News
Eight principles designed to protect assets of securities firms’ clients
A consultation report released by the International Organization of Securities Commissions (IOSCO) is designed to help regulators improve their supervision of securities firms to protect the assets of clients of those firms.Integrated reporting gains steam with IIRC, IASB agreement
The movement toward integrated reporting appears to be gaining steam after the International Integrated Reporting Council announced a cooperative agreement with the International Accounting Standards Board. The IIRC also is scheduled in April to release a consultation draft of an integrated reporting framework.What to consider when you’re planning to sell part of the business
US companies considering the sale of a business are increasingly shifting their focus from meeting financial needs to meeting corporate strategic goals. But not enough are following the tactical considerations necessary to get the highest price or close the deal fast.The talent drain: Good news for skilled workers, bad news for CFOs
A survey of US CFOs shows that a majority consider it challenging to find skilled finance professionals. Robert Half polled more than 1,400 CFOs, and 59% said hiring top talent was a challenge. The fight for talent means skilled workers can command higher salaries and other perks, such as flexible work arrangements.Boards heavily involved in CEO succession planning, but often delegate duties
Although corporate boards are frequently reviewing CEO succession plans, practices vary widely with respect to who holds primary responsibility for oversight of these plans, a new survey of corporate secretaries shows. Responsibilities are split between the full board, the compensation committee and the nominating/governance committee.How to fight the flu and maintain productivity
In an uncertain economic climate, workers who have survived layoffs may be reluctant to stay home when they are sick. But encouraging them to stay home when ill can be critical to maintaining productivity in a worse-than-average flu season in the United States. Read here for more tips on combating the flu in the workplace.Cloud adoption brings unexpected costs, KPMG survey says
Higher-than-expected costs and significant challenges in implementation have marked the adoption of cloud technologies in 16 major global markets, according to a survey of more than 650 business and IT leaders from KPMG.M&A in your future? Plan for accounting integration
European finance executives who have taken part in recent mergers and acquisitions stress that planning is critical for the integration of accounting functions – before the deal is complete. But a survey by Ernst & Young showed that 39% of respondents said their companies began planning for the accounting integration after the deal had been completed.IFRS Foundation eases way for US standards setter to join global forum
The IFRS Foundation has dropped a proposed requirement that would have insisted that participants in its new forum of national and regional standard setters agree to promote the adoption of IFRS. The move clears the way for FASB’s participation in the forum.Revenue recognition: Time for early-stage planning
Experts say companies need to conduct early-stage planning for the effects of the new revenue recognition standard that FASB and the International Accounting Standards Board are developing. Although the effective date of the new standard is expected to be years away, proposed retrospective application requirements may make it wise for companies to begin tracking the new numbers early.Internal audit reporting line to chief executive gains steam as US Fed weighs in
The US Federal Reserve has issued guidance to encourage US banks with more than $10 billion in total assets to have their internal audit functions report to the chief executive – a move that could influence similar changes in other industries, observers of the profession say.US standard-setter clarifies scope of offsetting disclosure requirements
An Accounting Standards Update (ASU) issued Thursday by the US Financial Accounting Standards Board (FASB) makes it clear that a 2011 standard on offsetting disclosures does not apply to ordinary trade receivables and receivables. ASU No. 2013-01, Balance Sheet (Topic 210): Clarifying the Scope of Disclosures About Offsetting Assets andInternal auditors must focus more attention on strategy
While contingency planning for macroeconomic events remains a concern for internal auditors, another hot spot is strategy creation and execution. Research by the Corporate Executive Board details the top areas of concern for the next year. Strategy is an important one: Companies want to grow, but they often lack confidence in strategic decisions, fail to act quickly or fail to communicate how those decisions affect employees.Corporate tax burden shifting to indirect taxes
Corporate tax rates have decreased worldwide in the past six years to help countries attract investment, but indirect taxes are on the rise. So are tax audits and penalties as a source of revenue. Find out the six tax trends companies are likely to encounter worldwide.US companies may be ready to deploy cash, survey shows
Corporate treasurers who plan to reduce cash holdings in the first quarter of 2013 outnumber those who plan to increase such reserves, according to a survey by the Association for Financial Professionals. That could signal a shift out of a period in which companies have been holding on to cash in an uncertain economy.What worries CEOs most?
Global economic uncertainty, government response to debt and deficit, and overregulation are among the most worrisome things to CEOs these days, according to PwC’s annual global CEO survey. Find out what strategies they’re employing to protect their companies from the effects of each.Companies invest in employee training to reduce global skills gap’s effects
Spending on employee learning and development is rising as companies attempt to hire and train new workers and leaders alike to combat a global skills gap, according to research by Bersin by Deloitte. Read about some of the best practices in L&D, as well as mistakes to avoid.Preparers tell IASB: Disclosure requirements too extensive
Financial statement preparers’ concerns about disclosure overload came through loud and clear in a survey recently conducted by the International Accounting Standards Board (IASB).Study by UK researchers shows inconsistency in IFRS application
UK researchers reported inconsistencies in compliance with certain impairment disclosure requirements across jurisdictions in Europe in a study released this month, indicating that IFRS are not being evenly applied.
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