Accountants and Auditors in Kingston Jamaica

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Planning the Audit in a Digital Environment

July 11, 2025by Dr Dawkins Brown

In traditional audit planning, the scope was often defined by historical performance, organizational size, and industry-specific risks. Today, digital transformation has upended these conventions. With rapidly evolving technology stacks, integrated platforms, and real-time data flows, audit planning must adapt to a more dynamic and digitally complex landscape. Audit planning is no longer a one-time event...

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Digital Risk Assessment and Environment Analysis

July 11, 2025by Dr Dawkins Brown

Every successful audit begins with an in-depth understanding of the client’s business environment—its systems, operations, controls, and risks. In the digital world, this foundational step is both more complex and more critical than ever before. Organizations today operate within a landscape shaped by cloud infrastructures, automation, artificial intelligence, and cyber threats. For auditors, understanding and...

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From Disruption to Integration: How Fintech Is Entering a New Era of Sustainable Growth

July 10, 2025by Dr Dawkins Brown

The global fintech sector is at a pivotal moment in its evolution. Once defined by rapid expansion, bold disruption, and investor-fueled hypergrowth, the industry is now transitioning into a more integrated, stable, and sustainable phase. This new era emphasizes resilience, ecosystem collaboration, and value creation—hallmarks of a mature and enduring financial services landscape. For stakeholders,...

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The Role of Cloud Accounting in Enabling Financial Agility

July 8, 2025by Dr Dawkins Brown

From Back Office to Strategic Backbone Traditional accounting systems—locked into desktops, delayed by data entry, and dependent on physical files—are no match for today’s fast-paced business environment. As Caribbean enterprises expand, diversify, or seek investor confidence, they need real-time financial visibility, secure access, and scalable systems. Cloud accounting is not just a technological upgrade—it’s a...

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IFRS 17 and Jamaican Income Tax Law — Reconciling Global Standards with Local Regulations

July 8, 2025by Dr Dawkins Brown

The adoption of IFRS 17 Insurance Contracts marks a seismic shift in global insurance accounting. Designed to increase comparability, transparency, and risk insight, IFRS 17 introduces profound changes in how insurers recognize revenue, expenses, and liabilities. But for Jamaican insurers, there’s a twist: compliance with IFRS 17 must coexist with the framework of Jamaica’s Income...

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Investment Contracts with Discretionary Participation Features — Accounting Meets Tax

July 8, 2025by Dr Dawkins Brown

Under IFRS 17, certain investment contracts—those with Discretionary Participation Features (DPF)—fall within the standard’s scope, even though they may not transfer significant insurance risk. These contracts blur the line between investment management and insurance, and their treatment carries both accounting complexity and important tax implications. In its Technical Advisory, Tax Administration Jamaica (TAJ) has acknowledged...

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OCI and Taxation — The Unseen Impacts of Insurance Finance Income Presentation Choices

July 8, 2025by Dr Dawkins Brown

One of the lesser-discussed, yet highly impactful features of IFRS 17 is the option for insurers to present insurance finance income or expense either in the profit or loss (P&L) statement or in Other Comprehensive Income (OCI). While this may seem like an accounting classification choice, it carries significant tax implications in Jamaica. The TAJ...

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Onerous Contracts and Tax Adjustments — What the TAJ Will (and Won’t) Recognize

July 7, 2025by Dr Dawkins Brown

One of the most transformative features of IFRS 17 is its treatment of onerous contracts—insurance contracts that are expected to generate a net loss over their coverage period. While IFRS 17 mandates immediate recognition of losses from onerous contracts, the Tax Administration Jamaica (TAJ) has issued firm guidance stating that not all of these losses...

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The Fair Value and Modified Retrospective Approaches — Choosing the Right Path to Transition

July 7, 2025by Dr Dawkins Brown

The adoption of IFRS 17 Insurance Contracts represents a transformational shift in how insurance companies measure and present their financial results. A critical challenge lies in how to transition from IFRS 4 to IFRS 17, particularly for existing insurance contracts. IFRS 17 offers three transition approaches: the Full Retrospective Approach, the Modified Retrospective Approach (MRA),...

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Unpacking IFRS 17: The Premium Allocation Approach (PAA) and its Challenges

July 7, 2025by Dr Dawkins Brown

A New Era of Insurance Reporting IFRS 17, effective from 1 January 2023, has redefined how insurance contracts are measured and reported globally. Replacing IFRS 4, this new standard aims to increase transparency, consistency, and comparability in financial statements by applying a uniform approach to insurance contract valuation. Among its key features is the Premium...

Newer Posts

Older Posts

From Disruption to Integration: How Fintech Is Entering a New Era of Sustainable Growth

IFRS 17 and Jamaican Income Tax Law — Reconciling Global Standards with Local Regulations

Investment Contracts with Discretionary Participation Features — Accounting Meets Tax

OCI and Taxation — The Unseen Impacts of Insurance Finance Income Presentation Choices

Onerous Contracts and Tax Adjustments — What the TAJ Will (and Won’t) Recognize

The Fair Value and Modified Retrospective Approaches — Choosing the Right Path to Transition

Unpacking IFRS 17: The Premium Allocation Approach (PAA) and its Challenges

June 3, 2026Board Minutes and Tax Substance: Why Documentation Can Make or Break a Holding Company Structure

June 3, 2026When Is a Holding Company a Conduit? Understanding Beneficial Ownership and Anti-Avoidance Risk

June 3, 2026Substance Beats Formality: What the Milan Tax Court’s Luxembourg Holding Ruling Means for Cross-Border Tax Planning

June 1, 2026The Hidden Systems Challenge of IFRS 20: Why Data, Controls and Audit Readiness Matter

June 1, 2026IFRS 20 and EBITDA: Why Lenders, Investors and Boards Must Pay Attention

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