Global CPA Report May‌ 28, 2014
Spotting Fraud  Free Guide for Non-Profits

Top Stories
Fraud costs businesses nearly $3.7 trillion annually
Experts estimate about 5% of business revenue worldwide is lost to fraud every year. A new report examines which anti-fraud measures are the most effective.
CGMA Magazine
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How to prospect for new clients on LinkedIn
The social network provides an easy way for accountants to find potential clients in targeted industries and locations.
CPA Insider
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Three signs you're in the wrong job
Your accounting career can get off track gradually and without notice. Here are three ways to detect the warning signs that your career is straying off course.
AICPA Insights
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Americas
Five trends CPAs can't ignore
Find out which external factors are expected to most affect the accounting profession in coming years and present challenges to CPAs.
Journal of Accountancy
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Watchdog detects $2.3 billion alimony tax gap
Discrepancies between alimony income reported by taxpayers and alimony deductions claimed resulted in an excess of $2.3 billion in deductions in 2010, the Treasury Inspector General for Tax Administration reported.
Journal of Accountancy
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What CPAs and their clients need to know about accounting software data
The IRS can request not only taxpayers’ paper documents but also their data and backup files as well as information on who kept the records and when changes were made to those records. This means that accountants and their clients need to know not only how to use the accounting software, but also what they can and cannot do with the computer records when a client is audited.
The Tax Adviser
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SEC loses second chief accountant in two years
Journal of Accountancy
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Asia
India's new government has lengthy to-do list
India’s newly elected Prime Minister Narendra Modi and his Bharatiya Janata Party must reform the nation’s bureaucratic government and revive an ailing economy to deliver on his campaign promise.
Business Today | Business Standard
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Multinationals with trade disputes in China risk cybertheft
The cybertheft charges against five Chinese military personnel suggest that multinational companies that defy China in trade disputes run the risk of military hacking attacks.
New York Times
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Proposed rules target foreign auditors in China
Chinese regulators have proposed new rules that would further limit the ability of international accounting firms to audit companies in mainland China.
The Accountant
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Profits from slave labor highest in Asia
Asia generates about one-third of worldwide illegal profits from forced labor, according to a report by a United Nations agency.
Business World
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Anti-corruption crackdown ensnares Chinese corruption investigator
FCPA Blog
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Chinese financial think tank to spearhead reform
ShanghaiDaily
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Europe
Transatlantic trade dispute over Boeing and Airbus may heat up
The European Union may challenge $8.7 billion in tax breaks Boeing received, potentially reigniting the trade dispute between the U.S. and the EU over financial support of the aerospace giant and its European rival, Airbus.
Reuters
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Why the top Credit Suisse managers shouldn't have to step down
An expert on international corporate law argues that Credit Suisse’s guilty plea to tax evasion and $2.8 billion fine doesn’t mean top managers at the Swiss bank should step down.
SwissInfo
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Russia signs $400 billion deal to supply gas to China
Moscow Times
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Train stations too small for new French trains
Financial Times
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AICPA News
Global hospitality industry conference
The 2014 AICPA Global Hospitality Conference, to be held June 18–20 in Las Vegas, will provide strategies and tools to optimize effectiveness within organizations and create opportunities for growth. This global conference was developed to provide critical insights and guidance on the latest techniques, international regulations, tax updates, franchising issues, marketing, and more.
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Global CPA Report
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AICPA
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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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