News
Build a strong team to comply with conflict minerals rule
New SEC regulations require US public companies to dig into their supply chain to trace the origin of the so-called “conflict minerals” of tin, tungsten, tantalum and gold. Experts are advising companies to build cross-functional, empowered teams to comply with the rule, which is aimed at choking off funding to oppressive warlords who run mines in Africa.IFRS Foundation trustee: Don’t wave white flag on co-operation
As another year appears ready to pass without a US commitment to IFRS, an IFRS Foundation trustee and a UK accounting body say separately that the International Accounting Standards Board (IASB) needs to wrap up its current convergence projects with FASB. But the trustee, James Quigley, said the IASB’s cooperation with FASB should continue after the projects are finished.One-to-One: Keshav Murugesh, group chief executive, WNS
Keshav Murugesh, group chief executive of business process outsourcing company WNS Group, shares insight on achieving sustainable business success. Among his tips: Get the right people, and put the customer at the centre of the business.Office holiday parties live on; six tips to survive them
Data suggest that office holiday parties are making a bit of a comeback. Though not always grand in scale, the office party’s return is generally met with smiles by employees. Here are six tips to steer clear of office-party danger and make the experience a good one for you and your coworkers.Finance professionals: Fiscal cliff could sap US economic growth
Finance professionals continue to keep one eye on the bottom line and one eye on the fiscal cliff. Respondents to a new Association for Financial Professionals survey warn that US economic growth is in jeopardy if Congress can’t quickly resolve budget issues.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).
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