Global CPA Report Jan.‌ 22, 2014
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Top Stories
Failure can lead accountants to success
The desire to be certain can eclipse the need to grow or be different, and it can limit an accountant’s potential. Find out which mistakes can be good for a career.
CPA Insider | Financial Post
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Six fraud and corruption trends for 2014
Fraud and corruption risks are not going away. The threats facing companies doing business anywhere, but especially in emerging markets, are growing in number and complexity.
CGMA Magazine
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Africa
How to select the right financial consolidation software
Companies with multiple business units that are looking to manage collation, consolidation, and reporting of management accounts, budgets, or forecasts can choose from many different software solutions. These six tips will make it easier to select the right one.
Accountancy SA
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Americas
What the SEC will scrutinize most during examinations in 2014
The U.S. Securities and Exchange Commission will take a close look at compliance with new rules and regulations as it examines registered entities, including broker-dealers, transfer agents, investment advisers, investment companies, the national securities exchanges, clearing agencies, self-regulatory organizations such as the Financial Industry Regulatory Authority, and the Public Company Accounting Oversight Board.
Journal of Accountancy
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Why technology's impact will feel like a tornado
Technological innovation has upset the job market in developed economies during the past 30 years by diminishing the need for bank tellers, typists, and other mid-skill jobs. But the disruption brought on by the digital revolution has just begun.
The Economist
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How to write engagement letters that limit professional liability
Engagement letters are one of the first lines of defense in a malpractice cause of action against an accountant. As these letters are becoming more popular, find out how to write them in a way that minimizes legal liability.
Journal of Accountancy
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Why the U.S. tax code should be reformed
A U.S. accountant whose clients include restaurants, dry cleaners, and auto repair shops suggests that closing loopholes in the tax code would help small and midsize businesses that are the engines of their local economies.
U.S. News & World Report
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Approval of $1.1 trillion U.S. budget quells shutdown threat
Reuters
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Shrinking of federal contracts worries small businesses
New York Times
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Maquiladoras get tax reprieve from Mexico's president
CGMA Magazine
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Asia
10 predictions for the Chinese market
McKinsey predicts how important innovations and productivity will be to Chinese companies in 2014, what the government is most likely to focus on, which infrastructure projects will have priority, and what’s likely to happen in the Shanghai Free Trade Zone.
McKinsey Insights
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India's finance minister projects return to economic high growth
India’s economic growth has slowed in the past two years, reflecting a worldwide trend. But the nation’s finance minister projects a return to rapid growth within three years.
Times of India
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Australia/Oceania
OECD gives Australia's anti-bribery effort a failing grade
Australia is much too lax in its anti-corruption efforts, according to a scathing report by the Organisation for Economic Co-operation and Development. Australian companies doing business overseas should take four tips to heart to reduce their risks.
ABCNews | The FCPA Blog
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Europe
European countries among the best prepared to benefit from globalization
European countries dominate the top 10 rankings international accountancy and consultancy network UHY Advisors established to determine how prepared 27 economies were to take advantage of future trade globalization. See which European country topped the list.
CGMA Magazine
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Swiss court stops handover of tax information to US
A Swiss court ruled in favor of a Julius Baer customer who sued to prevent the Swiss bank from handing over information on U.S. account holders to the Internal Revenue Service.
CGMA Magazine
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Draghi's assessment of EU deflation risk causes discomfort
Irish Independent
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Italian designer Prada under scrutiny for tax evasion
Forbes
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Pope hand-picks new cardinal advisers to troubled Vatican bank
Montreal Gazette
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AICPA News
How to deal with conflict minerals
The AICPA has collected Conflict Mineral Resources to help auditors deal with disclosure rules mandated by the Dodd-Frank Act and passed by the Securities and Exchange Commission in August 2012. The resources include two sets of questions and answers to help accountants with independent private sector audits.
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AICPA Resources
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Global CPA Report
Lead Editor: Sabine Vollmer
AICPA
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GlobalCPAReport_Editor@aicpa.org
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The American Institute of CPAs is the world's largest member association representing the accounting profession, with more than 394,000 members in 128 countries and a 125-year heritage of serving the public interest. AICPA members represent many areas of practice, including business and industry, public practice, government, education, and consulting. Through a joint venture with the Chartered Institute of Management Accountants, it has established the Chartered Global Management Accountant (CGMA) designation to elevate management accounting globally.

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