Accounting goes digital
The unstoppable march of digitalization will touch every area of government and business, accountancy included. Will accountants be able to adapt?
From Trump to Brexit, recent populist movements have turned away from globalization. Whether you agree with such protectionist politics or not, it is indisputable that the rest of the world is continuing to move towards an ever more global market. Multinational corporations have proliferated. Distance is no longer a barrier to governments or business, promoting increased transactions from abroad. Such progress calls for accountancy to develop competitive advantages that meet these new demands.
Report: To Deter Fraud, Companies Should Focus on Complex Accounting Areas
Washington, DC – Improved accounting policies and internal controls are key for stemming fraud and reducing the number of financial restatements, according to a new report from the Anti-Fraud Collaboration. The report, Addressing Challenges for Highly Subjective and Complex Accounting Areas, compiles leading-practice recommendations from dozens of company executives, corporate directors, auditors, and regulators who attended two 2016 workshops to discuss ways to help deter fraud and enhance financial reporting.
“Companies are sharing leading practices and voluntarily working with regulators to help deter and detect financial reporting fraud,” said Cindy Fornelli, executive director of the Center for Audit Quality (CAQ), on behalf of the Anti-Fraud Collaboration. “The Anti-Fraud Collaboration is pleased to present these recommendations to help companies improve their accounting policies and system of internal controls. Investors, our capital markets, and public companies all win when we work together to combat fraud.”
AICPA to Share Thought Leadership and Educational Materials with Lebanese Association of Certified Public Accountants
NEW YORK (Nov. 16, 2015) – As part of its commitment to building relationships with counterparts in the Middle East, the American Institute of CPAs recently entered into several agreements with the Lebanese Association of Certified Public Accountants (LACPA) to share Institute resources promoting professional expertise and enhanced quality of services.
“We’re excited to have a closer working relationship with LACPA and its members,” said Joanne Fiore, the AICPA’s vice president of professional media, pathways and inclusion. “The agreements we now have in place allow the AICPA to strengthen and expand the bonds it has formed with accounting organizations in the region.”