Michaela Merz


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South Korea – Internal control over financial reporting


I read shortly changes in South Korea about audit in financial reporting. I was fascinated about the increasing responsibilities and surprisingly penalties in case companies should not behave in line with the law. Whether or not we are getting step closer to full transparency and absolut correctness of reporting the future will show. Continue reading


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EU – proposal for the Definitive VAT system for Cross Border EU Trade


As part of the VAT action plan as launched on 7 April 2016, the EU Commission announced a legislative Proposal for the Definitive VAT system for Cross Border EU Trade. This proposal  introduces the cornerstones of the Definitive VAT system for Cross Border B2B EU trade[1]. Continue reading