U.S. companies need to prepare for the convergence of global accounting standards. A mid-year update of the Financial Accounting Standards Board’s agenda left no doubt that the group is actively planning for U.S. GAAP to be replaced by International Financial Reporting Standards (IFRS), reports CFO.com. Moreover, a large majority of accounting leaders from around the [...]
The credit crisis has triggered a broad and growing emphasis on risk. In fact, a recent study conducted by KPMG’s Audit Committee Institute (ACI) and the National Association of Corporate Directors shows that risk management is now the biggest concern for audit committees. Moreover, although most audit committee members at public companies say their audit [...]
Bankruptcy filings in the U.S. were up 33% in June compared to a year ago thanks to the slowing economy and turmoil in the housing market, according to RiskCenter. Moreover, they are currently on track to surpass one million in a year for the first time since bankruptcy laws were tightened in October 2005. Companies [...]
The slowing economy has pushed more companies to become rigorous in protecting their ideas and find ways to expand and generate income. As a result, a growing number of corporations are focusing on the strength of their patent portfolio. According to PricewaterhouseCoopers (PwC), just 30 years ago most company valuation was determined by capital assets, [...]
Salaries are climbing along with demand for accounting talent. Despite fears of a recession and layoffs, accountant salaries have jumped to their highest levels ever. That’s according to a recent survey conducted by the Institute of Management Accountants (IMA). The IMA’s 2007 Salary Survey, which polled roughly 1,600 internal auditors, treasurers, forecasters and planners at [...]
Wind has emerged as the fastest growing source of renewable energy around the world. Globally, rapid growth is predicted in the wind market and the United States is one of three nation’s leading future growth in the industry, reports Reuters. In fact, the Department of Energy projects that wind power is capable of becoming a [...]
Recent stress in the financial markets has prompted the Fed to move to improve its ability to oversee the stability of the financial system. Fed Chairman, Ben Bernanke, and SEC Chairman, Christopher Cox, recently signed a memorandum of understanding (MOU) between the two agencies that will deepen their information sharing and cooperation as well as [...]
The U.S. Securities and Exchange Commission has proposed that companies publicly traded in the U.S. adopt a specific new technology, known as eXtensible Business Reporting Language or XBRL, for financial disclosure. The mandate issued by the SEC outlined a graduated process for adoption of XBRL, although Fortune 500 companies would be required to adopt as [...]
While the U.S. economy is slowing, business is booming in the Middle East. Abu Dhabi, in particular, is experiencing a surge in mega-projects in real estate and infrastructure. Meanwhile, Qatar has both the highest GDP per capita in the world and one of the highest rates of economic growth, according to UBS. As a result, [...]
Institutional investors around the world are increasingly turning to non-traditional investments. The Louisiana State Employees Retirement System recently committed $160 million to alternatives, reports Money Management Letter. Japan’s public pension fund, the world’s largest, is also sizing up alternative investments, according to Reuters. Moreover, a recent survey of investment practices at public pension plans has [...]
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