Global CPA Report April‌ 16, 2014
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Top Stories
How to manage from the bottom up
Involving customers and large online communities in management decisions is becoming a powerful tool to influence the opinion of the highest-paid person in the room, but crowdsourcing can bog things down. The challenge is to find the right mix.
Harvard Business Review
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Retailers rush into apps for mobile payments
Retailers worldwide are rushing to create mobile payment apps to lower their transaction costs and heighten customer loyalty. The global mobile payment market is expected to expand quickly, but competition is already fierce.
Reuters
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Africa
Nigerian economy upgraded to biggest in Africa
Nigeria’s economy became the largest in Africa, ahead of South Africa’s, when economists updated the country’s GDP based on 2010 prices. The previous assessment was based on 1990 prices.
The Economist
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South Africa taxpayers get ombudsman office
SABC
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Americas
Saying goodbye to the billable hour
The owner of a U.S.-based bookkeeping and accounting services firm decided to make the leap to flat rate billing because billing by the hour was interfering with the firm’s relationship with its clients. Hear about the ups and downs of making the switch.
Journal of Accountancy
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Joint tax returns likely to cause headaches for married same-sex couples
The U.S. Internal Revenue Service for the first time will accept joint returns from married same-sex couples this tax season, but the situation is more complicated in states where same-sex marriage isn’t recognized.
The Atlantic
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Three ways for internal audit to deliver more valued business insight
People, process, communication, and relationships are pillars for internal audit to add value beyond controls assurance. Find out how to build on the pillars.
Journal of Accountancy
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Embracing the automated audit
As auditors gain more access to data and computerized procedures, they will have the chance to focus more on honing their judgment of the client’s environment. This may require additional training for the auditors, but it will produce higher-quality audits.
Journal of Accountancy
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Brazil raises tax on beer and soft drinks ahead of World Cup
The Wall Street Journal
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Top US tax law writer wants to tackle $2.1 trillion in untaxed, overseas corporate profits
Reuters
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Asia
China considers raising retirement age over next decade
Chinese government workers planning to retire according to regulations—age 60 for men, 50 or 55 for women—may have to wait a little longer. China is considering raising the retirement age by three months annually over the next decade to prevent the Chinese labor force from shrinking.
The Wall Street Journal
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Japan's central bank expects steady economic recovery
Haruhiko Kuroda, governor of the Bank of Japan, expects Japan’s economy to recover steadily without additional stimulus despite a large sales tax increase that took effect April 1.
Reuters
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Vietnamese bank execs get death sentences for fraud convictions
The FCPA Blog
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Australia/Oceania
Retirement is no match for an accountant's passion
Brian Measday, a retired accountant in Adelaide, rarely reclines in an easy chair. The inventor has to keep track of patents, distributors, licensing agreements, and marketing campaigns.
InTheBlack
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Europe
Russia to crack down on capital flight
The Russian Ministry of Finance has published a draft law that would give Russian tax authorities powerful new tools to stem the outbound flow of corporate capital from Russia into international tax havens.
Economia
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Pope lets Vatican bank stay in business
Pope Francis decided to reform rather than close the scandal-ridden Vatican bank, which had been under investigation for being used to launder money.
The Guardian | National Catholic Register | Reuters
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Strategic alliance will help KPMG provide supply chain finance to small UK businesses
Economia
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Probe into Italy's collection of unpaid taxes leads to seven arrests
ANSA
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AICPA News
Doing Business in India
The first AICPA Doing Business in India Conference on July 24 and 25 in New York will focus on providing strategic thinking, expert insights, and practical solutions and provide the latest on business trends evolving in India.
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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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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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