KPMG to engage financial experts

Business Reporter
Financial experts are expected to meet in Harare next week to discuss topical issues related to financial reporting, regulatory environment and other matters affecting businesses in Zimbabwe.
The experts will be meeting on September 20. According to the conveners of the conference, KPMG, the meeting is strategically organised to shine the spot light on areas which may appear daunting to people who compile financial statements for their companies.

“Some of the topical standards impact the preparation of consolidated financial statements and determination of fair values for financial reporting purposes.

“In light of the revised listing requirements that are imminent, the chief executive officer of the Zimbabwe Stock Exchange, Mr Alban Chirume, will present the key highlights on what the financial statement prepares should expect,” KPMG said.

The company also said “the engagement will provide a platform for KPMG and participants to discuss topical issues related to financial reporting, the regulatory environment”.

KPMG said delegates will also discuss the new accounting standards, the ZSE listing requirements, key tax issues as well as the latest global and local economic trends.

“KPMG professionals, who make contributions to the International Accounting Standards Board, will help the delegates to cut through the complex new accounting standards that are effective for annual periods commencing on January 1 2013, that those companies will need to comply with when preparing their year-end financial statements,” the company said.

“Over the past decade, economic trends in Zimbabwe have been crucial to business operations. Without an understanding of the economic outlook, making sound business decisions is likely to be difficult.”

This discussion, KPMG said, will be led by an economist from the World Bank with knowledge on the Zimbabwean economy and will provide a forum to share ideas on issues that need to be implemented in the national policy to promote economic growth.

KPMG tax experts will address the highlights of the new Income Tax Bill and transfer pricing which is receiving increasing attention from the Zimbabwe Revenue Authority.

Zimra officials are expected to address specific technical matters. Other speakers expected to address the conference include Heather de Jonge, an associate director with the Department of Professional Practice in the KPMG South Africa office.