Global CPA Report Nov.‌ 6, 2013

Top Stories
PwC plans megadeal to boost consulting business
PwC plans to buy independent management consulting firm Booz & Co. in one of its biggest acquisitions to create a global professional services competitor to McKinsey and the Boston Consulting Group. But the merger, which would boost PwC advisory offerings at a time when revenue from audit services has been flat, could pose conflicts of interest.
Financial Times | New York Times | The Australian
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How executives can make internal controls more effective
Improving internal controls can turn a struggling company into a successful one, but such a turnaround also requires executives who lead by example to effectively control fraud and protect sensitive data.
CFO Magazine
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Eight mottoes successful people live by
If very successful people had a list of mottoes, it would include reminders such as “don’t have a backup plan” and “don’t follow the herd.” Find out about the eight pieces of wisdom on the list and why they work.
TheDailyMuse.com
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Africa
Eight steps to unlock value through strategy
A South African business consultant outlines eight steps owners of small, privately held companies can take to boost the value of their businesses.
Accountancy SA
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Americas
Smart ways to tap accountants' business process acumen
Accountants are business process experts, but few apply this expertise to avoid the frequent mistakes organizations can make during the implementation of business solutions software, an effort usually dominated by IT experts. Find out how accountants can get involved every step of the way.
CGMA Magazine
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IRS lacks teeth to enforce penalties under health care law
The IRS could have a tough time enforcing compliance under the Affordable Care Act. Lawmakers did not allow the agency to use its usual tax-collection tools to penalize people for not obtaining health insurance.
USA Today/The Des Moines Register
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Leadership lessons from innovator Sal Khan
Sal Khan, an investment analyst turned education entrepreneur, talks about sparking innovation, competing for talent with the likes of Google and Goldman Sachs, and the magic of real mentoring.
Journal of Accountancy
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How to value a CPA firm for sale
One of the key components of a CPA succession plan is the sale or transfer of the retiring CPA’s ownership interest. How is the value of that interest determined? In most circumstances, the value of an owner’s interest is different when selling to an external buyer than it is in an internal transaction.
Journal of Accountancy
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IRS issues FATCA guidance for foreign financial institutions
The Tax Adviser
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Mexico's fiscal reform includes junk-food tax
NTN24
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Asia
Proposal eyes opening Chinese economy
A Chinese government think tank has called for reforms to make the Chinese economy more open and government more transparent. The proposal has been submitted to top decision-makers in the Communist Party.
Market News International
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Wealthy Japanese are torn between foreign tax loopholes
Japan Today
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Australia/Oceania
Finding a financial services job in Asia
Financial institutions in Asia continue to hire, despite signs of economic slowdown in the region. Find out which specialties are the most sought after in China, Hong Kong, Singapore, or Malaysia.
InTheBlack
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Europe
UK experiments with Islamic finance model
The popularity of Islamic finance has been rising in largely Muslim countries, but now the U.K. is following suit as the first non-Muslim country to issue Sharia-compliant bonds known as sukuk. Also, the London Stock Exchange will add a special Islamic index.
Economia
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A Swiss bank bailout success
The $31.8 billion Swiss bailout for UBS, which was once considered very risky, is shaping up as a rare success story. Swiss taxpayers, bank account holders, and small businesses count themselves among its chief beneficiaries
Swissinfo
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Recovery is taking root in Europe
Reuters
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Welsh government may gain authority to raise taxes
BBC
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AICPA News
A practical guide to understanding business valuation
"Understanding Business Valuation: a Practical Guide to Valuing Small to Medium Sized Businesses" covers all the bases in the various valuation approaches, methods, and techniques. Topics include valuation standards, theory, approaches, methods, discount and capitalization rates, and S corporation issues.
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Global CPA Report
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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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