This March edition of Kundu will be the last where readers have the foreword authored by Zanie, with the passing of the baton to Ces Iewago. Ces will provide his commentary in future newsletters, which will no doubt be very insightful.
In this edition we continue with our discussion of artificial intelligence, especially ChatGPT, and some consideration of risks and benefits. ChatGPT has to be credited with co-authoring one paragraph in this edition.
In terms of the ever-increasing prominence of ESG for business, KPMG hosted a well-attended ESG seminar in early March at Apec Haus, where subject matter experts walked us through ESG as a concept and the associated considerations.
Taxation is always an important topic included in our monthly newsletters, and recently we met with the IRC to understand their progress with reforming the GST refund system and process. The IRC also announced the restructure of their leadership team this month, with the creation of three business arms. They have also launched a Certificate of Compliance (COC) self-validation mobile phone app on google play store.
In terms of statutory compliance the IPA has been moving to a new online registry system since November 2022, and one implication of this system requires reregistration by all companies.
Finally, and this may be met with mixed reviews: the National Payments Council has determined that private sector cheques will not be accepted after this calendar year, with electronic payment required going forward.
KPMG in PNG has dedicated in-house specialists in all the following areas: internal audit/risk, visa migration, corporate finance, management consulting, IT advisory, fraud investigation as well as tax and assurance. As such we are well placed to provide a truly multi-disciplined approach to business advisory.
Enjoy the read this month and reach out with any enquiries at email@example.com if you would like to see KPMG cover specific topics in future editions.
In this Month's Kundu
Chat GPT – the next chapter
by Zanie Theron, Managing Partner
In the February Kundu we discussed what ChatGPT is and its potential applications and advantages. One month on, developments in this area have progressed in leaps and bounds, to the extent that certain industry voices are calling for a slowdown in this space.
Other topics covered include:
- ESG – various shades of gree
- GST refunds
- IRC restructure
- Certificate of Compliance app launched
- IPA updates
- Private sector cheques end date
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
Please enjoy this month’s Kundu and reach out to us at firstname.lastname@example.org if you would like to see KPMG cover specific topics in future editions