Global CPA Report Nov.‌ 27, 2013

Top Stories
The global corporate tax burden shifts
The corporate tax burden has fallen nine percentage points worldwide in the past decade, but that doesn’t mean the kinds of taxes companies pay have decreased equally. Some have taken on a bigger portion of the tax burden.
Financial Times
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What's value accounting?
More than 3,000 companies worldwide produce sustainability reports. A new initiative by the International Integrated Reporting Council zeros in on the creation of value.
CAMagazine
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What makes a leader
Find out what leadership model is emerging in the knowledge economy, where collaboration and innovation are key.
Strategy+Business
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Africa
Much of Ghana's oil industry is registered in tax havens
The Africa Centre for Energy Policy warns that Ghana risks losing tax revenue. Most of the country’s oil companies are registered in tax havens, which prevents a proper assessment of tax liabilities, according to the policy organization.
GhanaWeb
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Americas
More transparency sought from audit committees
A consortium of U.S. governance organizations is calling on public company audit committees to enhance reporting about their activities. Increasing transparency about the audit committee’s roles and responsibilities could increase investor confidence, according to the Center for Audit Quality, which is affiliated with the American Institute of CPAs.
CGMA Magazine
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U.S. multinationals wary of proposed corporate tax reform
Senate Finance Committee Chairman Max Baucus has proposed an overhaul of the corporate tax code. The proposal includes lower tax rates, but corporate America isn’t excited.
The New York Times | Quartz
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Opinion The trouble with GAAP-based income statements
Many companies and investors struggle with income and expenses classified according to generally accepted accounting principles. GAAP-based income statements can lead to distortion and confusion, but a proposal by two McKinsey consultants offers a way out.
CFO Magazine
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Resignation of Argentine commerce secretary could lead to economic moderation
Market News International
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Bank lobbyists ask for delay of FATCA implementation
Reuters
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IASB releases new rules to better reflect hedge accounting
Journal of Accountancy
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High tax rate slows bicycle sales in Brazil
The Rio Times
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Asia
Demand for forensic accounting rises in Indonesia
Forensic accounting is gaining popularity in Indonesia as an increasing number of corruption and bribery cases come to light, writes Hendi Yogi Prabowo, director of the Center for Forensic Accounting Studies at the Islamic University of Indonesia.
The Jakarta Post
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Indian leaders disagree on how to revive economic growth
India’s finance minister and the head of the Reserve Bank of India agree on the importance of reviving the country’s economic growth, but the two leaders don’t see eye-to-eye on how to tackle the soaring inflation that’s eroding the Indian middle class’s purchasing power.
The Economic Times | The Indian Express/Press Trust of India
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China's central bank plans to relax trading controls on yuan
ChinaDaily
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Vietnam tightens rules to avoid shopping for tax treaty benefits
Vietnam Briefing
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Europe
NSA spying puts EU-US free trade talks to test
A special debate in the German Bundestag about the alleged spying by the U.S. National Security Agency in Germany led to calls for the suspension of trade talks between the European Union and the U.S. German Chancellor Angela Merkel also explicitly linked the NSA spying affair and the trade negotiations.
Deutsche Welle/Agence France-Presse/The Associated Press | BBC | Financial Times
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Analysis Interim nuclear deal with Iran promises economic benefits for Europe
An interim agreement to limit Iran’s nuclear program is expected to benefit European carmakers and companies dealing in petrochemicals and aviation parts. The agreement was negotiated between Iran and six world powers, including the U.S. and the European Union, and caused concern in Israel.
Bloomberg | Tehran Times | The Jerusalem Post
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Ukraine calls off trade agreement with EU
Ukraine’s parliament decided against a landmark trade agreement with the European Union after Russian President Vladimir Putin warned of consequences and instead proposed a trilateral commission between Ukraine, Russia and the EU.
The Moscow Times
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AICPA News
How to deal with white collar crime
White Collar Crime: Core Concepts for Consultants and Expert Witnesses deals with fraud investigation in the real world by following a flexible approach and relying on the authors’ fraud investigation and FBI forensics experience in dealing with the prosecution of white-collar criminals.
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Global CPA Report
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AICPA
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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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