/EIN News/ LONDON, April 01, 2021 (GLOBE NEWSWIRE)
Horizonte Minerals Plc, (AIM: HZM, TSX: HZM) (‘Horizonte’ or ‘the Company’) the nickel company focused on Brazil, announces its final results for the year ended 31 December 2020.
Highlights:
Strong cash position of £10.9 million as at 31 December 2020 maintained and supplemented post year end through a £18 million placing in February 2021.
Significant progress made on the overall Project Finance package for the development of Araguaia.
A syndicate of five international financial institutions mandated for a US$325 million senior debt facility to part fund the development of Araguaia.
BNP Paribas, ING Capital LLC, Mizuho Bank, Ltd., Natixis (New York Branch), and Société Générale will act as the Mandated Lead Arrangers
ICAEW technical round-up: February 2021
icaew.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from icaew.com Daily Mail and Mail on Sunday newspapers.
Audit and fraud: all stakeholders must up their game 19 February 2021: Auditors can and should do more to address the growing scourge of fraud, but they are only part of the solution and a more joined-up response from other stakeholders is needed to make meaningful progress.
ICAEW’s response to a discussion paper from IAASB urges the international auditing standard-setter to engage with investors and companies as it considers how the International Standards on Auditing (ISAs) related to fraud and going concern should be updated.
In its representation, ICAEW argues that IAASB should focus less on analysing the expectation gap - the gap between public perceptions of the role of the audit and the auditor’s responsibilities in a financial statement - and more on the need for an intelligent, joined-up response from companies, investors, auditors, audit regulators and standard-setters. In other words, auditing standards are just part of the solution.
Annual Accounts 2020
The management report
[1] is an integral part of the ECB’s Annual Accounts and is designed to provide readers with contextual information related to the financial statements.
[2] Given that the ECB’s activities and operations are undertaken in support of its policy objectives, the ECB’s financial position and result should be viewed in conjunction with its policy actions.
To this end, the management report presents the ECB’s main tasks and activities, as well as their impact on its financial statements. Furthermore, it analyses the main developments in the Balance Sheet and the Profit and Loss Account during the year and includes information on the ECB’s financial resources. Finally, it describes the risk environment in which the ECB operates, providing information on the specific risks to which the ECB is exposed, and the risk management policies used to mitigate risks.
LCE audit reform plans take a step forward 18 December 2020: Plans for a simplified auditing standard for less complex entities moved a step closer this week after the International Auditing and Assurance Standards Board unanimously approved the project proposal and committed to publishing an Exposure Draft of the new standard in June next year.
The project proposal for a separate auditing standard for less complex entities (LCEs) was officially ratified at standards body the International Auditing and Assurance Standards Board’s (IAASB) December 2020 meeting, more than four years after the concept was first floated. The IAASB has already published a new communique, with details of current thinking on what the standard will look like, which entities it will apply to and the development timeline.
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