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Our online community became 12 years old on 1 April (no - not an April fool - we really have been doing it this long and our newswire - Double Entries - was going for some years before this and is now in its 17th volume!)
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Latest News
75% OF CEOS ADMIT THERE IS ROOM FOR IMPROVEMENT IN THE MEASUREMENT OF NON-FINANCIAL VALUE
01 February 2012
In the wake of the financial crisis, three-quarters of the world’s CEOs say more emphasis should be placed on measuring the value of non-financial assets such as intellectual capital and customer relationships to drive long-term performance, according to research from the American Institute of CPAs and Chartered Institute of Management Accountants. But just 51 percent of nearly 300 CEOs surveyed in 21 countries say their organizations currently measure the value of non-financial assets well or very well. And only 12 percent now turn to their finance teams for help with the task.
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US CHAMBER OF COMMERCE ISSUES REPORT FOR IMPROVING SEC OPERATIONS
30 January 2012
The Center for Capital Markets Competitiveness of the US Chamber of Commerce has issued U.S. Securities and Exchange Commission: A Roadmap for Transformational Reform (the Roadmap), which contains numerous proposals for overhauling the SEC's operations. In addition to recommending that the number of Commission members be increased from five to seven, the Roadmap makes numerous proposals for eliminating the agency's structural weaknesses and enhancing its labor flexibility.
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THE IIA SEEKS NOMINATIONS FOR 2012 AWARDS
30 January 2012
The Institute of Internal Auditors (IIA) is asking for nominations for its three highest and most prestigious awards. All three awards recognize individuals who have made outstanding achievements in the field of internal auditing. The deadline for nominations is February 28, 2012.
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ICAS COMMENTS ON EXECUTIVE REMUNERATION PROPOSALS: EVOLUTION NOT REVOLUTION
29 January 2012
James Barbour, technical policy director at ICAS, said: “We are supportive of the move not to include pay ratios. This would have been a misleading measure, which wouldn’t have provided a true evaluation. However, we have issues with some of the measures proposed. We don’t support the mandatory shareholder vote and would question if a binding vote is really necessary. Dissatisfied shareholders already have the additional option of voting against the annual re-election of the remuneration committee chairman."
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COMPETITION AIMS TO PROMOTE DEBATE ABOUT SUSTAINABILITY
29 January 2012
ICAS has announced details of a £5,000 essay competition designed to promote debate about sustainability. The competition, sponsored by Grant Thornton, is designed to increase awareness of environmental sustainability and the role that the accountancy profession has to play in this important subject.
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ICAI SAY FRANCE AND GERMANY CANNOT BE ALLOWED TO DETERMINE EU TAX POLICY
29 January 2012
The priorities of the European Union are determined by the country which holds the EU Presidency of the Council of the European Union. Despite reports of renewed efforts by France and Germany to fast-track CorporationTax harmonisation proposals within the European Union, it is up to the Presidency to decide - ICAI make clear in a statement issued this week. While the Danes make reference to Common Consolidated Corporate Tax Base proposals in their agenda for their Presidency, their tax priorities seem to lie in the area of environmental taxation and modernising the existing EU wide rules.
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CIMA PUBLISHES NOVEMBER 2011 EXAM RESULTS
29 January 2012
The Chartered Institute of Management Accountants (CIMA) has published its November 2011 results which mark the fourth session of exams of the 2010 syllabus. Prize-winners and commendations in individual papers included students employed by Arcadia Group Ltd, Centrica plc, ICAP plc, Network Rail, and the UK NHS. An increasing proportion of students are sitting the CIMA exams outside the UK, reflecting the fact that the CIMA qualification is truly global.
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CGA-CANADA APPLAUDS RECOMMENDATION DELIVERED BY THE RED TAPE REDUCTION COMMISSION
29 January 2012
The Certified General Accountants Association of Canada (CGA-Canada) has welcomed the release of the comprehensive report by the Red Tape Reduction Commission and congratulated the Commission for its dedicated work over the past year. The report provides a number of recommendations towards real and lasting results in tackling red tape and regulatory inefficiencies.
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IAASB FOCUSES ON CAPITAL MARKETS - ISSUES NEW ASSURANCE STANDARD ON PRO FORM FINANCIAL INFORMATION
29 January 2012
Recognizing the need for reliable information in domestic and cross-border securities offerings and other fundraising activities, the International Auditing and Assurance Standards Board (IAASB) has released new International Standard on Assurance Engagements (ISAE) 3420, Assurance Engagements to Report on the Compilation of Pro Forma Financial Information Included in a Prospectus.
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IESBA PROPOSES CHANGES TO THE CODE OF ETHICS FOR PROFESSIONAL ACCOUNTANT TO ADDRESS CONFLICTS OF INTEREST
29 January 2012
The International Ethics Standards Board for Accountants (IESBA) is proposing changes to its Code of Ethics for Professional Accountants (the IESBA Code) to provide additional guidance to professional accountants in business and in public practice concerning conflicts of interest, and to make revisions to provide more comprehensive guidance in identifying, evaluating, and managing conflicts of interest.
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Adverts:
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Member Offers
Forensic Accounting Course
This new, online, course takes the student through the day to day work of a forensic accountant, including - fraud investigations,
- damages assessments,
- valuations and
- legal proceedings.
Perfect for extending students’ understanding of this increasingly important field.
accountingcpd.net are offering members a 60% student discount. For a review copy or more information contact andrew.turner@nelsoncroom.co.uk or 020 7582 3309.
Accounting, Auditing and Accountability Journal
SPECIAL OFFER! - Emerald is pleased to offer all users of AccountingEducation.com FREE access to selected articles from AAAJ. The journal, now in its 24th volume, will publish eight issues in 2011. At least one article from each issue will be freely accessible!
Latest addition - "Climate change: Explaining and solving the mismatch between scientific urgency and political inertia by Jonathan Boston and Frieder Lempp (AAAJ - Vol. 24 Iss. 8)
Access other articles from the 2008, 2009, 2010 and 2011 volumes here.
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