Exploring SOC 1, SOC 2, ISAE 3402, and Other Attestation Reports in the Channel Islands

Explore the key challenges facing business owners in the year ahead.

Asset tokenisation is the mechanism by which digital tokens are issued representing either digital or physical assets on a blockchain or distributed ledger system.

The UK government is soon expected to publish proposals which respond to the recommendations from three reviews of the UK audit market. Some of those issues are specific to the UK but some such as audit quality, use of technology in audit, and the auditor selection decision for large company audits are longstanding global issues.

Ransomware attacks are escalating – it’s a criminal industry already worth billions and it’s only going to get worse. Baker Tilly’s cyber security experts discuss common weaknesses and how best to prepare against the inevitable because it’s a case of when, not if, a business is hit.

Small and medium-sized businesses don’t have the power of a big firm or the agility of a digital start-up but they can’t afford to miss the revolution. Baker Tilly’s experts explore data-driven solutions for this critical sector of the economy in our digital transformation series.

Jersey’s 2021 - 2024 Government Plan was approved by the States Assembly on 18 December 2020. The purpose of the Government Plan is to bring together income and expenditure decisions to improve transparency of government finances. This year’s plan reflects actions taken in response to Covid-19 and the comprehensive plans being put in place to protect the Island’s future. This update, however, aims only to set out key tax measures.

The Baker Tilly network today announced combined global revenue of US$4.04bn for the year ended 31 December 2020, up 5% from 2019 at constant exchange rates. Across the year, global headcount increased to 37,000 people across 148 territories, reflecting our ongoing investment in and commitment to our people.

As we come out of lockdown, business leaders are faced with issues as diverse as ensuring the safety of employees and customers, shoring-up cash and liquidity, repositioning operations and navigating complicated government support programmes.

Persons who registered for tax in Jersey before 2006 will be on a prior year basis (PYB) instead of a current year basis (CYB) of tax. This means these persons pay their tax each year in respect of the previous year’s liability and not the current year.

COVID-19 presents real issues and practical difficulties insofar as the preparation of financial reports and accounts, and the carrying out of audits, are concerned