News
IAASB issues summary financial statement audit reporting guidance
The IAASB has issued guidance on the auditor’s responsibilities related to an engagement to report on summary financial statements derived from financial statements audited by that same auditor in accordance with International Standards on Auditing.How the US presidential election is shaping business decisions
Finance executives said the US presidential election will not factor heavily into their business planning, according to a survey by the American Institute of CPAs.How SMEs grow in an uncertain global economy
Small and midsize companies follow five strategies to increase revenue, head count, and investments while doing business in an uncertain global economy, PwC research suggests.Regulation still reigns as top risk for 2016
Uncertain economic conditions and pervasive, damaging cyber-threats did not prevent regulation from remaining the most worrisome risk for organisations, a new survey shows.FASB issues update clarifying revenue recognition issue
The US Financial Accounting Standards Board (FASB) issued an accounting standards update that clarifies how to apply revenue recognition guidance related to whether an entity is a principal or an agent.How to avoid common mistakes during high M&A activity
Conditions for mergers and acquisitions are favourable, but executives should take these five steps before they decide to buy a business.CFOs not always prioritising cost management
Cost management is a stated emphasis for CFOs, but an Accenture survey shows that finance chiefs are not always following through on cost management initiatives.UK employees dissatisfied with career progress, blame poor line management
One-third of UK employees are dissatisfied with their career progression, and many think they are in the wrong career altogether, citing lack of guidance at school and poor line management in the workplace as the major contributing factors.5 steps to better organisation design
Organisation design is atop the minds of global business leaders in an annual Deloitte survey. But concerns about leadership, culture, and engagement continue to be cited as challenges for many companies.UK firms wasted £194 billion in 2015
Delayed or canceled projects, inefficient systems, and overpayment for goods or services were found to be the most common causes of waste.How Chinese businesses will increase overseas investments
Expect Chinese businesses to boost overseas investments, but not necessarily where they have put their money in the past decade, research by the Economist Intelligence Unit suggested.How to lead an effective internal audit function
Five key traits help leaders of the most effective internal audit functions develop teams that provide effective risk management and an integrated assurance strategy across the organization.International audit regulators seek faster improvement
Audit regulators across the globe saw some improvement in audit quality in their latest annual survey, but they say the pace of improvement needs to be faster.How expected credit loss standards will challenge auditors
Auditors and others that deal with a company’s financial statement will experience new challenges as a result of implementation of new financial reporting standards requiring reporting of expected credit losses related to financial instruments.CPA decision-makers turn negative about US economy
Just 28% of CPA decision-makers in business and industry say they are optimistic about the US economy for the next 12 months, and fewer than half are optimistic about their own companies.Corruption watchdog reports positive signs
In the past four years, several emerging economies have made strides tackling corruption and bribery, Transparency International reports.The big business of sustainability
Sustainability initiatives can make sense from an environmental and reputational perspective, but there is evidence that sustainability also can be profitable.PwC survey finds tiny decrease in economic crime
The results of a recent PwC survey might not appear to be particularly alarming: the percentage of organisations that experienced economic crime in the previous 24 months was down, albeit only slightly. Scratch beneath the surface, however, and it doesn’t take long to find signs of trouble.How to comply with the new FASB leases standard
The first step in compliance for many companies following the US Financial Accounting Standards Board’s (FASB’s) issuance of its new leases standard will be an evaluation of whether they possess all the data they need to report under the new rules.
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