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FASB has decided to change the future direction of its own insurance contracts project, and will consider targeted improvements to current US GAAP. It will also limit the project’s scope to insurance entities, although contracts written by non-insurers may be added back as the project progresses. Read our Defining Issues report for a summary of recent developments.
On February 20, 2014, the U.S. Department of Treasury (Treasury) and the Internal Revenue Service (IRS) issued a regulation package containing regulations intending to harmonize the information reporting and withholding rules under chapters 3 and 61 of the Internal Revenue Code to the regulations under the Foreign Account Tax Compliance Act (FATCA). Highlights of those changes are provided in this report.
This annual report provides an overview of today’s regulatory landscape in Europe, the Middle East and Africa region and analyzes the details, outstanding issues and impacts on bank structure, conduct and culture, data and reporting and risk governance.
Commitment to our communities is fundamental to our values. The Corporate Social Responsibility agenda is to inspire, challenge and empower our people to make a positive contribution to local communities.
KPMG, a Cayman Islands partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity.All rights reserved.KPMG International Cooperative (“KPMG International”) is a Swiss entity. 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-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.