dglobal

As we cross the threshold into 2023, insurance companies worldwide are gearing up to adopt the International Financial Reporting Standard 17 (IFRS 17). This innovative standard replaces IFRS 4, which allowed insurers to continue using national accounting standards, leading to inconsistencies in profit recognition across the industry. IFRS 17, effective for annual reporting periods beginning on or after January 1, 2023, promises a more uniform, transparent, and detailed view of an insurer's financial position, performance, and cash flow.

Performance Management Systems (PMS) are vital tools in any organization, driving performance, enhancing employee engagement, and promoting accountability. However, the effectiveness of these systems can be undermined by inconsistencies and biases, causing a sense of favoritism. So, how can an organization maintain fairness and prevent favoritism when implementing a PMS? This article discusses strategies that can be utilized to ensure consistency, fairness, and transparency in the process.

Division Profile: Dawgen Global Technologies

The business landscape is continually evolving, with technology serving as the main driver of this change. Now, more than ever, a carefully crafted IT strategy is fundamental to business success. This article discusses a holistic approach to IT strategy development that comprises critical frameworks, success factors, project approach, organizational structure, and more.

As we continue to navigate through the complexities of the digital era, the role of Intelligent Automation (IA) becomes increasingly paramount. Businesses worldwide are leveraging IA to catalyze digital transformation, streamline operations, and drive economic growth. In the realm of accounting and finance, IA offers an array of opportunities to elevate the role of professionals, introducing efficiencies that create value beyond traditional transaction processing and financial reporting.

The evolution of the Basel regulatory framework has been nothing short of transformative in steering financial institutions toward risk management. Basel III, the third installment, heralds a new era in banking regulation with an objective to enhance the robustness and resilience of the banking sector. In this regard, we unravel the objectives of Basel III and investigate its implications on financial institutions' capacity to disburse dividends, short to medium term.

The business world is not short of strategies and frameworks that aim to guide organizations towards success. Over the years, these tools and strategies have grown exponentially, each presenting unique insights and perspectives. However, these can essentially be clustered into four main schools of thought: the Position School, Execution School, Adaptation School, and Concentration School. To navigate the intricate labyrinth of corporate strategy, let's delve into these four schools and explore how they collectively contribute to comprehensive business strategy.

The increasingly global and complex business environment has set high expectations for Boards and Directors to continually evolve and adapt. The pressure to raise their game remains acute, as highlighted by a recent survey involving over 770 directors from public and private companies worldwide. The results were mixed, revealing a striking divergence in how directors perceive their impact on boardroom activities and overall board effectiveness.

Business growth isn't a linear path, and success requires understanding this critical aspect. Entrepreneurs must recognize that businesses develop in distinct stages, and each stage comes with its unique challenges, requiring different management styles and strategic focus. The Five Stages of Growth Framework allows business owners to anticipate key challenges, evaluate the impact of regulations, and understand their involvement at various stages.