News
Good risk management changes corporate culture, boosts earnings
Good risk management goes beyond keeping the company out of trouble, a new study on risk investment levels suggests. Companies that did it best reported three times EBITDA than those that just did basic risk management.COSO explores common judgement traps, lays out five-step decision-making process
Failing to consider opposing points of view and improperly defining problems are two key traps that lead to poor business judgment, according to a new white paper by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).Globalisation risks challenge executives
Increasing competition and slowing growth can turn emerging economies such as China, India and Brazil into risky business environments, according to a new Ernst & Young report on globalisation.The look ahead: Economic progress reports expected from Europe, China and the US
China on Monday is expected to offer an economic forecast for 2012 – an outlook that could be affected by the debt crisis in the EU, which is expected to release gross domestic product (GDP) data on Tuesday. On Thursday, the AICPA releases its first-quarter US “Economic Outlook Survey”. On Friday, the US releases unemployment data.Google+ – what’s in it for management accountants?
It’s been heralded as a major new development in networking and has sparked an increasingly intense rivalry with social media giants Facebook and Twitter. But is Google+ really a step ahead of its rivals?US financial crimes agency postpones mandatory FBAR e-filing
The US Treasury Department’s Financial Crimes Enforcement Network announced that it is postponing until July 1st 2013 its requirement that Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts (FBAR), be filed electronically.The look ahead: US consumer indicators, Japanese manufacturing, PCAOB meeting
Next week’s economic news agenda includes a handful of reports indicating the mood of US consumers as well as data on Japanese manufacturing nearly one year after the devastating earthquake of March 11, 2011. The PCAOB also will hold a meeting to consider whether to issue for public comment a proposed auditing standard on related parties.Reputation of accounting profession top concern in IFAC global survey
The reputation of the accounting profession continues to be a top concern among those in the field – and the profession needs to present itself better to improve public approval, according to a new global survey.Corporate professionals’ list of risk factors is expanding
A survey of North American corporate financial professionals pinpointed financial risks as the primary driver of earnings uncertainty. Regulatory changes, natural catastrophes and the ups and downs of the economy were also troubling.Google, HP, Microsoft behind surge in tech M&A deals
Big deals by power players Google, Hewlett-Packard and Microsoft contributed to a 41% jump in the total value of technology mergers and acquisitions in 2011, though economic uncertainty slowed activity in the fourth quarter and could do the same in 2012, Ernst & Young says in a recently released report.US business travel could suffer from European debt crisis
The business travel industry, which was forecast to grow during the next two years, is increasingly threatened by the European debt crisis.Employees need help to maximise analytics effectiveness, report says
Employees must be trained to implement data, and data must be made more decipherable and usable for organisations to make the best use of business analytics, a report says.The look ahead: Indicators on US housing and UK industry, US update on IFRS
Data on the US housing picture and British manufacturing top next week’s economic news agenda. Meanwhile, the US Securities and Exchange Commission’s chief accountant will be in London to give an update on the US’s potential adoption of IFRS.Mobile devices expose organisations to unprecedented security risks, reports say
The rapid proliferation of smartphones and tablet computers is exposing corporate networks and information to unprecedented risk, and organisations worldwide should expedite efforts to shore up their cybersecurity systems.Unlocking performance
We asked Albert Birck, the head of performance management for Maersk Oil, and Roger Blanken, CPA, the vice president of finance – supply chain, for International Flavors & Fragrances (IFF), to explain how technology, better planning, and communication about performance can unlock hidden potential.Data providing more HR insight, driving success
Workforce information is becoming easier to use and is being deployed as a powerful tool to help organisations improve and thrive, according to Deloitte research.Foreign tax credit regs. on splitter arrangements and determining who is liable for foreign tax
Late Thursday, the IRS issued final regulations on determining who has the legal liability to pay the foreign tax for foreign tax credit purposes (T.D. 9576) and temporary regulations on the application of the “anti-splitter” rules of Sec. 909 (T.D. 9577). The rules are related because the legal liability toIFAC report outlines five ways accountants can meet demand for certain non-financial data
Accountants need to provide more and better nonfinancial information to meet the increasing needs of investors, an IFAC report suggests. The report, which recommends five actions for accountants, reinforces the results of a joint AICPA/CIMA report that indicated that CEOs worldwide will consider more nonfinancial information as they create business plans.Letter from… New York: The finance sector’s crossroads
A year after moving from London to New York, Gillian Tett, US managing editor of the Financial Times, contrasts the two financial centres’ responses to the global downturn – and prospects for the future.
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