A look at how the world, including Hong Kong, has been navigating the BEPS project, the progress so far, and key successes of these international efforts
The International Monetary Fund’s (IMF) reduced global growth forecast for this year. It also cut its 2026 forecast to 3 percent, citing the impact of U.S. tariffs and rising trade tensions. This is lower than its projection in January, by 0.5 percentage point for 2025 and 0.3 percentage point for 2026, with downward revisions for nearly all countries, according to the IMF’s latest World Economic Outlook. The IMF called the report a “reference forecast” based on measures announced as of 4 April.
>95,000
The number of auditors worldwide who will benefit from the deployment of artificial intelligence (AI) agents into KPMG U.S.’s smart audit platform Clara, the firm announced in April. The AI agents will automate tasks such as data analysis and document review, enhancing audit quality and efficiency. A new Financial Report Analyzer AI engine provides AI-generated output to enable auditors in completing required disclosure checklists. KPMG plans to deploy more AI agents within the next year.
2nd
The number of auditors worldwide who will benefit from the deployment of artificial intelligence (AI) agents into KPMG U.S.’s smart audit platform Clara, the firm announced in April. The AI agents will automate tasks such as data analysis and document review, enhancing audit quality and efficiency. A new Financial Report Analyzer AI engine provides AI-generated output to enable auditors in completing required disclosure checklists. KPMG plans to deploy more AI agents within the next year.
A summary of the Institute’s response to the IASB Exposure Draft Equity Method of Accounting – IAS 28 Investments in Associates and Joint Ventures (revised 202x)
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