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KPMG China's business newsletter

May 2009

Nowhere to hide: Why economic pressures are turning up the heat on fraudsters

One of the consequences of the economic downturn has been the revelations of devastating, long-term fraudulent practices, some involving billions of dollars, in organisations across the world. Companies need to be vigilant not only internally, but also externally. > learn more

investors devoting more time to due diligence

In a cautious M&A market, investors devoting more time to due diligence

A new KPMG study, entitled Due diligence in uncertain times, explores how due diligence practices are changing in the current bearish M&A environment. Due diligence is taking slightly longer on average since the onset of the financial crisis, a point cited by 64 percent of respondents to the KPMG survey. It is also becoming more detailed in certain respects relating to liquidity, quality of debt and the solvency of the target company.
> learn more

China's dawn as an outsourcing giant

Companies are directing more attention to the role that outsourcing can play. China is now emerging as a major centre for outsourced services, with a number of locations developing strengths in particular services and markets. > learn more

KPMG has joined hands with the Chinese Ministry of Commerce to promote service outsourcing in China > learn more

Clean Break: China and the Clean Development Mechanism

A Clean Break: China and the Clean Development Mechanism

China's authorities are acutely aware of the country's environmental challenges and its dependence on energy imports. An increasingly complex backdrop of policy and investment considerations is making it an ever greater challenge for companies and planners to build a modern, clean and integrated energy infrastructure. > learn more

Influenza Pandemic - How KPMG can help you protect your business operations


	Influenza Pandemic - How KPMG can help you protect your business operations. The key findings of a recent KPMG study indicated that employees felt they were not receiving sufficient business continuity and crisis management training. > learn more

KPMG China offers insightful reports on doing business in China and worldwide. They are available at www.kpmg.com.hk/library.

Featured newsletters:
1. CBA Guidelines on Corporate Social Responsibility
> more on China boardroom update issue 5

2. US International Tax Reform Proposals - Obama Administration's International Tax Proposals Announced
> more on Tax alert - issue 8, May 2009

	IFRS in Brief
	IFRS Briefing Sheet
	Defining Issues
	Financial Reporting Update

	China alert
	Tax alert
	General tax update

	China boardroom update
	Agenda

	Banknotes

	Securities Notes

	Insurance Notes

China

KPMG has produced the "Mastering Management: Managing in a Downturn" series in partnership with the Financial Times to help you succeed in these turbulent times. The series was launched in February 2009, but has continued to be updated with new content, including videos and interviews with leading corporate figures.
> Find more insights here

27/5 (HK): Minimise Your Tax Risks Under the New China Corporate Income Tax (CIT) Regime
> details

4/6 (HK): Foreign Exchange Control in China 2009 Funds Repatriation, Pitfalls and Opportunities in Utilisation of RMB in China > details

11/6 (HK): Corporate Social Responsibilities (CSR) in Turbulent Times - Luxury or Necessity?
> details

16-17/6 (SH): 2nd Annual China Summit on Anti-corruption
> details

> more events

1. KPMG's Audit Committee Institute (ACI) builds awareness around effective Audit Committee processes, and provides timely information about relevant corporate governance issues and challenges.
> ACI China recently suggested a list of topics for your agenda during times of crisis

2. It has been a year since the Sichuan Earthquake occurred on 12 May 2008. KPMG has been involved in various immediate relief and long term rebuilding programs during that time. Our people have also dedicated a total of 6600 hours in volunteering for the relief work.
> updates on KPMG's post-earthquake relief effort

3. KPMG China was honoured to have Robert Swan, OBE, to speak about environmental protection to our people in Hong Kong and Shanghai in May. Robert is a polar explorer, environmentalist and the first man to walk to both the North and South Poles. He recently led two KPMG people, Leah Jin and Brad Sparks, on the Inspire Antarctic Expedition.
> read more about Leah's trip to Antarctica and KPMG's Global Green Initiative

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