Global CPA Report Jan.‌ 15, 2014
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Top Stories
Six scientific insights about leadership
Some leadership lessons are based on more than business school knowledge. These six insights about what makes a leader are supported by cutting-edge brain research.
Strategy+Business
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How to identify risks hidden in unstructured data
Accountants and management have long used internal controls to identify, assess, and manage risks. What often goes unmonitored is a broad universe of data including email, desktop documents, internet logs, phone calls, text messages, and even social media messages and online customer product reviews.
Journal of Accountancy
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Africa
How to solve Africa's unemployment challenge
Large-scale unemployment could undo Africa’s rising economic growth. The chairman of Heirs Holdings, an African investment company, argues that what is needed is a coordinated effort similar to the U.S. Marshall Plan that helped rebuild Europe after World War II.
This Day Live
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Americas
Five key challenges Janet Yellen must tackle
David Stockton, former director of the research and statistics division at the Board of Governors of the Federal Reserve System, suggests that Janet Yellen, the Federal Reserve’s new head, will need all of her strengths to tackle five key challenges the central bank faces.
Peterson Institute for International Economics
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How to start a successful cross-border investigation
Many companies aren't prepared to handle cross-border investigations of matters such as fraud, corruption, misconduct, or data breaches, and training in this delicate, culturally sensitive task is often neglected, according to a new report.
CGMA Magazine
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Seven changes the new revenue recognition standard may bring
Companies need to be aware of these possible changes as the U.S. Financial Accounting Standards Board and the International Accounting Standards Board put the finishing touches on a new revenue recognition standard.
Journal of Accountancy
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SEC looking to broaden FCPA to include commercial bribery
The U.S. Foreign Corrupt Practices Act focuses on bribing government officials. But the U.S. Securities and Exchange Commission will not shy away from including commercial bribery in an FCPA investigation, if such corruption results in inaccurate accounting or undermines a company’s internal controls.
The FCPA Blog
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Three key drivers of exceptional companies
The best companies follow three basic rules, Deloitte thought leaders found by analyzing 45 years’ worth of data on 25,000 public U.S. companies.
CGMA Magazine
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IRS doubles efforts to prosecute identity theft
The Washington Post/The Associated Press
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Canadian dollar sinks as trade deficit rises
Bloomberg
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Argentina battles inflation by freezing prices
Financial Times/Beyondbrics blog
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Asia
Chinese shadow banking rules get stricter as debt audit reveals rising problem
China’s state council issued stricter guidelines on off-balance-sheet lending as a debt audit suggests that local governments in China are increasingly relying on less-regulated shadow banking, which offers riskier loans at higher interest rates than regular banks.
Reuters | Bloomberg
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Sales that present an accounting problem
The Hindu Business Line
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Australia/Oceania
Australia struggles with budget as tax revenue remains low
Australia’s tax revenue has dropped further in the past five years than in most other countries affected by the global financial crisis, which is making it difficult to come up with a budget that is in the black.
The Australian
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Europe
Europe wrestles some control over natural gas prices from Russia
A switch to spot market trades has lowered the natural gas prices in Europe in the past five years, threatening high profit margins that Gazprom, a Russian state-controlled company, has been able to generate through long-term contracts with European buyers. Gazprom supplies about one-quarter of the natural gas used to heat homes, produce electric power, and run industrial plants in Europe.
The Economist
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Unemployed in Europe hobbled by lack of technology skills
Companies that are creating thousands of innovation-based jobs in Europe are having difficulty finding candidates with the right skills. Meanwhile, unemployment rates in many European countries are stubbornly stuck above 12%.
New York Times
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France beefs up anti-graft measures
The FCPA Blog
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AICPA News
How sustainable business practices impact small businesses
Ten key elements to sustainable business practices in SMEs” provides a real-life picture of how sustainability affects the bottom line and shows how finance can harness sustainability strategy to achieve commercial benefits. This new tool draws together case studies and key lessons from small businesses across the U.K., U.S., and Canada.
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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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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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