International


INTERNATIONAL

The International Accounting Standards Board (IASB) seeks additional comments on its July 2000 discussion paper, Accounting for Share-Based Payment, which advocated fair-value reporting of stock and options paid to employees. Because it would reduce their reported profits, companies around the world strongly oppose the IASB’s proposal. Comments are due by December 15. (www.iasb.org.uk/cmt/0001.asp?s=100343464&sc={38CE5284-AEF3-11D5-BE6B-003048110251}&n=3338)

The IASB Standing Interpretations Committee issues two draft interpretations for public comment: SIC-D33, Consolidation and Equity Method—Potential Voting Rights ; and SIC-D34, Financial Instruments—Instruments or Rights Redeemable by the Holder . Comments are due to the IASB by November 5. (www.iasb.org.uk/cmt/0001.asp?s=100343464&sc={38CE5284-AEF3-11D5-BE6B-003048110251}&n=2011)

Internal auditing of banks is the focus of a new best-practice paper from the Basel Committee on Banking Supervision. The committee stresses that boards of directors and senior management have ultimate responsibility for banks’ internal controls—even when they choose to outsource the internal auditing function. ( www.bis.org/publ/bcbs84.htm )

A new study from the International Federation of Accountants— Governance in the Public Sector: A Governing Body Perspective —describes governance principles and their application to the public sector. It also includes an overview of public-sector accountability arrangements. ( www.ifac.org/News/LastestReleases.tmpl?NID=9977167461116&RanID=897825 )

SPONSORED REPORT

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A look at the Dirty Dozen tax scams and ways to protect taxpayer information.

TECHNOLOGY Q&A

How to create maps in Excel 2016

Microsoft Excel 2016 has two new mapping capabilities. J. Carlton Collins, CPA, demonstrates how to make masterful 2D and 3D maps in Excel 2016.

QUIZ

News quiz: IRS enforcement, a hot job, and audit value

The IRS’s 2016 Data Book, a “hot job” of particular interest at this time of year, and insight into how executive and audit committees view the insights from financial statement audits received attention recently. See how much you know with this short quiz.