Businesses are placing increasing emphasis on ethics and compliance, and the area is set to gain further importance in the near future.
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TOPICS
Management accounting
The domestic production activities deduction for computer software
Know how to apply the rules to this fast-changing industry.
Revenue recognition implementation concerns finance executives
A recent KPMG survey shows that 64% of U.S. companies are uncertain about the path they’ll take to adopt the new, converged revenue recognition standard. Also, regulation is cited as the top compliance concern for 51% of corporate finance executives.
Some ERM practices going stagnant, survey indicates
Senior finance executives say their organizations are often not in alignment about the need for structured enterprise risk management, a survey on behalf of the AICPA shows.
New conflict minerals guidance developed
New questions and answers developed by the AICPA Conflict Minerals Task Force provide nonauthoritative guidance to practitioners performing independent private-sector audit engagements of conflict minerals reports.
Regulation remains top risk for 2015
Some familiar risks are top-of-mind for executives and board members, and new concerns are emerging as well, according to survey results released Monday.
COSO: Internal control a challenge with outsourced providers
Here’s how companies with outsourced service providers can meet the requirements of the updated internal control framework of the Committee of Sponsoring Organizations of the Treadway Commission (COSO).
Management accounting
Olivia Kirtley, CPA, CGMA, held a small blue globe in her hand for the audience to see as she presided over the closing ceremony of the World Congress of Accountants in November. The globe, made at a CGMA booth using a 3-D printer at the Rome meeting, was more than
Highlights
In an address in Rome to participants of the World Congress of Accountants, Pope Francis reminded accountants that their work is a service to the community and encouraged accountants to use this perspective, along with their creativity, to tackle the urgent problems facing society.
Bringing analytics to life
The use of analytics has been recognized as a crucial part of any decision-making process in businesses. The explosion in transactional and nontransactional data that organizations have access to has made the need for new tools and technologies vital for organizational success.
Becoming a strategic risk adviser
Accountants can leverage the training and experience they have in managing compliance risks to become strategic risk advisers for their organizations.
Drive competencies and develop talent
The financial planning and analysis department at Baker Hughes is more valuable and more collaborative thanks to a three-step employee-development process, the company’s Michael Kinney, CPA, explains.
Audit committee members need more time, expertise to deal with risky environment, survey says
Risk concerns have put a strain on audit committees, who say they need more time and expertise to exercise proper oversight.
How to manage risks connected with the “internet of things”
Although web-connected products and the “internet of things” provide opportunities for transformative growth, they also may carry substantial risks.
How to meet the challenge of the open workforce
Companies across the globe are embracing the “open workforce” model, a trend that has been fueled by globalization and digitization.
Management accounting
A well-known framework for risk management is scheduled for another update. The Committee of Sponsoring Organizations of the Treadway Commission (COSO) announced that it is undertaking a project to update its Enterprise Risk Management—Integrated Framework, which debuted in 2004. Organizations use the framework to help them manage uncertainty, consider how
How to mind your manners in the Middle East
The Middle East offers foreign companies many lucrative business opportunities, but, to gain access, suitors must first be considered culturally acceptable by their Middle Eastern counterparts.
U.S. board members cite challenges in revenue recognition implementation
Updating systems and policies and revising contracts with customers were cited by U.S. public company board members as the top challenges to implementing revenue recognition, according to a survey by accounting and consulting firm BDO.
7 risk areas for the 2014 audit cycle
Revenue recognition and internal control over financial reporting are among the key risk factors in the 2014 audit cycle, according to an alert by the Center for Audit Quality (CAQ). The alert details seven key areas of potential risk in auditors’ work.
U.S. economy on a roll, according to survey of finance executives
Economic optimism is up from a year ago, led by brighter projections in revenue, profits, and hiring, according to the latest quarterly survey of finance executives in business and industry by the AICPA. Availability of skilled personnel is a rising concern.
Features
FROM THIS MONTH'S ISSUE
Making the right choice when no one is watching
The true test of one’s character is the decision made when no one is looking over your shoulder. Learn how CPAs can uphold ethical standards and take actions that help limit liability risk.
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Current developments in taxation of individuals: Part 2
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