A mapping exercise is one of the most important activities for any organization implementing the updated 2013 internal control framework of the Committee of Sponsoring Organizations of the Treadway Commission (COSO), experts say. The updated framework includes 17 newly described principles across the five components of internal control that were
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Management accounting
IIRC releases International Integrated Reporting Framework
The International Integrated Reporting Council (IIRC) on Sunday made public an approved framework for integrated reporting. The group intends for the framework to guide companies on how to best communicate with their stakeholders. The release represents a key step forward for integrated reporting (IR). The aim of IR is to
Shooting straight
The new imperative for internal auditors is clear. Companies increasingly expect their internal audit function to take on a more strategic, collaborative role within the business. At first glance, that seems to be a complex notion. Independence and objectivity safeguards indicate that internal auditors should not be proposing or setting
Honing your hiring
It takes some detective work to hire the right new employee. Management needs to piece together clues about the applicant’s personality and work history. It takes time to determine whether a candidate has the character and credentials to fit the company’s needs. Here are a few steps to help you
How to conduct a risk workshop
Humana is a company of 50,000 people, so assessing and addressing all the risks that each segment of the company encounters is no easy feat. For years, Humana, a multibillion-dollar player in managed health care and health insurance, had a top-down approach to risk. But a few years ago, the
From CGMA Magazine: How to be a better delegator
Being able to delegate well allows effective leaders to free themselves to do high-value tasks and to improve their own performance. Here are seven tips on how to delegate more effectively. Consider the benefits. Delegation isn’t just about freeing yourself from tasks that are beneath your pay grade—it is also
Top risk for businesses: Regulation, compliance overload
Corporate directors believe regulatory and compliance overload is the greatest risk facing their business, well ahead of cyber threats and corruption, a new survey shows. Also, board members seem skeptical about some new proposals from the PCAOB regarding the auditor’s reporting model. That’s according to the latest BDO Board Survey,
More transparency sought from audit committees
A consortium of U.S. governance organizations is calling on public company audit committees to enhance reporting about their activities. Increasing transparency about the audit committee’s roles and responsibilities could increase investor confidence, according to the organizations’ new Enhancing the Audit Committee Report: A Call to Action. The Center for Audit
Fed change won’t improve economy, U.S. finance execs say
Although U.S. CFOs and finance chiefs say a Federal Reserve chairman has the ability to significantly affect the world’s economy, they are not optimistic that the coming change in Fed leadership will hasten the economic recovery. Nearly six in 10 (59%) of 688 U.S. CGMA designation holders surveyed in October
Affordable Care Act holds opportunities, challenges for internal auditors
Health care regulations associated with the Patient Protection and Affordable Care Act (PPACA), P.L. 111-148, have created new opportunities for internal auditors. But internal auditors may need to get more familiar with PPACA’s provisions to help their organizations understand the risks associated with the law and their organization’s preparedness to
Why accountants should own Big Data
Many organizations recognize the value in harvesting data, whether the information is about customers’ buying habits or employees’ performance measures. But some companies haven’t been able to tap into the full potential of business intelligence—that is, getting the right information from the data to make better business decisions. Donny Shimamoto,
How to value a CPA firm for sale
One of the key components of a CPA succession plan is the sale or transfer of the retiring CPA’s ownership interest. How is the value of that interest determined? In most circumstances, the value of an owner’s interest is different when selling to an external buyer than it is in
Strategic planning leads list of finance priorities
Harnessing data for strategic planning, streamlining processes, and bracing for heightened regulatory concerns are the top priorities for CFOs and the finance function, according to a new survey report. Finance executives were asked to rate how different issues and capabilities ranked among their priorities in business consulting firm Protiviti’s 2014
New opportunities for CPAs in proposed crowdfunding rules
Rules on crowdfunding proposed by the SEC on Wednesday would create opportunities for startups and small, private businesses to raise cash through internet-aided sales of securities—and would create opportunities for work by CPAs. The SEC commissioners voted 5–0 to propose the rules that are designed to comply with a provision
A leadership tutorial from education innovator Sal Khan
Sal Khan’s story has many of the markings of a classic Silicon Valley narrative. Khan, an investment analyst working in Boston at a hedge fund, in 2004 began using Yahoo Doodle and phone calls to tutor a faraway cousin struggling with math. That evolved into posting simple video lessons on
Smart ways to tap accountants’ business process acumen
It’s not unusual for organizations to run into problems when they implement business solutions. Some organizations cannot launch the software at all. Others struggle with cost overruns or lose revenue because a software malfunction, inadequate training, or improper configuration leads to business interruptions, said Bob Gaby, CPA/CITP, CGMA, principal of
Internal auditors get modest raises in U.S., Canada
U.S. organizations gave internal auditors slightly more generous base-salary increases in the past 12 months, but the magnitude of raises fell slightly in Canada, according to a new survey report. The percentage of U.S. organizations that gave internal auditors base salary increases of 4% or more grew to 16% from
U.S. CFOs confident in finance teams’ compliance skills
Accounting and finance teams possess the skills to handle current regulatory compliance tasks, according to a new survey. Nearly half (45%) of 2,100 U.S. CFOs said their accounting and finance teams possess “excellent” regulatory and compliance expertise, according to a survey developed for finance, accounting, and business systems talent provider
Six techniques for building a strategic finance department
Finance teams want to perform strategic duties in their organizations, but new research shows many of them are not building the right competencies to fulfill these duties. Typical finance teams are weak in the nontechnical competencies that matter the most, according to a white paper reporting results of a survey
Forward roll: How companies can move beyond traditional budgeting
For more than a decade, Tim Quinn, CPA, CGMA, negotiated the tedious, back-and-forth magic of building the annual budget for Northern Quest Resort & Casino. Every year, it was the same time-consuming endeavor: Quinn, the company’s vice president of finance, would send out budget worksheets to 45 department heads. The department
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Preparing clients for new provisions next tax season
As the 2025 filing season approaches, H.R. 1 introduces significant tax reforms that CPAs must be prepared to navigate. These legislative changes represent some of the most comprehensive tax updates in recent years, affecting both individual and corporate taxpayers. This report provides in-depth analysis and guidance on H.R. 1.
From The Tax Adviser
November 30, 2025
Digital asset transactions: Broker reporting, amount realized, and basis
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Recent developments in estate planning
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