2012 - Page 2 of 19

Is your company prepared for the rise of the Asian consumer?

If your company does business overseas, you are about to feel the rapidly rising influence of the Asian consumer. Is your company prepared for this economic shift?

Technology guidance abundant in COSO internal control proposal

Technology considerations are significantly expanded in the Committee of Sponsoring Organizations of the Treadway Commission’s updated internal control framework proposal. When issued in the first quarter of 2013, the framework will include significant guidance on how to manage risk while capitalizing on the benefits of technology in the era of big data.

CPAs continue to forecast storms ahead for US economy

For the third consecutive quarter, CPA decision-makers in the United States have lower optimism regarding the economy at home, according to the latest AICPA Business & Industry U.S. Economic Outlook Survey. Political uncertainty reigns, even after the presidential election.

Struggling European nations seen as more corrupt, report shows

Transparency International’s annual Corruption Perception Index shows that several countries in the Mediterranean region – including Greece and Italy for mainly financial reasons and Egypt for political ones – are seen as being more corrupt.

Nine tips for effective MD&A reporting

Deciding what to include in a management discussion and analysis report can be a difficult task. Follow these tips to aid effective reporting.

Tackling Russia’s talent problems can offer big rewards for business

Few multinationals can resists the lure of big, fast-growing BRIC markets such as Russia. Educational attainment in the country is good, but with the market economy still comparatively new, a hangover of old cultural attitudes persists. There is a dearth of leadership skills and employees seek short-term pay hikes over long-term career development. In the first CGMA panel discussion in Moscow, finance leaders from top companies address the talent challenge in emerging markets.

Accounting standard-setters’ union fragile amid US indecision on IFRS

IASB Chairman Hans Hoogervorst used a speech as an opportunity to push for the US Securities and Exchange Commission (SEC) to allow US public companies to adopt IFRS for their financial reporting. On the same stage, FASB Chairman Leslie Seidman said US financial reporting needs clearer guidance than the IASB has offered.

Annual reports: When growth isn’t good

Annual reports continue to get longer but not necessarily better, a Deloitte UK report indicates. The survey shows that while the quality of reports has risen, so too has the quantity, and that’s not always a good thing.

Where private-equity firms are looking for high growth

Private-equity firms can no longer generate adequate returns for their investors by just leveraging debt and financial engineering. So they’re looking for untapped growth opportunities. A new survey reveals where they think they have found them.

Foreign investors not scared of Europe, but more selective

The ongoing euro-zone crisis hasn’t scared foreign investors away from Europe, but it has made them more selective, according to Ernst & Young research.

Flex schedules matter more to workers, and employers are listening

More workers are asking for benefits such as flexible work schedules and flexible work locations. Two recent surveys, and a shift in UK governmental policy, highlight the trend toward giving employees more of what they want. This results in higher levels of employee engagement and retention.

Online shopping sends business productivity down the Amazon

Business productivity may be suffering as employees eager to capitalize on online bargains shop on their office computers. Technology can help battle this productivity loss, but companies may have to be prepared for small losses of efficiency as a result of online holiday shopping.

The most business-friendly countries off the beaten path

Small and mid-size companies looking for business-friendly markets overseas could check out a World Bank report that tracks regulatory reform efforts in 185 countries. Many of the top improvers are rarely found among up-and-coming economies.

FASB, IASB tentatively change revenue recognition constraint

The cumulative amount of revenue entities recognise under a new converged standard should not be subject to a significant revenue reversal or downward adjustment under guidance tentatively approved this week by the International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB).

Ernst & Young: New approach needed to close information security gap

The “staggering” acceleration of change and complexity in technology and cyberthreats has organizations failing to keep pace in the information security race, Ernst & Young reports in its annual Global Information Security Survey. What can organizations do to bring their information security efforts up to speed? E&Y recommends a four-step approach.

Internal audit: The importance of being “soft”

Companies are increasingly turning to internal auditors to identify operational risks, provide business advice and analyse information at the speed of light. With so much on internal auditors’ plates, effective communication can easily be overlooked. Here’s a look at why communication is such a vital tool in an internal auditor’s armoury.

Canadian R&D tax credit programme relies on contingency-based fee arrangements

When a Canadian tax credit programme came under scrutiny because of potential conflict of interest issues, the Canadian Institute of Chartered Accountants polled its members. Survey results suggest that the contingency-based fee arrangements, which attracted the attention of lawmakers, were an important tool to make the tax credit programme work.

Former AICPA chairwoman named deputy president on IFAC board

Olivia Kirtley, CPA, CGMA, a member of the American Institute of Certified Public Accountants’ governing Council and former chairwoman of the AICPA board of directors, has been named deputy president on the board of the International Federation of Accountants, a global organization dedicated to strengthening the accounting profession. Her term

Tackle the talent gap by meeting five challenges

Finding and retaining the right talent hinges on five challenges companies must address, according to a new Ernst & Young report. Find out what high-performing companies are doing right and what they could do better.

Brush up on your anti-corruption controls

The US Department of Justice (DOJ) and US Securities and Exchange Commission (SEC) released a 120-page guide Wednesday providing a detailed analysis of the agencies’ approach to enforcement of the US Foreign Corrupt Practices Act (FCPA), which is designed to prevent bribery and corruption of foreign officials by companies seeking to gain a competitive business advantage.

Year: 2012

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