International


A new IFAC discussion paper examines the methods different countries’ accounting organizations advocate for defining and achieving competence in professional accountancy. Comments are due by October 31 ( www.ifac.org/News/LastestReleases.tmpl?NID=99010990012150 ).

The Organisation for Economic Co-operation and Development’s initiative on harmful tax practices draws the opposition of the U.S. Treasury secretary, who characterizes the group’s proposal as an effort to dictate how individual countries should structure their national tax systems ( www.treas.gov/press/releases/po366.htm ; www.oecd.org/daf/fa/harm_tax/harmfultax_eng.pdf ).

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Getting leases in line

ASC Topic 842 is a relatively simple standard that can mean profound changes for organizations with leases. This report examines what makes this standard challenging and describes new ways for CPAs to add value.