With one year to go until the effective date for sweeping changes to accounting rules with the introduction of IFRS 9 Financial Instruments and IFRS 15 Revenue from Contracts with Customers, the International Accounting Standards Board (IASB) has issued a recap on key changes and compliance costs

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Despite challenges including anemic world growth and volatile global financial markets, China pressed ahead with key reforms in 2016, had steady growth and improved its global influence. The following ten phrases recap the economic year.

The Commission has welcomed the entry into force of new rules to ensure that Member States have all the information they need on tax rulings given to multinational companies in other EU countries.