Broadening duties in a rapidly changing business environment make it imperative for the internal audit profession to evolve, according to a new research report. Although audits of operations still make up the largest portion of internal audit plans for 2014, the percentage of internal audit coverage devoted to operations dropped
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Management accounting
CPA Canada: Frequently asked questions on Canada’s accounting profession consolidation
Canada’s accounting profession is undergoing a radical transformation: the consolidation of three accounting credentials into a new, single designation, the Chartered Professional Accountant (CPA). The abbreviation, which is synonymous with the U.S. certified public accountant designation, raises questions on both sides of the border.
The Sec. 4980H assessable payment for large employers
Know your business’s responsibilities under the Affordable Care Act.
The four D’s of better strategic planning
Instead of approaching business as a series of problems to be solved—say, how to cut down on spending, or how to keep employees from getting bored at work—organizations should take a more appreciative look at themselves.
Health care reform essentials
New health care regulations create many challenges and opportunities for businesses. Here are 10 things CPAs should know about the new rules to help the businesses they serve make wise decisions.
Effective performance management
For a manager, few things are more difficult than delivering honest performance feedback to an employee. And far too many managers don’t give feedback at all. Fortunately, there are ways to address performance review problems. Success lies in the execution of these simple ideas. Define the culture of your
Department of Commerce hasn’t met conflict minerals obligations, GAO says
Although U.S. public companies were required to file their first conflict minerals disclosures earlier this month, a new government report shows that the U.S. Department of Commerce has not met its obligations with regard to new conflict minerals regulations. The department failed to meet a January 2013 deadline to compile
Critical skills needed for finance to cut through complexity
The roles of finance professionals are expanding at a fast pace in a constantly changing global economic environment, new AICPA research shows, creating an urgent need for accounting and finance professionals to grow their skills. An overwhelming majority (85%) of CPAs who participated in a recent survey said the role
Five barriers restricting risk management progress
Organizations continue to be aware of the risks in their midst, yet barriers remain for implementing enterprise risk management (ERM) initiatives. More than half (57%) of companies acknowledge that the volume and complexity of risks has increased “mostly” or “extensively” in the past five years, but the number of mature
Two tips CFOs can use to cut costs
Nearly every industry has had to deal with dizzying changes in business models over the past couple of decades because of the technological revolution that is the internet. The hospitality industry is no exception. Hotels, for instance, once counted on having to pay travel agents a 10% commission for bookings.
Finance professionals are upbeat, but they have staffing concerns
U.S. finance professionals are feeling good on a number of fronts. They are optimistic about the U.S. economy and their own businesses. Most expect to make a higher profit than they did a year ago, and an increasing number say they’d like to hire additional staff. That last part is,
Highlights of ethics research
The authors distill research published in tax and accounting journals of interest to busy practitioners. This article focuses on academic research in ethics.
Move over, strategy: Compliance needs you
The push continues for internal auditors to focus on strategic risks, but regulatory compliance duties are standing in the way, a new survey shows.
FAQs for the CGMA exam
AICPA members who register for the CGMA designation after Jan. 1, 2015, will be required to take an assessment of management accounting skills and competencies.
Five key trends worth watching
Demand for the services of CPAs is likely to intensify in the coming years. But in attempting to meet that demand, CPAs and the businesses they serve appear destined to face challenges in recruiting and retaining talent. These were some of the developments in a forecast for the accounting profession
Payroll, tax top choices for outsourcing in finance
Payroll and tax remain the most often outsourced functions for accounting and finance departments in the United States and Canada, according to a new survey. Outsourcing of payroll occurs at nearly half of U.S. and Canadian companies participating in the fifth annual benchmarking survey released jointly Tuesday by staffing services
Canadian financial executives getting more HR oversight duties
Senior financial executives in Canada are increasing their oversight of human resources, but many rate their knowledge of HR functions as moderate or average, according to a new survey. Sixty-one percent of Canadian financial executives reported that they have taken on more accountability for HR functions such as payroll, recruitment,
Businesses lagging in preparation for new health care laws
Many U.S. employers are lacking in preparation for—and awareness of—new health care laws, according to a survey. More than one-third (36%) of more than 800 corporate decision-makers said they are not very familiar with the requirements of the Patient Protection and Affordable Care Act, P.L. 111-148, according to a survey
Portions of conflict minerals rule stayed by SEC
Companies will not have to explicitly declare whether their products contain minerals that originated in mines in the Democratic Republic of Congo or its neighboring countries, according to the SEC. The SEC issued an order Friday staying the effective date for compliance with portions of its conflict minerals rule that
Managing risk in a CPA firm merger or acquisition
Firm leaders must weigh many considerations during the due-diligence, negotiation, and integration phases of a successful merger or acquisition.
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How to find the right CAS clients
The key to success with CAS is selecting the best clients. Tools like ideal client profiles (ICPs), buyer personas, and even artificial intelligence can help identify the businesses that best fit each CAS practice.
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