Global CPA Report Feb.‌ 26, 2014
Growth—It's what the CGMA designation stands for. Find out more at CGMA.org.

Top Stories
Seven misconceptions about accounting in the cloud
The managing director of a U.K. accounting firm tackles seven common misconceptions about accounting services in the cloud to make a case for an online system.
Economia
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New international framework addresses key elements of audit quality
A new international framework for audit quality takes a broad look at how the stakeholders in the audit process can work to make audits better.
Compliance Week | CGMA Magazine
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Final FATCA rules are issued
One set of regulations contains amendments to the last year’s final FATCA regulations. The other set addresses the overlap between FATCA’s rules and existing foreign reporting, withholding, and information-reporting requirements.
Journal of Accountancy
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Five ways for leaders to encourage candor
Open and honest communication between direct reports and their supervisors is a crucial component of a high-functioning organization. Find out five ways to encourage candor.
CPA Insider
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Africa
How one of Africa's poorest nations reformed its tax collection system
Burundi, a landlocked country in southeastern Africa, is one of the poorest nations on the continent. It turned its revenue authority, the Office Burundais des Recettes, into a model institution. Find out how.
AllAfrica
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Nigerian central bank governor suspended over fraud allegations
Financial Times
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Americas
Challenge yourself in the high school accounting game
Test yourself with 10 sample questions taken from “Bank On It,” a new online game that was inspired by content in accounting textbooks and created for high school students.
Journal of Accountancy
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Seven ways for small businesses to rein in health care costs
New U.S. health care regulations have small business leaders bracing for increased costs and eager to save where they can. Here are seven cost-saving strategies.
Journal of Accountancy
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How to apply the revised AICPA ethics code
A case study follows the steps a director of finance for a New York-based manufacturing company takes when he encounters a tricky situation and refers to the revised AICPA ethics code. The revamped code will be effective Dec. 15.
Journal of Accountancy
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Apple opens first store in Brazil
International Business Times
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Asia
Slowing economic growth has Japan worried about tax increase
Japan keeps a wary eye on the U.S. economy as slowing economic growth is giving rise to fears that an April tax increase will hamper a budding Japanese recovery after two decades of economic stagnation.
JapanToday
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Chinese economic policy shifts eastward
China’s economic policy has changed under the leadership of President Xi Jinping. It now focuses on coastal eastern provinces, which could lead to bigger wealth disparities between China’s western and eastern parts as the country’s economic growth slows.
The Economist
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Chinese civil servants prohibited from having extramarital affairs
FCPA Blog
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IMF: Indian economy to grow 5.4% next year
The Economic Times
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Australia/Oceania
Ways to determine when financial advice fees are tax deductible
No rules exist in Australia to guide investors on deducting financial advice fees from their taxes, but there are ways of dealing with other fees that offer guidelines.
InTheBlack
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Whistleblower protections get overhaul in Australia
FCPA Blog
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Europe
Change in sick pay regulations could be lethal to small UK companies
Employment tax specialists think a change in sick pay regulations will threaten some of the smallest U.K. companies.
The Telegraph
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UK golf clubs hope EU court ruling on VAT produces cash injection
Economia
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AICPA News
Resources that reduce your noncompliance risk
Whether you are a financial manager looking to ensure that your financial statements are in compliance with U.S. Financial Accounting Standards Board disclosure requirements or a preparer working on your auditor’s report, Corporations: Checklists and Illustrative Financial Statements has you covered. The wide variety of resources found within this essential checklist will save you countless research hours and reduce your risk of noncompliance.
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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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