News & Publications

    Business Briefs- 2011 


    AICPA Ethics Codification Project Update for Members in Business (December) The AICPA Professional Ethics Executive Committee (PEEC) continues to move forward with a codification of the AICPA ethics standards. The primary focus of this initiative is to improve the AICPA Code of Professional Conduct (Code), so that members and others can apply the rules and reach the right conclusions more easily. To achieve this, PEEC is restructuring the AICPA Code into separate parts: one part for members in the practice of public accounting; another part for members in business; and a third part for all other members, such as student members.
    Risk-Based Strategy: Integrating Strategy Maps, Management Controls and Risk, Part 3 (July)

    Part three of this three-part series explores designing a firm’s management control system to manage those risks that have the greatest probability to negatively impact firm profitability.

    Risk-Based Strategy: Integrating Strategy Maps, Management Controls and Risk, Part 2 (June) This three-part article series integrates strategy mapping, risk management and management control into a risk-based approach to strategy execution. Part one used strategy mapping as a tool to visually depict the firm’s strategy. Here in part two, we will discuss how to assess a firm’s risks.
    Risk-Based Strategy: Integrating Strategy Maps, Management Controls and Risk, Part 1 (May) This business brief (one in a three-part series) integrates strategy mapping, risk management and management control into a risk-based approach to strategy execution. Part one discusses using strategy mapping as a tool to visually depict firm strategy.
    Seven Steps Toward a Proactive, Value-Added Enterprise Risk Management Program (April)

    Senior leaders often receive mixed signals about the status and urgency of enterprise risk management (ERM) at their companies. With the Securities & Exchange Commission, industry regulators and credit rating agencies pushing for increased risk oversight, one would believe that many public and private companies have undertaken deep and robust reviews of risk management. However, many companies still do not know how to implement a proactive ERM program. This business brief provides seven action items to jump start a value-added ERM program.

    Why is Quality of Earnings Important in a Potential Acquisition Target? (March)  The reported results of a potential acquisition target, although compliant with US GAAP, often do not reflect the sustainable run rate of the company’s cash flows. This article defines the difference between reported results and quality of earnings and how a quality of earnings analysis can potentially reduce the purchase price and set the expectations of value of a potential acquisition.  
    The Perils and Promises of Integrated Enterprise Risk and Performance Management (March)   Businesses are interested in enterprise risk management and enterprise performance management, but are unfamiliar with how to integrate them, let alone the distinguishing differences between each. Also, though interest in these functions is high, it can be difficult for businesses to  commit budget dollars to pay for their implementation and executives often leave risk managers  out of the strategic decision-making process. This brief will discuss the opportunities and consequences related to implementing an enterprise risk and performance management framework.  




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