Tag Archives: Auditing

BKR International is the leading global association of independent accounting and business advisory firms representing the expertise of 160 member firms in over 350 offices and 75 countries around the world.

In this bulletin’s issue:
Chairman’s Letter
2015 Regional MeetingAgendas
Member Profile: Doshi, Chatterjee, Bagri & Co.(Kolkata)
Emerging India: Unleashing Boundaries
BKR Membership Update
Howard Rosen (St. Louis) and Stephen Roger (Sydney) Promote BKR in India
BKR in the Press
Niche News
Member News and Notes
Meeting/Telemeeting Schedule

Download the BKR Worldwide Bulletin March/April 2015

Five common judgment biases have the potential to influence financial statement preparers and auditors in their work. Learning how to spot and short-circuit these biases can help CPAs maintain their objectivity.

Decisions can be influenced by:
(1)relying on information that is most readily accessible (availability);
(2)focusing on a preliminary amount and making an adjustment (anchoring and adjustment);
(3)overestimating abilities (overconfidence);
(4)making interpretations that support preexisting beliefs (confirmation);
and (5)failing to consider all available data (rush to solve).

Using a professional judgment framework can help CPAs prevent biases from creeping into their work. Decisions also can be improved by “considering the opposite” or explaining why an initial assessment may be incorrect.

Read more about decision making and judgment bias that can affect accounting and auditing decisions in this featured article in The Journal of Accountancy

It is always pleasing to receive accolades and two awards were granted this year; one being the Acquisition International award for “Accounting Association of the Year – EMEA Region” and the other from the International Accounting Bulletin as runner-up for “Association of the Year 2014”

Abou Nasr and Associates is excited and delighted to join the BKR INTERNATIONAL EMEA Regional Meeting in Stockholm, Sweden, May 16-18.

Find out more about BRK International in the 2015 BKR Annual Report

“Lebanon came in 10th in the region and 94th worldwide in Natixis Asset Management’s retirement index for the year 2015, with a score of 50% in the index. In details, Lebanon scored 34% in the quality of life sub-index, the worse score in the region, while achieving a score of 69% in the health sub-index, the second highest score in the region.”

Find out more in the attached Credit Libanais Market Watch – Feb 9 2015 – Feb 13 2015

This information has been prepared to provide an overview of the business environment, forms of business entities, finance, taxation, and audit and accounting practices in Iraq/Kurdistan. It provides a broad summary of the prominent features of the topics discussed. This information is general in nature and should not be used as a substitute for detailed advice. Persons conducting, or planning to conduct, business in Iraq/Kurdistan are advised to obtain detailed information from experienced professionals.
This publication was written by Abou Nasr & Associates (Beirut) as of November 2013.
Click on the following link to read or download the guide: Doing Business in Iraq Kurdistan

We at Abou Nasr & Associates, independent member of BKR international, can help you set up any kind of business in Lebanon and we’d be more than happy to assist you should you have additional questions that are not answered by this comprehensive document. Don’t hesitate to give us a call, or leave us a message with your contact details and we’ll get in touch with you.

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