Rabu, 28 Maret 2012

Taiwan central bank leaves discount rate unchanged


Analyst says keeping the discount rate at 1.875% came as no surprise.
DBS Group Research said:
The Taiwan central bank (CBC) yesterday left the discount rate unchanged at 1.875% as widely expected. The CBC said in the policy statement that they will closely monitor the future inflation risks. This should be aimed at anchoring public inflation expectations amid the recent oil price increases, especially because the government is now mulling plans to hike electricity prices and adjust the domestic fuel-pricing mechanism.
The rhetoric on inflation does not suggest a rate hike anytime soon. As the growth recovery is expected to be moderate in the coming quarters, the pass-through effects of higher oil and electricity prices would not be significant and the underlying core inflation should stay largely stable.
Note that policymakers yesterday maintained a conservative view about the global growth outlook, and expecting domestic growth to be lower than last year’s because of the weakness in exports and investment. A resumption of rate hikes will require global recovery to continue (European crisis can be contained), and domestic growth to match the potential rate in a sustainable manner.
Our base case forecast is that the CBC will hold rates steady at 1.875% through 2012, before raising rates from 1Q13.

Source : Singapore Bussines Review 

ECONOMY | Staff Reporter, Taiwan
Published: 23 Mar 12

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Selasa, 27 Maret 2012

Internal Audit in the New Business Environment





The opinions and insights provided in this article are presented to stimulate further discussion and research in areas surrounding internal audit orientation, IFRS convergence, CSR activities, and ERM programs.  Although the number of CAEs interviewed is relatively small (11) raising concerns about generalization of the responses, the responses presented are both insightful and thought-provoking.  The limited sample size made structured interviews possible, resulting in more detailed responses to specific questions.  The high variation of the scope and activity of internal audit departments in the sample made face-to-face interviews the appropriate technique to obtain reasonable and meaningful responses.  In summary, the detailed responses presented help bring awareness to the issues surrounding the selected business topics, and that management, regulators, investors, and the internal audit profession will be better equipped to position the internal audit function and their companies in the business community.

SUMBER : http://www.accountancy.com.pk/articles.asp?id=206