Not Enough People Read Their Governments’ Consolidated Financial Report
by Hon. David M. Walker, Former US Comptroller General, Senior Strategic Advisor, PwC

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Discussion | SME Audits: Challenges and Insights The World Bank’s Center for Financial Reporting Reform (CFRR) summarizes challenges and insights in conducting audits of small- and medium-sized entities (SMEs) from their recent publication.

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Resources | View All Improving Your Audit Process, Part 8: Effective Engagement Leader Involvement Article | Accounting Web Audit Data Analytics Alert: Keeping Up with the Pace of Change Guidance | CPA Canada The CPA's Role in Sustainability Assurance Report | American Institute of CPAs Improving Your Audit Process, Part 5: Developing Cost-Beneficial Audit Strategies Article | Accounting Web

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News | View All Why Is It Proving So Hard to Lift Audit Quality? June 23, 2016 | The Accountant CAQ "Profession in Focus," Episode 25 June 22, 2016 | Center for Audit Quality Improving Your Audit Process, Part 7: Combining Risk with Materiality June 22, 2016 | Accounting Web Saudi Regulator Bans Deloitte's Audit Unit for Two Years June 21, 2016 | Economia EU Audit Reform Implementation State of Play June 20, 2016 | International Accounting Bulletin Open Board Meeting to Consider Reproposing Standard on the Auditor's Reporting Model June 20, 2016 | Public Company Accounting Oversight Board Latest Audit Shake-Up to Trigger £10bn Competition for Contracts June 17, 2016 | The Telegraph Super Friday: The Dawning of a New Era for Auditors June 17, 2016 | Economia Improving Your Audit Process, Part 6: Eliminating Excessive Audit Evidence June 17, 2016 | Accounting Web Leader: Audit Competition Drives Change, Not Necessarily Quality June 17, 2016 | Accountancy Age Inventory Subledger Audit Data Standard–Exposure Draft June 16, 2016 | American Institute of CPAs PCAOB Sanctions Five Firms and Seven Individuals for Audit Failures, Violations of Engagement Quality Review Rules, or Noncooperation with an Investigation June 15, 2016 | Public Company Accounting Oversight Board The Psychology behind Good Judgment June 1, 2016 | Journal of Accountancy

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Discussion | 11 Reasons to Be Transparent on Tax This article provides a series of arguments to counter the logic behind recent initiatives in the EU toward greater transparency in country-by-country reporting of tax for large multinationals.

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Resources | View All Statement on NON-GAAP Financial Measures Guidance | International Organization of Securities Commission Integrated Reporting PAO Network Website/Resource Center | IFAC, IIRC Creating Value with Integrated Thinking Report | IFAC

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News | View All IASB Chairman Speaks on the IASB's Reactions to the Global Financial Crisis June 27, 2016 | IAS Plus Investor Perspective: Better Communication—A Table Is Worth 1,000 Words June 27, 2016 | IFRS Foundation IFRS 9 Endorsement in the EU Takes Next Hurdle June 27, 2016 | IAS Plus Revenue Recognition: A Changing Regulatory Landscape June 27, 2016 | Accounting Web Financial Reporting Alert 16-1, Financial Reporting Considerations Related to the UK’s Vote to Leave the EU June 24, 2016 | IAS Plus The Drive for Disclosure: What Matters and What Doesn’t June 24, 2016 | Environmental Leader IFRS Foundation Revises Due Process Handbook to Incorporate IFRS Taxonomy June 23, 2016 | IFRS Foundation IASB Member Discusses Principle-Based Accounting June 21, 2016 | IAS Plus Concerns Raised over Lack of a Harmonised European Accounting Framework for SMEs June 20, 2016 | International Accounting Bulletin US SEC Accountant Urges Vigorous Pursuit of Revenue Questions June 17, 2016 | BloombergBNA US FASB Issues New Guidance on Accounting for Credit Losses June 17, 2016 | FASB Integrated Reporting: What Do Accountants Need to Know? June 15, 2016 | AccountingCPD.net IFRS Foundation Appoints New Members to the SME Implementation Group June 15, 2016 | IFRS Foundation

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Discussion | It’s Not Window Dressing for Us: ICAS’s Ethics Board A few years ago, ICAS established its own Ethics Board; Chief Executive Anton Colella explains why, it’s governance and leadership, and how it is structured to be a key part of ICAS’s strategy.

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News | View All NSE Signs Business Code of Ethics June 22, 2016 | Citizen Digital Business Is As Ethical As It Has Ever Been June 21, 2016 | Financial Times EU Audit Reform Implementation State of Play June 20, 2016 | International Accounting Bulletin The Public Interest: Client Confidentiality Versus Disclosure of an Illegal Act June 17, 2016 | AICPA Insights SingPost Unveils Ethics and Business Code in Wake of Corporate Governance Lapses June 16, 2016 | The Straits Times Four Ways Your Leadership May Be Encouraging Unethical Behavior June 14, 2016 | Forbes Effective Whistle-Blowing Arrangements May 10, 2016 | Association of Chartered Certified Accountants

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Discussion | AICPA PracTech Leads the Way to the Future AICPA PracTech 2016 shines light on the future of the accounting profession as new technologies, advisory services, and leadership approaches transform the workplace.

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Resources | View All Lost in a Sea of Millennials Article | A+ Magazine Professional Accountants–The Future Report | Association of Chartered Certified Accountants

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News | View All TED Talks That Will Inspire CPAs June 27, 2016 | Journal of Accountancy What Makes a Perfect Professional? June 27, 2016 | Vertical Distinct Top Four Things CEOs Want in Their CFO June 23, 2016 | Forbes Hong Kong Institute of CPAs' New Qualification Programme Consultation June 23, 2016 | Hong Kong Institute of Certified Public Accountants Management Accounting Profession to Build Relationships, Not Walls, Outside America June 22, 2016 | The Accountant New Skills Framework for Accountancy Sector June 22, 2016 | Straits Times CAQ "Profession in Focus," Episode 25 June 22, 2016 | Center for Audit Quality IMA ACE 2016: Highlights June 22, 2016 | Institute of Management Accountants Compliance Costs, Complexity Rising in Finance June 21, 2016 | Journal of Accountancy IMA Conference Kicks Off at Tipping Point for Global Management Accounting Profession June 20, 2016 | International Accounting Bulletin The Imperial CFO June 17, 2016 | The Economist Navigating the Perfect CFO Storm June 17, 2016 | Accounting Today The Internet of Things Is Already Here. Are You Ready For It? June 16, 2016 | AICPA Insights What a Future CFO Should Be June 16, 2016 | Finance for the Future Awards AICPA Announces Graduates of 2016 Accounting Scholars Leadership Workshop June 16, 2016 | Accounting Today How to Make Accounting Cool Again–Three Ways to Innovate and Attract New Talent June 15, 2016 | CPA Practice Advisor How Women Can Climb the Ranks in the Accounting Profession June 15, 2016 | Accounting Web International Compliance Gives FDs ‘An Almighty Headache’ June 15, 2016 | Accounting Web The Psychology behind Good Judgment June 1, 2016 | Journal of Accountancy

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News | View All Study Says Staggered Board Elections Stymie Improvement of Audit Committees June 21, 2016 | Accounting Education King IV Sector Supplements June 20, 2016 | IoDSA SingPost Unveils Ethics and Business Code in Wake of Corporate Governance Lapses June 16, 2016 | The Straits Times

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Discussion | Culture and Cost Control Go Hand in Hand Accountants influence cost control; ultimately it is your organization’s culture that ensures cost-control efforts are effective.

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Resources | View All Three Takes on How to Improve Your Business Article | AccountancySA Financing Growth; SMEs in Global Value Chains Document | BIAC Financial Management and Business Success–A Guide for Entrepreneurs Article | Association of Chartered Certified Accountants

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News | View All Four Key Questions Clients Ask about Small Business Financing June 23, 2016 | Accounting Web Continuous Accounting: A Marathon, Not a Sprint June 22, 2016 | Accounting Today Cyber Security Breaches Survey 2016 June 22, 2016 | Gov.UK What Is Crowdfunding for Small Business? June 22, 2016 | Minority Business Development Agency Compliance Costs, Complexity Rising in Finance June 21, 2016 | Journal of Accountancy

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Discussion | Finding Talent, Keeping Talent SMPs must address the challenge of finding