Global CPA Report Oct.‌ 23, 2013
Journal of Accountancy Special Advertising Section on Payroll. Boost your bottom line!

Top Stories
How to understand difficult communicators
Find out why it is important to understand what a difficult communicator has to say—and how to cut through communication styles that make listening a chore.
Harvard Business Review/HBR Blog Network (10/9)
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IMF report includes surprise on how countries can fight budget deficits
The International Monetary Fund is known for suggesting that countries cut their spending to deal with budget deficits. But a report called "Taxing Times" supported taxing multinationals and individuals with the highest incomes to fight growing income equalities.
France 24 (10/12)
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Five ways accountants can get their arms around Big Data
Companies worldwide are collecting information on many fronts—including tracking the time it takes to serve a customer, weather and its effect on business, and the number of mentions on social media—but many struggle to turn the data into actionable insight.
CGMA Magazine (10/16) | TechRepublic (10/16) | Accountancy Age (10/16)
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Africa
Africa must increase tax revenue without risking foreign investments
African countries need to raise more tax revenue to upgrade critical infrastructure, but they risk compromising their rising attractiveness to foreign investors if they make mistakes or go overboard.
AllAfrica (10/14)
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Americas
How to network and find new clients across borders
Social media can help target potential new clients from overseas, but it can be difficult to know when to use technology and when to rely on tradition. Take the quiz and test your networking skills.
Journal of Accountancy (10/2013)
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U.S. government reopens for business
With pressure from U.S. businesses and foreign creditors mounting, U.S. lawmakers passed a compromise to end a 16-day government shutdown and agreed to fund the government through Jan. 15 and raise the debt limit through Feb. 7. The agreement included one tax item, affecting the Sec. 36B health insurance premium credit.
The New York Times (10/16) | Financial Times (10/17) | Journal of Accountancy (10/16)
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Salaries, demand on the rise for U.S. accounting professionals
Journal of Accountancy (10/11)
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SEC chief calls for review of disclosure rules for financial information
Reuters (10/15)
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Discount airlines are transforming transportation in Latin America
The Wall Street Journal (10/16)
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Asia
India to relax rules for foreign lenders
Raghuram Rajan, governor of the Reserve Bank of India, said the central bank will announce new rules to allow foreign lenders more freedom to do business in India, including permitting takeovers of Indian banks.
The Economic Times (10/15)
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How to do business in Sri Lanka
An insider's view of a country that is making steady progress in rebuilding after a 30-year civil war. Working in Sri Lanka requires patience, but people are creative and flexible and many Sri Lankans are returning from overseas.
FM Magazine (9/19)
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Emerging markets' demand for Chinese-made goods slows
Reuters (10/17)
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Australia/Oceania
Accounting firm merger opens new markets
Grant Thornton made a bold move when it came across a struggling competitor that served sought-after market sectors in Australia: The accounting firm merged with the competitor by acquiring the assets but not the entity itself.
InTheBlack (10/18)
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Newly elected Australian prime minister sets out to repeal controversial carbon tax
BBC (10/15)
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Europe
UK regulator creates 10-year retendering requirement
Companies in the FTSE 350 will be required to place their audit contracts out for bid every 10 years under new rules announced Tuesday by the U.K. Competition Commission. The rules represent a softening of the five-year mandatory retendering proposed earlier by the commission.
CGMA Magazine (10/15)
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Investigation finds €300 million in illicit funds at papal bank
An investigation of about 30,000 accounts found more than 1,000 customers who improperly enjoyed the discreet business practices of the Vatican Bank. Bank officials suspect the approximately €300 million (about $410 million) in the accounts is illicit and the customers have been asked to transfer the money to another bank.
Der Spiegel (10/8)
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Many UK finance chiefs lack information to avert a cyberattack
A PwC survey of 196 U.K. companies found that more than half of the finance directors at the largest companies do not have enough information to prevent hackers from compromising their computer systems in a cyberattack.
Financial Times (10/13)
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EU countries consider how to fix their failing banks
Reuters (10/13)
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AICPA News
What the future holds for the CPA profession
The final video in the AICPA Thought Leadership series on templosion addresses the drastic changes the CPA profession will go though in the next five years. Firms need to remember to anticipate these changes to be able to bring in the next generation, maintain the culture that they want, and think big in terms of ideas and innovation that will move their organizations forward.
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Join the AICPA Academics LinkedIn group
The AICPA has launched the Academics LinkedIn group with the aim of providing accounting educators and those who work and serve in accounting education with a social media space for engagement, collaboration, and exploration of teaching and research best practices. It will also serve as a space to network with peers and learn of trends in higher education, classroom resources, events, and learning and award opportunities.
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AICPA Resources
Contact Us
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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