News
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 termTackle 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.South African companies line up to IR challenge
This year, the eyes of the corporate reporting world are focused on South Africa, the first country to mandate integrated reporting in a project viewed by many as a global litmus test. Take a look at how integrated reporting is gaining traction.Kaplan: Cost shouldn’t drive decision on shared service centres
The decision to set up a shared service centre should not be motivated by lowering costs, according to one of the creators of the Balanced Scorecard. Robert S. Kaplan says business units should always question why they want to provide a service internally rather than using external suppliers before making a decision on a shared service centre.Risk and performance reporting some way apart
Risk management has become an important issue for business because of volatile capital markets, uncertainty over the economy, fears about reputational damage and broader concerns over the sustainability of companies and the environments they affect.CFOs in high demand for board positions
When it comes to corporate boards, CFOs increasingly are in demand for their financial and strategic expertise. The benefits of serving in those positions include gaining general management or board knowledge, and gaining exposure to different companies or industries, according to a new report.US standard-setter’s developing model “totally” changes impairment concept
The new Current Expected Credit Loss (CECL) model FASB is developing for financial instruments treats impairment as the amount that an entity is not expecting to collect. FASB member Lawrence Smith said that is a significant change from existing GAAP, which recognizes impairment as the result of an incurred loss event whose occurrence is probable as of the reporting period. An exposure draft is expected before the end of the year.Avoid a bad hire: Consider the “fit”
A bad hire can destroy employees’ morale and waste managers’ valuable time. To avoid a bad hire, consider how the candidate fits in with the team in addition to technical proficiency.CFOs worldwide become more cautious about where to invest internationally
In the past year, CFOs worldwide have become less optimistic about the future success of their companies’ international expansion plans, a survey found. Discover which seven countries best meet their reduced risk appetite.To ascend to CFO role, controllers must take a broader look at business
Controllers have some of the skills needed to become financial directors, but they need to adjust their detail-oriented focus to a broader, more strategic way of thinking. Here are key ways controllers can make themselves FD-worthy.Obama can’t expect a “fiscal honeymoon” in second term, Fitch says
President Barack Obama and Congress will need to quickly agree on how to avoid the so-called “fiscal cliff” and raise the debt ceiling, if the nation wants to avoid another recession—and a credit-rating downgrade, Fitch Ratings said Wednesday, becoming the latest to cite political gridlock as a risk to the nation’s creditworthiness.A remedy for the broken economics of health care
Harvard Professor and Balanced Scorecard co-founder Robert Kaplan has applied his performance measurement expertise to the US healthcare system. See what problems he has found and what solutions he recommends.Norton: Balanced Scorecard must adapt to remain relevant
David Norton, one of the fathers of the widely used Balanced Scorecard, outlines five major challenges performance management systems must overcome to remain effective.Gartner: Android, Apple to spark surge in smart device sales
Worldwide sales of smartphones and tablets will soar past the 1 billion-unit threshold in 2013, while the Android, Apple iOS, and Windows 8 operating systems will spark a multiyear surge in mobile device purchases by businesses, the information technology research and consulting company Gartner forecast Tuesday.Foreign investors keep a close eye on Middle East
The Middle East has many qualities that draw foreign investors. A survey suggests that companies worldwide are keeping a close eye on investment opportunities in the region. But the survey also explains why many companies still hesitate to take the plunge.Can productivity rise when employees already are stretched thin?
Companies that became leaner during the financial crisis and are struggling to stimulate growth may still need to create value through increased productivity. But the challenge is raising productivity without squeezing workers who are already doing more with less.
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