FIDUCIARY ACCOUNTING FOR INTERNATIONAL CLIENTS AND CROSS-BORDER TRANSACTIONS
Abstract: Managing fiduciary accounting for international clients and cross-border transactions involves navigating complex financial landscapes and diverse regulatory environments. This study aims to (1) analyze the challenges faced by fiduciary accountants in handling international clients, (2) evaluate the impact of cross-border transactions on fiduciary accounting practices, and (3) identify best practices for managing these complexities. A survey research design was employed to gather comprehensive data from fiduciary accountants experienced in international finance. The sample size of 220 participants, calculated using Taro Yamane’s formula, ensures a robust dataset with a 95% confidence level and a 5% margin of error. The case study focuses on an international banking institution in Lagos, dealing extensively with cross-border transactions. The reliability coefficient score for the survey was 0.89, indicating high reliability. Findings indicate that fiduciary accountants must be proficient in international regulations and cultural nuances to effectively manage cross-border transactions. Recommendations include specialized training programs in international finance and the development of standardized protocols for cross-border fiduciary accounting.
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