An increasing number of companies have been accused of making false accounting claims in their accounts.
The public accounting industry has been in turmoil following the scandal involving the Israeli accounting firm Atla, which was accused of misleading the public about the amount of foreign investment it made in the country.
This week, the government announced a new law aimed at preventing false accounting in the public accounting sector.
In its first order of business, the Finance Ministry announced the formation of an independent audit bureau to be headed by a chief accountant who will conduct independent audits of public accounting companies.
This new law is part of an overall government effort to combat fraud and abuse in the accounting profession.
The new law will also make it easier for private companies to be audited by the same government auditor, and the finance ministry plans to provide additional incentives for them to submit a public accounting audit.
In addition, the ministry plans for a special unit to help companies with accounting fraud, and an advisory board to be created to advise on the reform of public accounts.
But some experts are not optimistic about the new legislation.
They believe that the government will try to push for more changes in the future.
“The first part of the new law was very good.
It did not address any major problems with the public accounts, and it did not change the structure of the public account system,” said Yehuda Almoz, the head of the Institute of Public and Social Finance at the Hebrew University of Jerusalem.
“But now the government wants to amend the law to be even more lenient.
It is unclear what will happen in the near future.”
He added that some private accounting firms will have more difficulty in complying with the new regulation than before, as they have to submit audited accounts every two years.
In an effort to address these problems, the finance minister is planning to create a special public account unit.
This unit will be set up to assist companies in providing their public accounts with additional financial data, including audited reports.
The finance minister said that the new unit will have two main functions: To provide financial data to the public, and to inform them about the audit process.
“As the public accountant’s chief accountant, the public auditor will ensure that the public is informed about the status of their accounts,” the finance minster said.
“And the public should not be deceived.
They should be told how much money is in their account and how much is in foreign companies’ accounts.”
The finance ministry is also considering the creation of a special advisory board that will help private accounting companies to prepare for their audit.
The board, which will consist of senior accounting professionals from public accounting and tax authorities, will be responsible for developing a strategy for the future development of the country, and for advising the government on any issues that arise during the audit.
“I hope that the board will help us with improving the quality of the tax system,” the minister said.
Almozo stressed that the creation and establishment of this special advisory committee will be a step in the right direction.
“It will help to help our companies to have a better understanding of the requirements of the law and the regulations, and that we are able to provide them with a more timely and efficient audit procedure,” he said.
However, Almoza noted that the special advisory council is not a new idea, and has been proposed in the past by the finance and public accounts ministries.
He added, however, that the current legislation is still too restrictive, and is likely to be amended in the coming weeks.
“This bill will be passed into law in January 2019,” Almozosaid.
“We are confident that the ministry of finance will be able to pass it into law, because the ministry is not the one that is trying to push any reforms.”
In addition to the finance, the tax ministry is planning new tax incentives for companies that report a lot of foreign money.
The ministry is expected to introduce additional tax incentives to encourage companies to comply with the requirements laid out in the law.
“Currently, the new tax incentive is a tax credit of up to 5 percent on certain business expenses,” said a finance ministry official.
“Under this law, the incentive is extended to all types of businesses, regardless of their size, size and type of activity.
The goal is to create incentives for more businesses to be in compliance with the tax law, and this law is intended to support this goal.”