Latest news with #BakerTilly
The Star
13 hours ago
- Business
- The Star
Avillion's auditor flags going concern uncertainty
PETALING JAYA: Avillion Bhd has announced that its external auditor has flagged uncertainty over the hotel operator's ability to continue as a going concern in its audited financial statements for the year ended March 31, 2025 (FY25). In a filing with Bursa Malaysia, Avillion said auditor, Baker Tilly Monteiro Heng PLT, had highlighted that it had incurred a net loss of RM8.84mil and RM20.63mil in FY25 and recorded negative cash and cash equivalents of RM17.17mil and RM8.96mil respectively. This it said indicated the existence of a material uncertainty which may cast significant doubt about the group's and the company's ability to continue as a going concern. 'Our opinion is not modified in respect of this matter,' said Baker Tilly.
CNBC
2 days ago
- Business
- CNBC
Trump-backed 'big beautiful bill' unleashes billions for Big Tech. How four of our megacaps benefit
The "big beautiful bill" — championed by President Donald Trump and signed on Independence Day — is shaping up to be a windfall for Big Tech. The measure — officially called the "One Big Beautiful Bill Act," or OBBBA for short — restores three tax provisions from the 2017 Tax Cuts and Jobs Act (TCJA) from Trump's first administration. They are set to boost free cash flow (FCF) for megacap tech firms that are pouring billions and billions of dollars into building artificial intelligence data centers and specialized AI infrastructure. The OBBBA brings back (1) expensing for domestic research and development, (2) 100% bonus depreciation for qualified capital expenditures, and (3) a more flexible interest deductibility limit. These provisions don't lower statutory tax rates. But, as Morgan Stanley noted, they will accelerate deductions, which could potentially drive "effective cash tax rates back toward historical lows." That, according to the analysts, could "unlock billions of free cash flow" this year for companies, including Club names Amazon , Apple , Meta Platforms , and Microsoft , which all report earnings this week. While the OBBBA provisions are valuable for the entire business community, large tech firms, in particular, benefit, according to Morgan Stanley, due to "massive R & D (research and development) and infrastructure investment in areas like AI, compute, data centers, and cloud platforms." The analysts at Morgan Stanley estimated that tech companies' FCF — or cash a company generates from its operations after accounting for necessary investments to maintain or expand the business — "could inflect this quarter," as companies adjust to the new legislation. That extra liquidity will give them "more flexibility to continue to deepen their competitive advantage in Generative AI and deliver more free cash flow to investors," they wrote in a recent note to clients. A key feature of OBBBA's provisions is that they're permanent, which establishes greater policy certainty, according to Travis Riley, a principal tax firm Baker Tilly. "That makes it great for planning," he stressed, providing a more stable environment for where mega-caps' AI-driven capital investments can be allocated. This stability drastically differs from the temporary provisions under the previous TCJA that were set to eventually expire. "Everyone in the tax community knew this was horrible tax policy and that it was going away, but no one was sure about the timing and mechanics of it," explained Riley, who leads Baker Tilly's research and development tax credit services. Before the enactment of the OBBBA, the law required businesses to capitalize and take domestic R & D costs over five years instead of fully deducting those expenses in the year they were incurred. "Before this bill, we were probably the only first-world country that penalized companies to do research and development, which is interesting in the sense that the U.S. is one of the leading innovators," said Kunaal Patel, principal of tax services at Baker Tilly. Companies can now take that full R & D expense on those deductions, meaning, their overall cash liability "should decrease dramatically in 2025 and going forward," he added. Under TCJA's rules on bonus depreciation, companies were temporarily permitted to deduct 100% of qualifying capital expenditures upfront. But, that went down by 20% each year starting in 2023, resulting in a 40% depreciation level in 2025. As Morgan Stanley puts it, these OBBBA changes allow businesses to "now reliably factor full bonus depreciation into long-term capital planning and investment decisions." These two provisions together – R & D and bonus depreciation – "significantly lower current cash tax obligations by accelerating the timing of cash deductions," analysts wrote. TCJA also placed new limits on how much interest businesses could deduct. Initially, businesses could deduct interest expenses up to 30% on EBITDA (earnings before interest, taxes, depreciation, and amortization. Beginning in 2022, that limit tightened to 30% of EBIT, excluding depreciation and amortization. The OBBBA went back to 30% on EBITDA. According to the Tax Foundation , a Washington think tank, this change provides "tax relief for firms dealing with debt-financed investment in a higher interest rate environment." To be sure, while the OBBBA should boost FCF, investors should continue to prioritize the companies' fundamental drivers of cash flow generation, especially since the timing of these tax changes won't impact their generally accepted accounting principles (GAAP) earnings-per-share. In other words, these tech firms aren't fundamentally different companies just because they're getting billions in bonus free cash flow from these new tax treatments. Rather, it's a "timing benefit from the pull forward of future cash tax savings rather than a structural change in free cash flow generation," according to Morgan Stanley. This means these companies will recognize more cash flows upfront and less later. "The new bill should promote a lot of domestic investment by big tech and provide a positive trickle-down effect to the rest of the economy," Jeff Marks, director of portfolio analysis for the Investing Club. "Although, some of the boost to free cash flow is accounting-based, it should support the multibillion-dollar share repurchase programs of these large companies." Here's a look at how much and in what ways Amazon, Apple, Meta, and Microsoft (in alphabetical order) stand to benefit from the three major tax provisions of the OBBBA. AMZN YTD mountain Amazon YTD Amazon stands to be the "largest beneficiary" thanks to its massive capital spending on data centers, logistics infrastructure, and research and development, particularly in cloud computing. A Morgan Stanley analysis estimates that Amazon will see a $15 billion lift to free cash flow by 2026, with the benefit still reaching $11 billion in 2028. While some of this may be returned to shareholders, analysts say the real impact is in Amazon's ability to double down on next-generation investments. That includes everything from same-day delivery and robotics in its retail business, to chip development and infrastructure expansion in its Amazon Web Services (AWS) cloud unit. The OBBBA would also give Amazon room to scale its partnership with AI firms like Anthropic. "This is more likely to give Amazon the flexibility to continue investing in its moats, especially in areas like generative AI, logistics and grocery," analysts said. AAPL YTD mountain Apple YTD Apple is expected to get a $20 billion boost to FCF over the next four years, according to Morgan Stanley. That's equal to an average annual free cash flow tailwind of 4% — with the biggest benefit of about $12 billion coming in 2026, the analysts noted. While meaningful, this extra cash isn't likely to change Apple's steady capital return strategy, which includes roughly $25 billion in quarterly stock buybacks and modest dividend increases. Still, Morgan Stanley sees room for Apple to invest "on the margin," particularly in areas like AI infrastructure, iPhone manufacturing shifts, and new technology like health or robotics. The analysts said the bill gives Apple "more cash optionality," but expects most of its plans to stay the same. META YTD mountain Meta Platforms YTD Meta, too, would see a significant lift from the bill, with Morgan Stanley estimating an $8 billion to $10 billion increase in free cash flow through 2028. That's a 22% boost to the company's expected 2026 free cash flow — a strong figure for a company spending heavily in AI infrastructure. Analysts believe Meta is more likely to reinvest a good chunk of that tax benefit into its infrastructure buildout to support massive AI computing clusters. MSFT YTD mountain Microsoft YTD The OBBBA could boost Microsoft's free cash flow by $10 billion over the next year — a 12% jump from previous forecasts, according to Morgan Stanley. However, the analysts don't expect this to change Microsoft's game plan. With more than $80 billion already on its balance sheet and another $130 billion to $150 billion in annual operating cash flow expected, the company "is not cash constrained," they said. This suggests any extra funds might be used for opportunistic acquisitions under the current administration. (Jim Cramer's Charitable Trust is long AMZN, META, MSFT, AAPL. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
Yahoo
3 days ago
- Business
- Yahoo
Baker Tilly International adds new member firm in UAE
Baker Tilly International has expanded its global network of independent accounting and business advisory firms with the addition of a new member firm in the United Arab Emirates (UAE). The addition of the Dubai-based firm aims to bolster the company's foothold in what is considered a "key strategic market." In a statement, Baker Tilly highlighted the country's infrastructure, favourable regulatory environment, and diversified economy as factors providing a "dynamic" landscape for businesses pursuing growth. It further noted that clients stand to gain from the combination of local insights and the global network's best practices and specialised expertise, which are customised to address unique business challenges. Baker Tilly UAE managing partner Saad Maniar said: 'Joining Baker Tilly International is a significant milestone for our firm. In an era of rapid change and heightened client expectations, aligning ourselves with a strong global network will enable us to deliver even greater value to our clients. We are excited about the opportunities for knowledge exchange, collaboration and innovation.' Baker Tilly International CEO Francesca Lagerberg emphasised the importance of the MEA region to the network's global growth strategy. 'The expertise and reputation for quality demonstrated by our UAE firm aligns perfectly with our core values. It not only strengthens our capabilities in the region but also enhances our ability to support clients with cross-border needs through seamless, integrated solutions,' she stated. The focus on the MEA region was further highlighted last year with the appointments of Chakib Zaari, founder of Baker Tilly in Morocco, as regional chair for MEA, and Gagik Gyulbudaghyan as regional director. Their roles involve steering international business growth as well as advancing the network's services and capabilities across the region. "Baker Tilly International adds new member firm in UAE" was originally created and published by International Accounting Bulletin, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Forbes
18-07-2025
- Business
- Forbes
Navigating Readiness, Governance And Risk When Integrating AI
Ann Blakely is the managing principal of Baker Tilly's digital solutions practice, with a focus on modernizing legacy business models. For organizations striving to maintain a competitive edge, implementing AI solutions has become nothing short of a strategic imperative. Organizations are increasingly challenged to not only integrate these solutions into core business functions but to do so strategically and responsibly, ensuring they adhere to evolving regulatory standards and provide a strong return on investment. This requires both a thorough understanding of AI tools and a comprehensive approach that considers organizational readiness, robust data governance frameworks and security measures and ethical implications. Exploring the critical dimensions of AI adoption can provide organizations with the insight needed to prepare for, implement and manage their AI technologies in a way that is secure, responsible and aligned with long-term strategic goals. The Evolution Of The AI Landscape The AI landscape has evolved from foundational automation technologies to highly adaptive, autonomous systems that mirror human cognition. Initially, intelligent process automation (IPA) technologies, such as robotic process automation (RPA), were developed to augment repetitive and multistep tasks. AI, a subset of IPA, took things a step further with technologies beginning to learn, reason and make decisions like a human. This includes technologies such as: • Natural Language Processing (NLP): Systems that understand and respond to human language inputs, such as a large language model (LLM) like ChatGPT. • Machine Learning (ML): Systems that learn from data to make predictions. • Deep Learning: A subset of ML that introduced artificial neural networks capable of processing unstructured data and autonomously extracting features. From these technologies, GenAI emerged. It uses LLMs and generative adversarial networks (GANs)—a notable application of deep learning—to create new content (text, images, audio, etc.) based on learned patterns, revolutionizing content creation across industries. Building on these advancements, agentic AI introduced interactive, autonomous agents capable of performing complex tasks, adapting to anomalies in real time and continuously learning from new data. This shift marks a transformative leap in AI's evolution, moving from tools that assist humans to intelligent agents that collaborate with and augment human decision making. Preparing Your Organization: AI Readiness AI readiness is the foundation for any organization aiming to responsibly and effectively integrate AI into its operations, as it addresses an organization's ability to adopt, deploy and scale AI technologies in alignment with its strategic goals, workforce capabilities and technical infrastructure. Organizations should assess AI readiness across five key dimensions: 1. Opportunity discovery 2. Data management 3. IT environment and security 4. Risk, privacy and governance 5. Adoption Each dimension plays a critical role—from identifying high-impact use cases and ensuring data quality, to establishing secure systems, managing compliance and fostering an organizational culture of AI literacy and trust. Together, these dimensions provide a holistic view of an organization's preparedness to leverage AI safely and productively. Understanding and investing in AI readiness is essential because it enables organizations to move beyond experimentation and toward sustainable, value-driven AI adoption. Evaluating current capabilities across the five dimensions, identifying gaps and developing a tailored road map that aligns AI initiatives with broader organizational strategy ensures efforts are purposeful and well-integrated. Starting with small, high-impact use cases—particularly those involving manual or repetitive tasks—allows organizations to demonstrate value early, build momentum and scale AI initiatives with confidence. Risk Mitigation And Compliance Considerations Organizations need to deploy AI initiatives in a way that prioritizes safe and responsible AI usage. As AI tools have broad access to vast amounts of organizational data, a primary concern behind their deployment is the inadvertent exposure of sensitive, confidential or proprietary information, which can create serious reputational, financial and legal liabilities. Equally important is the current lack of data and AI literacy among workers. Without proper training, employees may misuse or outright resist AI initiatives. Regulatory pressures are also mounting, with both federal and state-level legislation on the horizon. While no comprehensive federal regulations currently exist, states like Colorado and Utah have already enacted laws, and others, such as California and Illinois, are advancing legislation focused on transparency, fairness and risk management. This patchwork approach has created a fragmented regulatory environment, requiring organizations to track and comply with varying laws at the state and industry levels. To mitigate these risks, organizations need to develop a robust AI governance framework and principles that guide safe use. These principles must align with organizational values and account for risks ranging from cybersecurity and regulatory concerns to operational errors and broader societal impacts. Establishing An AI Governance Program Much like traditional data governance, AI governance provides a structured framework to oversee the safe, ethical and compliant use of AI technologies. A comprehensive program should include: 1. Well-established policies, standards and ethical guidelines that are thoroughly reviewed and aligned with strategic goals and core values. 2. Clearly defined roles and responsibilities by assigning appropriate individuals to oversee AI initiatives and ensuring everyone understands their duties and point of contact for any AI-related inquiries. 3. Comprehensive risk and compliance frameworks that align with your regulatory landscape. 4. Standardized tools and architecture to ensure consistency in the development, training and integration of both proprietary and third-party AI models and systems. 5. Continuous AI model management practices to confirm outputs are fair, unbiased and aligned with organizational standards. 6. Robust observability practices to validate that AI models are functioning as intended and are being used correctly. Additionally, an AI governance program should be part of a broader change management and adoption strategy, empowering employees with the knowledge and skills needed to use AI tools responsibly. This includes improving AI literacy, setting clear usage guidelines and providing ongoing training. Ultimately, by taking a proactive, structured approach to AI governance, organizations can reduce operational, reputational and legal risks while fostering a culture of innovation and trust in AI-powered tools. Forbes Technology Council is an invitation-only community for world-class CIOs, CTOs and technology executives. Do I qualify?
Yahoo
08-07-2025
- Business
- Yahoo
Inomin Announces Final Approval of Beaver-Lynx Transaction
Vancouver, British Columbia--(Newsfile Corp. - July 7, 2025) - Inomin Mines Inc. (TSXV: MINE) ("Inomin" or the "Company") is pleased to announce that it received shareholder approval at its shareholder meeting on July 3, 2025 of its earn-in and joint venture agreement with Sumitomo Metal Mining Canada Ltd. ("Sumitomo") pursuant to which the Company granted to Sumitomo the right to earn up to an 80% interest in the Company's Beaver-Lynx project in south-central British Columbia (the "Transaction"). The Transaction received 99.9% approval from shareholders. The Company has also received final approval from the TSX Venture Exchange ("TSXV") with respect to the Transaction. At the meeting, the Company's shareholders re-elected all of the Company's current board of directors, John Gomez, Anil Jiwani, Ari Shack, John Peters and William Yeomans, and approved the appointment of the Company's auditor, Baker Tilly WM LLP. The Company's shareholders also re-approved the stock option plan in accordance with the requirements of the TSXV. For further details on the Transaction, readers are referred to the news releases dated November 4, 2024, March 6, 2025, May 8, 2025, and June 18, 2025. About Inomin Mines Inomin Mines is focused on the identification, acquisition, and exploration of mineral properties with strong potential to host significant resources, especially critical minerals, as well as gold and silver. Inomin trades on the TSX Venture Exchange with the symbol MINE. For more information, visit On behalf of the board of Inomin Mines: Inomin Mines Inc. Per: "John Gomez"President and CEO For more information, please contact: John Gomezinfo@ Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
