Foreword
I am pleased to share three articles by our esteemed partners. These make good reading and are quite informative on areas the firm is working on. The first article in a nutshell talks to the key strategic areas that would underpin the success of family businesses. Future proofing continued success and longevity of family-owned business must be viewed from a business lens in a PNG setting.
We also delve into new Mandatory Sustainable Reporting. International Sustainability Standards Board (ISSB) has published two IFRS Sustainability Disclosure Standards. These are global standards which came into effect on 1 January 2024. PNG will have to adopt these standards if we are to remain in conformity with global climate-related financial disclosures. A great read on what’s coming.
On the technology front we discuss KPMG’s KymChat AI tool and how it can assist your business. This is an evolving space with practical AI applications and tools being used to support clients. Watch this space.
KPMG in PNG has dedicated in-house locally based specialists in all of the following areas: cybersecurity and technology advisory, internal audit/risk, visa migration, corporate finance, management consulting, fraud investigation as well as tax, audit readiness, financial statement preparation, payroll services, and assurance. As such we are well placed to provide a truly multi-disciplined approach to business advisory
Family business success
Family businesses are unique. At the centre of this difference is the family dynamic, from family, business and ownership; all of which can all play a significant role in decision making and offers both opportunities and challenges. The growth and sustainability of a family business lies in the fine balance between the needs of the business and the expectations of family members.
Other topics covered include:
- Mandatory sustainability reporting is coming
- KPMG's KymChat AI tool and how it can help your business
Our social media presence
As usual, you may access our regular multi-disciplined thought leadership pieces, newsletters, and updates on our KPMG PNG LinkedIn page. Also, connect via our webpage www.kpmg.com.pg and Facebook https://www.facebook.com/pngkpmg/
Enjoy the read this month and reach out with any enquiries at kmcentee@kpmg.com.au if you would like to see KPMG cover specific topics in future editions.