupo Refit did not immediately respond to a request for comment. Authorities have been working to dismantle a tax-fraud scheme at Refit, which denies the government's charges of tax evasion and says it's contesting its current tax debts in court. Operations at the company's Rio refinery have been suspended since September." Brazil is seeking U.S. help to combat organized crime,…...

17+ hour, 4+ min ago (589+ words) While much of this highbrow ruminating includes passing references to what this will mean for jobs, there has been limited analysis of how AI should reshape the way employees think about their work in the future. This is an oversight we cannot afford to make. But just as AI promises to change how business is done, we need to ensure a corresponding mindset change from the employee's perspective. We need "intrapreneurs." The concept of intrapreneurship dates back to 1978 with a white paper titled "Intra-Corporate Entrepreneurship" by'Gifford Pinchot III'and Elizabeth S. Pinchot. Since then, the concept has been examined and expounded on at various times, including Steve Jobs describing his MacIntosh team as intrapreneurs.' I have long advocated for internal auditors to embrace an entrepreneurial mindset. First in my book, "Agents of Change: Internal Auditors in an Era of Disruption," and again…...

19+ hour, 50+ min ago (535+ words) Target date funds are investment funds that hold a mix of investments, such as stock, bond, and other investments. They are designed to make investing for retirement or other goals more convenient by'diversifying your money among different investments and by changing the investment mix or asset allocation over time. As with anything you buy, there are fees and expenses associated with investment products and services.'These fees may seem small, but over time they can have a major impact on your investment portfolio. When choosing an investment or an investment professional, make sure you understand and compare the fees you'll be charged. Relationship investment scams involve a "long con" where fraudsters build trust through friendship or romance over time and then convince you to put money into phony investments. Fraudsters often initiate contact online or on social media platforms " including…...

20+ hour, 20+ min ago (344+ words) BDO reported 4% growth in global annual revenue to $11 billion for the financial year ending Sept. 30, 2025. The growth was led by BDO's tax (7%) and advisory (4%) service lines, followed by audit and assurance (3%) and business services outsourcing (2%).. When including firms in the BDO Alliance, global revenue exceeds$16 billion, an increase of 7% in terms of U.S. dollars (or 5% in terms of euros to "15 billion) compared to 2024 and a five-year compound annual growth rate of 9%. On a regional basis, revenues in Europe, the Middle East and Africa were up by 7%, with especially strong growth in France, Germany, the Netherlands and Switzerland. In the Asia Pacific region, revenue growth remained stable at 3%, with exceptional performance seen in India, Australia and Singapore. In the Americas, revenues were flat across the region, with growth recorded in the United States. Trond-Morten Lindberg has been announced as incoming global CEO,…...

21+ hour, 8+ min ago (600+ words) HSBC Holdings Plc is poised to pay around $300 million to settle a French criminal case into its alleged role in the "Cum-Cum" tax scandal that's embroiled some of the biggest banks in the country, according to people familiar with the matter. A proposed settlement with prosecutors from the Parquet National Financier is expected to be reviewed by a Paris judge at a court hearing in the next few weeks, said the people, who spoke on condition of anonymity. As part of the overall deal, London-based HSBC, which has a unit in France, has discussed a parallel arrangement to resolve a civil tax claim by local authorities. The full agreement would cover the fine to end the PNF case as well as the tax bill, said one of the people. That corresponds to the amount HSBC announced in an October filing…...

1+ day, 10+ hour ago (117+ words) Extension battle goes on; flipping out; correcting clients' misinformation; and other highlights from our favorite tax bloggers. Fun's in the journey " Public Company Accounting Oversight Board officials are sounding a cautious note about the spread of artificial intelligence and private equity at audit firms. The Chicago-based firm has acquired New York- based accounting firm Farkouh, Furman & Faccio. The most influential people in the field, as chosen by their peers. Pilot's Local Partner Program provides software and automation capabilities, as well as advisory services and sales enablement tools, to independent bookkeepers and accounting firms. HTL International netted the most new Securities and Exchange Commission engagements in the third quarter of 2025, followed by CBIZ and KPMG....

1+ day, 11+ hour ago (461+ words) The scale of these misaligned values is well documented. Some 86% of businesses report up to 30% of their monthly invoiced sales remain overdue even though automation has been proven to reduce Days Sales Outstanding by double digits. Further, nearly 85% of firms rely on partially manual AR processes despite the cost of delayed cash intensifying in an elevated interest-rate environment. Fortunately, AI is fundamentally changing the AR function, transforming receivables from a reactive process into a predictive one. What's missing isn't team capability but recognition that AR modernization solves the problems finance leaders deal with daily: cash flow predictability, customer retention and capital efficiency. Receivables are often treated as routine work post-sale, which means they rarely compete for investment against growth initiatives. On the contrary, research from McKinsey shows companies integrating predictive analytics into order-to-cash processes can improve working capital efficiency by…...

1+ day, 13+ hour ago (492+ words) Andersen Group Inc., the U.S. arm of the professional services firm that succeeded the shuttered accounting giant Arthur Andersen, is seeking to raise $176 million in an initial public offering." The company plans to market 11 million shares for $14 to $16 each, according to its filing Monday with the Securities and Exchange Commission." At the top of that range, Andersen would have a market value of around $1.75 billion based on the outstanding shares listed in its filing. The San Francisco-based company had net income of $65.7 million on revenue of $668.3 million for the nine months ended Sept. 30, compared with net income of $144.5 million on revenue of $589.2 million for the same period a year earlier. The consultancy was founded by former Arthur Andersen partners following that firm's collapse, the website shows. The current firm was launched under a different name in 2002 and adopted the Andersen brand…...