Some time ago, we started to present the upcoming amendments to Directive 2023/2225 of the European Parliament and of the Council on credit agreements for consumers (hereinafter “the “Directive”) and the types of services it regulates. The purpose of the Directive is to promote responsible and prudent borrowing. Informative, open and fair advertising is an essential element in achieving this aim, but it is particularly important to ensure that consumers are fully informed before they enter into and sign an agreement.
Outsourced accounting has long been a strategic choice for companies looking to optimise their processes, cut costs and get professional financial support. As we enter 2025 and look to the future, the accounting industry is undergoing major changes driven by technological advances, changing customer demands and global trends. Let's take a look at the key directions that are shaping the future of outsourced accounting.
On taking a closer look at the findings of PwC’s corporate cyber resilience survey 2024 (Global Digital Trust Insights Survey) I realise that business leaders are greatly concerned about the potential costs of cyberattacks. These include a potential ransom payment in the event of a ransomware attack, system recovery, and potential compensations to customers for the company’s inability to supply its goods or services while it’s dealing with the consequences. Small companies may find such costs unaffordable.
At the end of 2024, PricewaterhouseCoopers (PwC) conducted a survey among Baltic CFOs to understand the key priorities, trends and challenges in the area of finance function management. CFOs from Latvian, Lithuanian and Estonian companies representing different types of organisations – private companies, listed companies, state and municipal capital companies - took part in the survey.
AI agents are a hot topic in the world of technology now. They represent a new breed of existing AI solutions that aim to automate processes and improve efficiency by providing each employee with a personal assistant. Over the past year, AI tools such as chatbots have become an integral part of everyday life. In a survey conducted by PwC in August 2024, 73% of respondents stated that they already use chatbots such as Microsoft's Copilot and ChatGPT daily or plan to use them. At the moment, however, the focus is increasingly on AI agents that combine a range of the skills of chatbots with broader automation and personalisation capabilities.
The digital transformation has not only created opportunities for companies around the world but also new possibilities. One of the most topical developments is the introduction of electronic invoicing, which offers significant benefits, such as cost reduction, process automation and improved accuracy. However, e-invoicing can also be full of challenges; and organisations need to decide whether to develop an in-house solution or use outsourced services. In this article, we will look at the nature, benefits and challenges of both approaches to help organisations make a considered decision.
State aid and competitive neutrality are the two important principles for public entities that must be respected to ensure the fairness and efficiency of their activities in the market. These principles are essential to prevent market distortions and promote fair competition between public and private companies. While these concepts have recently gained more attention, their interactions have not yet been sufficiently explored. This article discusses how they influence and complement each other.
Directive (EU) 2023/2225 requires businesses to provide fair treatment and transparency in their loan ads and credit agreements, promoting the protection of consumer rights and the efficiency of the single market.
E-invoicing is becoming an important tool for businesses around the world, boosting efficiency, reducing the likelihood of errors, and securing tax compliance. Yet companies that have chosen to outsource their accounting function are not sure about who is to take responsibility for implementing and managing e-invoices. This article examines key roles, responsibilities and principles of collaboration that will help companies implement an e-invoicing system successfully.
Central and local government agencies have been required to create accessible Web content since 2016. This is prescribed by Directive (EU) 2016/2102 of the European Parliament and of the Council of 26 October 2016 on the accessibility of websites and mobile applications of public sector bodies passed in 2016. However, studies suggest that it’s still very difficult for people with disabilities to access information in the way they need. For example, in August 2024, having surveyed 15 websites run by central and local government agencies, the Ombudsman found that none of them is fully accessible to people with disabilities. In this article we will explain what accessibility is and why it’s important for businesses, as well as exploring the essence of accessibility to digital resources and services, the rationale, legislation, practices and recommendations for providing accessibility successfully.
As part of adopting the yearly national budget, Parliament passed several key tax amendments in their final reading on 4 December 2024, which are in force but will apply from 1 January 2025. In this article, we look at the most important changes affecting people and businesses, with changes to personal income tax (PIT) and other taxes.
In the digital age, with technology becoming the basis for business process transformation, the synergies between e-invoicing and AI offer great potential for improving efficiency, accuracy and compliance. Yet the rapid evolution of AI technology increases the need for a clear set of rules to secure ethical practices and data protection. In this article we look at how the integration of e-invoicing and AI technology changes business operations, what the main challenges are, and what aspects organisations need to consider when adapting to the evolving regulatory environment.
The role of employer image in attracting and retaining talent is becoming more and more important. However, the dynamics of trust are changing, with people putting more stock in personal suggestions and recommendations, as clearly demonstrated by social media. The same message on a company’s social media and an employee’s private profile will have a different tone, reach and contribution. On average a personal post created by an employee can achieve a level of engagement twice or three times as much as a corporate post, thanks to personal contacts and more trust.
The integration of e-invoicing into your finance function can significantly improve its efficiency and accuracy. However, this digital development brings with it some new risks, particularly in the area of fraud. The growing role of technology in financial transactions causes organisations to strengthen their security systems and focus on modern fraud detection solutions. In this area, artificial intelligence (AI) has become a crucial tool that provides organisations with advanced methods for detecting, preventing and minimising fraud. In this article we explore how AI can detect fraud in e-invoicing systems and how organisations can benefit in practice.
As stakeholders increasingly expect organisations to demonstrate their commitment to sustainable and ethical operations, organisations are relying on innovative digital tools to make it easier for them to achieve their sustainability goals. Electronic invoicing (e-invoicing) is one of such tools. While e-invoicing may seem a merely technical function, it has a surprisingly important role to play in the sustainability space, helping organisations improve their sustainability and strengthen their governance.
