News
ASB recommends scoping nonissuers out of “auditor commentary” requirements
An American Institute of Certified Public Accountants committee is weighing in on a recent International Auditing and Assurance Standards Board (IAASB) proposal that would require expanded commentary in auditors’ reports.Audit quality centre releases practice aid on audit communication
How should US audit firms and audit committees be talking to each other? The Center for Audit Quality (CAQ), affiliated with the American Institute of CPAs, examines the question in a brief guide released Wednesday on ways to enhance the flow of information on audit inspections and quality-control matters.Three-bucket approach links pay to performance
A simple approach to performance-based compensation calls for giving employees a limited number of goals linked to a firm’s strategy and basing their bonuses on the extent to which those goals are achieved. The compensation system calls for owners as well as employees to have their bonuses linked to performance.Study finds early warning signs for a looming global talent imbalance
Companies are overhauling their business strategies to adjust to the rise of emerging markets, new research shows. But demographic trends will add new challenges over the next five to ten years, specifically in talent management.Letter from … Dublin: Much done – but much more to do
Deep spending cuts and significant tax hikes are likely to further depress consumer spending in Ireland, increasing the pressure on businesses that are already struggling to deal with the effects of austerity. Irish Times correspondent Paul Golden reports on a country squeezed by bailout debt.Investors aware of issues before goodwill impairment announcements, study shows
Stock market comparisons show that investors are aware of issues related to goodwill impairment before the impairment is announced, a Financial Executives International study shows. The report also shows that companies performing a discounted cash flow analysis with respect to goodwill have been inconsistent in matching the basis of projections with the discount rate applied.Executives struggle most with big-money decisions
Executive teams tend to struggle most with decisions that involve high uncertainty and high cost, new research shows. In addition, CFOs face a broad range of decision-making barriers, including the biases of members of the executive team. Nine different barriers each received votes from at least 20% of CFOs.Interested in buying sukuk?
Sharia law, the Muslim code of conduct, prohibits lenders from charging interest or trading in debt. Islamic bonds called sukuk comply with sharia, and they enjoy rising popularity in the Middle East, North Africa and Southeast Asia. Rising demand for sukuk is outstripping supply.Role reversal: Economic pessimism in the US meets signs of positive sentiment globally
The CGMA global economic index is unchanged from the second quarter, but optimism in the US economy is dropping. US chief executives, financial directors and controllers are far less positive about the economy in their country and about their own businesses. These declines are offset by small gains in sentiment in the UK and other parts of the world, leaving the CGMA index at 58 for the third quarter.FASB, IASB keep time value of money in revenue recognition standard
FASB and the International Accounting Standards Board have tentatively agreed that adjustments for the time value of money should remain part of the converged revenue recognition standard the boards are developing. Such adjustments had generated some opposition because of their complexity.Digital age to require greater supply-chain agility
Supply-chain executives believe digitally enabled customers in the future will be willing to pay for value-added services rather than demanding the lowest prices, according to a recent survey. That may force supply chains to become more agile as complexity is pushed upstream.Employers can’t afford to let worker retention practices lapse
Four in five employees in a recent survey indicate they plan to remain with their current employers, but statistics show that when unemployment decreases, voluntary job turnover increases. Many organisations have been reporting trouble finding skilled workers, so employers who neglect retention practices do so at their own risk.Study looks beyond GDP growth, finds a lot to like in mature markets
A new study finds that developed markets in North America, Europe and Oceania have a lot of strengths that help businesses with growth potential flourish. But some emerging markets, especially in Asia, are competitive.Google Play making serious run at Apple’s App Store
The reign of Apple’s App Store as the leader in mobile applications offered and downloaded is facing a challenge from Google Play, the official store for Android apps. Google revealed September 26th that it has hit a major milestone for mobile apps downloaded and has moved within striking range of Apple in the number of apps available in their app stores.Why the US manufacturing rebound could turn into a revival
Domestic manufacturing has gone through a rebound in the past four years, but structural changes that go way beyond rising labour costs in China may be able to sustain a revival of US manufacturing, a PwC analysis suggests.IASB to issue “targeted re-exposure” of insurance proposals
The International Accounting Standards Board (IASB) decided to re-expose its proposals for insurance contracts accounting.Survey takes pulse of board members, shows opposition to audit firm rotation
US public company board members surveyed by BDO opposed mandatory audit firm rotation by more than 2 to 1. In the wide-ranging survey, board members showed support for the idea of voluntary adoption of IFRS for financial reporting by US public companies and listed corruption and bribery as the top fraud risk facing their company.US starting salaries in accounting and finance appear headed for an increase in 2013
Starting salaries in accounting and finance are projected to rise in the United States in 2013 compared with the previous year, according to a recently published salary guide. See how much of an increase is likely and which job titles are generating the most demand.Outsourcing treasury management
The idea of being able to outsource all or part of the treasury management function is an attractive proposition to CFOs. But it only makes sense if the outsourcing partnership is well planned. Experts offer tips on how to best execute the process.
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