Year: 2014
UK FRC rejects call for companies to publish audit inspection grade
The UK Financial Reporting Council (FRC) advised companies not to publish the results of their Audit Quality Report, contrary to recommendations made by the Competition and Markets Authority (CMA) earlier this year.Internal auditors’ job satisfaction higher with incentive pay, survey finds
Internal auditors who receive incentives based on profits or revenue report higher job satisfaction and loyalty to their organisations without having their objectivity compromised, according to a new survey report.Defining roles in prevention of financial reporting fraud
Fraud-resistant organisations possess an ethical culture, encourage scepticism and have all participants in the financial reporting supply chain engaged in preventing fraud, a new report says.G20 leaders commit to automatic exchange of tax information
The leaders of the G20 economies agreed at their Brisbane summit to start automatically exchanging tax and financial information by the end of 2018.Ingredients of an effective audit committee
A popular session at the 2014 World Congress of Accountants in Rome explored the changing demands being placed on the audit committee and how to ensure committee members have the right blend of skills to effectively safeguard stakeholders.OECD outlines strategy to engage emerging markets in fight against tax base erosion
The Organisation for Economic Co-operation and Development (OECD) released a strategy for deepening developing-country engagement in its work to stop the erosion of national tax bases and the shifting of profits to jurisdictions solely to avoid paying tax.Evolving role of finance among top issues at World Congress of Accountants
In closing remarks at the World Congress of Accountants, Olivia Kirtley, CPA, CGMA, the new president of the International Federation of Accountants (IFAC), highlighted a key theme at the conference: Finance is increasingly taking the driver’s seat at businesses around the globe.How to meet the challenge of the open workforce
Access to a dynamic talent base of freelancers, contractors, and other external staff enables businesses to react faster to new opportunities and drive competitive advantage. But the open workforce model also brings challenges and risks with major implications for management strategy.Develop these skills to make the most of Big Data
A new CGMA report outlines the skills that finance professionals must develop to help their company take full advantage of Big Data to drive competitive advantage.Kirtley named IFAC president
Olivia Kirtley, CPA, CGMA, a member of the American Institute of CPAs’ governing council and former chairwoman of the AICPA board of directors, has been elected president of the board of the International Federation of Accountants.11 suggestions for making corporate disclosures more effective
Corporate financial reporting in 10-K annual reports mandated by the SEC can become more effective and useful to investors by implementing 11 recommendations, a new report says.How to take a forward-looking approach to cyber-security
To address an increasing number of threats, organisations need to take a more anticipatory approach to cyber-security, according to a new report.New guidelines coming for environmental reporting
A final consultation draft of a Climate Change Reporting Framework proposes guidelines for organisations’ reporting of environmental information.5 steps to bringing analytics to life
Business leaders need to have a clear analytics strategy that articulates key priorities and pathways to desired business outcomes. This article outlines the ingredients of a successful analytics framework and practical steps for implementation.US CEO pay grows at higher rate than CFO pay
Compensation for US chief executives is growing at a faster rate than compensation for CFOs, according to research by BDO. The energy sector had the highest pay rises for executives, and average pay in the retail sector dropped for CEOs and CFOs.Ethical performance moves up on the corporate agenda
Ethical performance is an increasingly important consideration for companies, and its prominence is set to grow further over the coming years, according to new CGMA research. Though the majority of companies do have an established policy on ethical conduct, many fail to regularly communicate it to their staff.51 countries sign up to automatically exchange financial information
The Organisation for Economic Co-operation and Development (OECD) announced that 51 countries have signed its Multilateral Competent Authority Agreement, allowing them to automatically exchange financial information with each other.The 50 most innovative companies and the habits that distinguish breakthrough innovators
Boston Consulting Group lists the habits that distinguish breakthrough innovators. Find out which company is the most innovative.Mistakes CFOs should avoid to keep employees from quitting
Surveys with CFOs and office workers in the US suggest that inadequate compensation tops the list of mistakes CFOs make that prompt employees to quit their jobs.
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