Global CPA Report March‌ 5, 2014
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Top Stories
Three ways to own up to a mistake and save your career
Human error is responsible for the vast majority of mistakes in the workplace, international research suggests. If you are inclined to hide your mistakes, think again. There are ways to handle a mistake without hurting your career.
InTheBlack
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The brightest global growth prospects in 2014
The global economy is still in recovery, but the uncertainty that clouded forecasts a year ago is beginning to lift. Several bright growth prospects are emerging among developed and developing markets.
CGMA Magazine
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Where are income taxes the highest?
PwC and statisticians at the Organisation for Economic Co-operation and Development analyzed widely differing tax rates worldwide to find out which countries take the biggest bites out of paychecks.
BBC
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Africa
How South Africans can find relief from double taxation
A draft released by the South African Revenue Service provides guidance on rebates and deductions that South African taxpayers can claim to get relief on foreign taxes on income.
Tax-News
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Americas
Economic crime is rebounding in the US
Economic crime is on the rise everywhere in the U.S., a PwC poll suggests. An increase in cases ranging from tax scams to identity theft made 2013 one of the most challenging for the Internal Revenue Service.
Journal of Accountancy | Journal of Accountancy | Compliance Week
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How real work experience helps accounting and finance students and businesses
Getting work experience while in college can give accounting and finance students an edge in their post-graduation job search. Meanwhile, businesses that provide work opportunities for students can build a network of promising talent that will pay big dividends in the future, experts say.
Journal of Accountancy
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Undersea cable is best hope for EU and Brazil to thwart US spying
ZDNet
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FCPA-related costs for Wal-Mart expected to add up to about $500 million by 2015
FCPA Blog
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Canada ups the ante with new offshore tax informant program
International Tax Review
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Asia
Asia adds more than 200 billionaires in a year
The number of billionaires worldwide has reached record levels, and many additions to the global rich list have been in Asia.
JapanToday
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High-profile corruption probes cause US firms in China to focus on compliance
U.S. companies in China have turned their attention to compliance with China’s domestic laws following several high-profile probes by the Chinese government into corruption, according to the American Chamber of Commerce in Shanghai.
Reuters
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Two senior civil servants in Singapore get tough sentences for corruption
Australia Network News
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Australia/Oceania
Australian regulator in hot seat for unwillingness to pursue insider trading
The head of the Australian Securities and Investments Commission appeared before a committee of the Australian Senate to explain why insider trading and breaching director’s duties can be highly profitable but carry little risk of getting caught.
Sydney Morning Herald
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Europe
Large insurance firm could quit Scotland if voters back independence
Edinburgh-based Standard Life, which has nearly 4 million U.K. customers and 5,000 employees in Scotland, says it will take “whatever action necessary” to protect its business in the event of a “yes” vote on an independence referendum set for Sept. 18.
The Guardian
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Spain ordered to repay billions in illegal fuel taxes
Europe’s highest court ruled that Spain for 10 years collected an illegal fuel tax. The ruling allows consumers to reclaim billions in euros.
Reuters
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UK retailer claims another court victory in cross-border tax dispute
AccountancyAge
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US prosecutors say Credit Suisse helped Americans avoid $10 billion in taxes
Economia
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AICPA News
Excel for Accounting Professionals
The Excel for Accounting Professionals webcast series, from March 18 to 27, walks through Excel features, functions, and techniques that will save you time. This is a comprehensive Excel series designed to help you tackle real-world issues and build some fairly robust workbooks.
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Finance and accounting skills businesses will expect worldwide
A new syllabus that was launched by the Chartered Institute of Management Accountants (CIMA) is designed to provide students with the accounting and finance skills, business acumen, people skills, and leadership skills required by businesses throughout the world. The 2015 Professional Qualification Syllabus, which was developed in consultation with employers and finance leaders, is of increasing importance to AICPA members. Starting in 2015, CPAs will be required to pass an exam based on the CIMA syllabus to obtain the CGMA designation.
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Global CPA Report
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About the AICPA
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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