Good morning and welcome to this morning’s lowdown.
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In the News
The new Anti-money laundering regulations take effect today. The new rules are fundamentally the same. You can view the regulations here, and AML expert and AccountingWEB regular David Winch provides an overview here.
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Movie website Den of Geek investigates the creative movie studio accounting behind the 1969 classic, The Italian Job.
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The Co-operative Bank is no longer up for sale, pending an announcement on fund-raising proposals aimed at safeguarding its future. (BBC)
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The Accounting Blockchain Coalition has announced the formation of five working groups aimed to help guide the creation of global accounting standards and devise plans for helping regulators gain familiarity with blockchain's potential use in the industry. (Coindesk)
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On AccountingWEB
Here is a quick tour of what’s new on AccountingWEB.
What to expect from the Summer Finance Bill
The surge of company secretarial software
Over on the blogs, Adam Tavener looks at the different approaches that the Chinese and UK regulation take to ensure an orderly market and investor confidence
Over Industry Update, the accounting charity CABA outlines the habits you need to develop your listening skills.
And on Any Answers, AccountingWEB member Kat1984 asks: my client’s father passed away and had gifted her his home 4 years previously to her and her brother. What value can they use against the property as cost for CGT purposes? Join the discussion on Any Answers.