Technology

CPAs will be influential in assisting private companies in adopting proposed SEC ESG Reporting Standards

Published

2 years ago

March 7, 2023

PRINCETON, N.J., March 7, 2023 /PRNewswire/ — Withum, a national advisory and accounting firm, identifies opportunities for CPAs to assist private companies with their ESG strategy development and execution. Joe Holman, Market Leader of Withum’s ESG Services, believes private companies should adopt elements of the SEC’s proposed ESG Reporting Standards and use their internal accounting or audit group to help them effectively implement and maintain their reporting structure.

“Viewing CPAs in a new way to help businesses reach ESG goals that consumers demand.”

Explore how to implement meaningful ESG and CSR practices.

“Private companies should consider their goals when defining their strategy for ESG impact,” said Holman. “Are you looking for investors? Satisfying customer demands? Or seeking to identify new opportunities in a low-carbon economy?” All establishments are under the microscope to share what actions they’re taking to create a more sustainable future because consumers, investors and employees want accountability.

Is ESG Reporting Necessary for Private Companies?

The SEC is expected to release new ESG disclosure requirements for public companies that will outline reporting guidelines. While private companies won’t be required to adopt, they can use the SEC’s framework to build or enhance their current ESG reporting model.

How Will CPAs Lead Effective Adoption of ESG Reporting?

“It’s a natural fit for CPAs to help support your ESG strategy and create controls – they already know your business, financial controls, reporting and finance team operations,” said Holman. CPAs can advise on creating a framework to collect, validate and report a company’s ESG activities and impact. They have the training to:

Apply AICPA assurance standards to define a company’s ESG framework.Identify critical ESG factors for your business.Create a data collection process.Provide internal control over the capturing, validating and reporting impact data and how it is shared.Implement a strategy to identify and quantify the impact of climate risk on the financial statements.

CPAs can issue review and examination reports on ESG activities like financial results. They can assist in capturing ROI on ESG activities like making a net-zero emissions pledge, implementing zero waste options and expanding company-sponsored social initiatives.

Established in 1974, Withum is a national top-ranking public accounting firm providing advisory, tax and audit services to businesses and individuals on a local-to-global scale. Headquartered in Princeton, NJ, Withum has a presence in major financial centers across the country. Withum is an independent member of HLB, the global advisory and accounting network. For more information, please visit www.withum.com.

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SOURCE Withum

Technology

Max Stock Limited Announces Change in Shares Held by an Interested Party

Published

3 hours ago

November 24, 2024

CAESAREA, Israel, Nov. 24, 2024 /PRNewswire/ — Max Stock Limited (TASE: MAXO(; )the “Company”, “Max Stock“) today announced that on November 20th, 2024, Phoenix Financial Ltd. and Phoenix Investment House Ltd. (“Phoenix reporting group”), including their respective nostro account, provident funds and provident fund management companies, as well as mutual fund management companies and market maker sub entities, informed the Company that they had sold shares of the Company thereby lowering their joint holdings to 4.8% of the Company’s issued capital (4.15% and 0.65% respectively). As a result, Phoenix reporting group will no longer be an interested party in the Company.

This is an English translation of segments of a Hebrew immediate report that was published on November 24, 2024 (Ref. No: 2024-01-618032) (hereinafter: the “Hebrew Version”). This English version is only for convenience purposes. This is not an official translation and has no binding force. In the event of any discrepancy between the Hebrew Version and this translation, the Hebrew Version shall prevail.

About Max Stock

Max Stock is Israel’s leading extreme value retailer, currently present in 64 locations throughout Israel and 2 locations in Portugal. We offer a broad assortment of quality products for customers’ everyday needs at affordable prices, helping customers “Dream Big, Pay Small”. For more information, please visit https://ir.maxstock.co.il

Company Contacts:

Talia Sessler,
Chief Corporate Development and IR Officer
talia@maxstock.co.il

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SOURCE Max Stock Limited

Technology

Qatar Development Bank announces strategic investment in global Islamic FinTech, Wahed

Published

7 hours ago

November 24, 2024

DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Qatar Development Bank (QDB) announces a strategic investment in Wahed, a global Shariah-compliant fintech.

Wahed currently manages over $1 billion in assets and has attracted over 400,000 clients worldwide. The company is built on the principles of democratizing access to financial services and offers clients access to Shariah-compliant investments in its mobile app. Wahed removes the barriers to sophisticated investment management services that have been traditionally reserved for high-net-worth investors.

Khalid Al Jassim, Executive Chairman of Wahed MENA said: ‘We are delighted to welcome our new shareholders, QDB. We believe Qatar is fully aligned with our mission in creating a technology-first Islamic finance leader that unlocks a financial ecosystem free from Riba. We look forward to supporting the Qatar National Vision 2030 of becoming a leading knowledge-based economy.

Ali Rahimtula, Partner at Cue Ball Capital said: “Qatar Development Bank’s strategic investment is a clear signal of the faith the industry has in Wahed and its ability to create the future of Islamic Finance.”

About Wahed

Founded in 2015, Wahed is a financial technology company that is advancing financial inclusion through accessible, affordable, and values-based investing. The company has made significant inroads in the world Shariah compliant investing by creating an easy-to-use digital platform that provides a suite of Shariah compliant investing products including managed portfolios and venture and real estate investments. Wahed caters to over 400,000 customers globally and manages over $ 1 billion in assets.

For more information, visit: www.wahed.com

About Qatar Development Bank

Qatar Development Bank’s mission is to advance the economic and innovation development cycle of Qatar, supporting and contributing to the nation’s economic diversification. As well as a focus on the development of Qatar’s private sector, QDB is a powerful catalyst for socio-economic development in the country, empowering the local economy and bettering living standards.

For more information, visit: https://www.qdb.qa/

SOURCE Wahed

Technology

Wahed appoints Khalid Al Jassim as Executive Chairman of Wahed MENA to help guide the strategic growth of Wahed in the region

Published

7 hours ago

November 24, 2024

DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Wahed, a global Shariah-compliant fintech, has appointed Khalid Al Jassim as Chairman of Wahed MENA.

On this appointment, Khalid commented, ”I am excited to guide Wahed’s growth in the region. Wahed’s mission of furthering Islamic Finance is one I resonate with deeply and I look forward to supporting its growth ambitions.”

Khalid has over twenty five years of investment banking and corporate advisory experience gained with some of the most innovative and groundbreaking institutions in the world.

His career spans leading firms including SABIC, Arthur Anderson and Arcapita Bank in Bahrain, where he was instrumental in making it into one of the PE powerhouses in the region. His responsibilities started in the earlier years with establishing the Investment Placement Team and transforming it into one of the most robust teams in the industry. At the time that Khalid left Arcapita to build his personal business, he was an Executive Director. Today he is Chairman of Afkar Vision, a private advisory house specialized in mergers and acquisitions with offices in Manama, Dubai and Riyadh.

As well as being one of the earliest investors in Wahed, he is currently Chairman of the Audit Committee and Board Member at Bahrain Islamic Bank, the 4th oldest Islamic Bank in the World and Board Member at SICO Bank and SICO Capital in Saudi, an $8bn asset manager in the region.

Mohsin Siddiqui, Wahed CEO said, “We are delighted to announce Khalid’s appointment. His unique understanding of the financial landscape in the MENA region is unparalleled and we are excited to bring this expertise in continuing to grow our presence in the region.”

About Wahed

For more information, visit: www.wahed.com

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