News
Small businesses in US, Canada aren’t using accountants’ complete skills, survey shows
Efforts to get accountants more fully engaged with clients have found limited success with small businesses in the United States and Canada, a new survey shows.COSO postpones release of internal control framework until 1Q 2013
The first quarter of 2013 is the new expected release date for the updated internal control framework of the Committee of Sponsoring Organizations of the Treadway Commission (COSO). The framework originally was scheduled for release in fall 2012, but extensive, detailed comments from stakeholders have left COSO’s board with many ideas to consider.Survey highlights most common mistakes managers make with employees
Failure to communicate between staff and management was cited by 41% of CFOs surveyed as the mistake companies make most in managing employees, according to a new report. Twenty-eight percent of CFOs said lack of recognition and praise is the most frequent mistake, according to a survey by staffing service Accountemps.Panel: Global economy is in a growth phase rather than recovery
A sense of guarded optimism about the global economy in the first quarter points to a growth phase rather than a widespread recovery, suggests a panel commenting on the CGMA Global Economic Index.The look ahead: US, European employment reports; Australian interest rates
The US labour market has been warming up in recent months. Will the trend continue in April? Several jobs reports due out in the coming week will provide insight into the US employment situation.Letter from… Robert Cole: M&A must prove it can make companies better, not just bigger
With cash piling up on some corporate balance sheets, it’s only a matter of time before the M&A market comes back. But dealmakers may struggle unless they can convincingly point to a long-term, recurring growth story.Emerging markets acquisitions decline, reflecting global pattern, report says
The volume of corporate acquisitions involving emerging markets dropped in the last six months of 2011. The fall in activity reflects a global trend in the M&A arena. Africa emerged, though, as a more significant target market for acquisitions.Ripe time for M&A, but appetite is missing
The economic and financial ingredients for an M&A boom are all there. But large corporations aren’t taking the plunge – and many are backing away from combination plans. New research explains why.FATCA adds layer of complexity, penalty exposure to offshore asset reporting
The acronym for the US Foreign Account Tax Compliance Act—FATCA—is easy to remember if one thinks of “fat cat.” Unfortunately, this may be the only thing about FATCA that is easy. This item highlights the provisions of FATCA that are most likely to affect US tax practitioners and their clients, the taxpayer reporting provisions of new Section 6038D of the Internal Revenue Code.Tweedie: US decision is key to future of international standards
The SEC’s pending decision on whether to adopt IFRS for U.S. public issuers and what effect that decision could have on whether other major economies adopt them as well was a key topic of discussion with prominent panelists Sir David Tweedie, Bob Herz, and Paul Cherry in New York City.Tweedie, Herz, Cherry to discuss financial reporting
Last spring, when he was chairman of the International Accounting Standards Board (IASB), Sir David Tweedie made a case for principles-based accounting standards.Investors warm up to climate-change concerns, research shows
Surveys show investors are putting pressure on companies to disclose more about workplace safety, human and labour rights, and environmental practices. But businesses struggle with how to track the impact of sustainability activities.Emerging markets prove resilient during global economic uncertainties
The Chinese economic boom is weakening, tensions remain high in the Middle East and inflationary pressures weigh on India, but as a group emerging economies are expected to grow. That growth is likely to change trade patterns and expand middle-class populations.US rules for reporting interest on deposits paid to foreign taxpayers are finalised
The US Internal Revenue Service issued final regulations under Sec. 6049 outlining the rules requiring US financial institutions to report interest payments to certain nonresident alien individuals of $10 or more per year paid after December 31st 2012.Top skills sought from new internal audit staff reflect new priorities
The most sought-after skills for new internal audit staff are changing to reflect new, more strategic priorities, a study shows. Skills such as analytical and critical thinking and communication have emerged as most important as chief audit executives explore ways to increase their value to organizations.The look ahead: US interest rates; European economic sentiment; revenue recognition
The Federal Open Market Committee, which makes key decisions about the nation’s money supply, meets to discuss interest rates. The federal funds rate has remained at historic lows since 2008. Will moderate improvement in the US economy encourage the Fed to bump up the benchmark rate? Or will it stick to a plan to keep the rate low until late 2014?Outlook remains cautious despite strong US IPO returns in the first quarter
In the US, one-third more companies went public in the first quarter than a year ago, and new issuers attracted strong after-market interest from investors. But, going forward, uncertainties in the global economy might add some choppiness to the IPO market.Appreciation from managers critical in employee retention, survey shows
Forty-nine percent of workers in a recent survey said they would be somewhat or very likely to leave their current position if they didn’t feel appreciated by their manager. Management appreciation is especially important to workers ages 18 to 34.Analysts seek strategic vision, commitment to innovation from company leaders, report says
Market analysts and professionals who analyse companies for investors consider the effectiveness of a senior leadership team as second only to the current or most recent financial results among criteria they use to judge company success, a Deloitte study found.
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