December 15, Latest Viewpoint

Transcription

1 December 15, 2015 Latest Viewpoint Surprising Effects of Mandatory Auditor Rotation on Audit Quality by Kendall O. Bowlin, University of Mississippi; Jessen L. Hobson, University of Illinois at Urbana-Champaign; and M. David Piercey University of Massachusetts Amherst As new auditor rotation mandates are debated and adopted or rejected worldwide, a new research study takes a different approach to assessing the effects of these mandates on audit quality. WHAT'S IN THIS ISSUE Audit & Assurance Business Reporting Ethics Finance Leadership& Development Governance Islamic Finance Performance & Financial Management Practice Management Risk Management& Internal Control Sustainability Audit & Assurance 1. Discussion IFAC Engagement with IAASB and IESBA Representing the Interests of PAIBs & SMPs Providing input to the IAASB and the IESBA on behalf of the SMP and PAIB constituencies is considered vital to IFAC s contribution to the development of international audit, assurance, and ethics standards. AA1000SES 2015 Framework AccountAbility Clarified Auditing Standards: Forming an Opinion and Reporting on Financial Statements Part 3 Article Accounting Web CAQ, "Profession in Focus" Episode 12 Video Center for Audit Quality PCAOB Approves Rule for Naming Audit Engagement Partner

2 December 15, 2015 Journal of Accountancy Auditing Third Party Election Advertising for Federal Candidates December 15, 2015 CPA Canada CAQ and AAA Auditing Section Seek Proposals for Access to Audit Personnel Program December 15, 2015 Center for Audit Quality Comment: The Enhanced Auditor Report "Sea Change" Delivering Relevancy through Transparency December 11, 2015 The Accountant Our Profession: 165 Years Old More Relevant and Dynamic Than Ever December 11, 2015 LinkedIn Auditors Recognise Cyber Risk December 9, 2015 Economia Higher Audit Threshold Raises Threat of Fraud December 8, 2015 Economia Micro-Entity Rules: When Small Isn't Beautiful PwC Releases Audit Quality Report December 2, 2015 Accounting Today Malaysia's Audit Oversight Board Revokes Registration of Auditors for the First Time December 2, 2015 Mondo Visione FEE Shows Significant Differences in Developments on Measuring Audit Quality December 1, 2015 Fédération des Experts-comptables Européens Federation of European Accountants Risks to Watch during 2015 Audit Cycle December 1, 2015 Journal of Accountancy Professional Skepticism and Other 2015 Audit Focus Areas The New Global Economy Lowers Trade Barriers, but Not the Necessity of Compliance November 26, 2015 Compliance Experts Positive Investor Response to Auditor Reporting Proposals November 19, 2015 CPA Canada Business Reporting 1. Discussion The Role of the Auditor General in Creating Public Trust and Value Carol Bellringer, IFAC Board Member and Auditor General of British Columbia, Canada, provides an overview of the roles of the Auditor General and the importance of financial reporting for government. Implementation Guide for Companies Guidance Sustainability Accounting Standards Board 2015 IFRS for SMEs Book IFRS Foundation Prepare to Transit December 11, 2015 Association of Chartered Certified Accountants

3 International Accounting Regulators Not Doing Cartwheels over SEC s Idea December 11, 2015 Wall Street Journal Hans Hoogervorst Discusses IASB Developments December 10, 2015 IAS Plus Quality Financial Reporting Is a Growing Challenge December 10, 2015 Accounting Today SEC to Consider Letting US Companies Use Global Accounting Rules as Add-On December 10, 2015 Wall Street Journal Charles Noski to Chair US Financial Accounting Foundation December 9, 2015 Accounting Today IPSASB Strengthens Standard-Setting Process, New Consultative Advisory Group (CAG) Established, Inaugural CAG Chair Announced December 8, 2015 International Public Sector Accounting Standards Board IASB Publishes Updated List of IFRS Learning Resources December 4, 2015 IAS Plus Smaller Companies Getting Better Slowly at Disclosure December 4, 2015 Accountancy Live Mark Carney Appoints Michael Bloomberg as Climate Disclosure Task Force Chair December 4, 2015 Climate Disclosure Standards Board Five Steps to Effective Disclosures December 3, 2015 Accounting Web IFAC, ANAN Laud Reforms in Public Sector Financial Reporting December 2, 2015 The Guardian Why 'Integrated Reporting' Attracts Investors December 2, 2015 Forbes Micro-Entity Rules: When Small Isn't Beautiful SASB Offers Implementation Guide for Sustainability Standards MPERS Implemented 1st Jan 2016 December 1, 2015 Malaysian Institute of Accountants IFRS Foundation Publishes Taxonomy Update for IFRS for SMEs December 1, 2015 IFRS Foundation EU Endorsement of the IFRS 9 Standard on Financial Instruments Accounting December 1, 2015 Bruegel Shaping the Future of Sustainability November 30, 2015 Global Reporting Initiative India Leads in Corporate Responsibility Reporting Globally, Says KPMG Survey November 26, 2015 FirstPost Ethics 1. Discussion IFAC Engagement with IAASB and IESBA Representing the Interests of PAIBs & SMPs Providing input to the IAASB and the IESBA on behalf of the SMP and PAIB constituencies is considered

4 vital to IFAC s contribution to the development of international audit, assurance, and ethics standards. ICAS: The Power of One Website/Resource Center ICAS IMA Accepting Entries for Annual Carl Menconi Ethics Case Writing Competition December 15, 2015 Institute of Management Accountants The Business of Making a Better World December 14, 2015 Inquirer.net Former ICAS President to Lead New Ethics Drive December 10, 2015 Accountancy Age Higher Audit Threshold Raises Threat of Fraud December 8, 2015 Economia Whiter than White December 4, 2015 Association of Chartered Certified Accountants Buddha Makes the Business Case for Business Ethics December 3, 2015 Ethical Systems Malaysia's Audit Oversight Board Revokes Registration of Auditors for the First Time December 2, 2015 Mondo Visione How to Remain Professional Under Fire December 2, 2015 Accounting Web Supreme Court of Canada Case Raises Tax Ethics Issues December 2, 2015 CPA Canada VW Scandal: Ethics versus Profit FRC: The Way We Do Things Round Here November 30, 2015 The Great Business Debate Campaign Flags-Up Money Laundering November 30, 2015 Accounting Web SEC Whistleblowing Update Confirms Focus on Retaliation November 23, 2015 Corporate Counsel Finance Leadership& Development 1. Discussion Global Trends in the Profession Helen Brand, Chief Executive of the ACCA, discusses global trends and the resulting demand for financial professionals. CFOs Take Charge after a Deal Is Done Article Wall Street Journal How Do You Make Your MP Look Great? Be Future-Ready! Article Accounting Today Death by Digital: Good-Bye to Finance as You Know It Article CFO.com

5 Art of Accounting: Advice to Someone Starting Out in Accounting December 30, 2015 Accounting Today IAESB Reviews Consistency and Proposes Limited Drafting Changes to International Accounting Education Pronouncements December 11, 2015 International Accounting Education Standards Board Metric of the Month: How Finance People Spend Their Time December 9, 2015 CFO.com AICPA President Recognizes Change in Profession December 9, 2015 Accounting Web International Accounting Education Standards Board Releases Consultation Paper, Seeks Comments December 7, 2015 Accounting Today US CPA Exam: Reaching Agreement to Embrace Change December 7, 2015 AICPA Insights Economic Optimism Declines among US CPAs December 4, 2015 Journal of Accountancy Future Finance Leaders: We ll Shun Environmentally Challenged Firms December 3, 2015 CFO.com Attracting, Engaging and Inspiring Future CPAs December 2, 2015 AICPA Insights IAESB Consults on Global Accounting Education Needs, Seeks Feedback on Future Strategy and Priorities December 2, 2015 International Accounting Education Standards Board Reinventing the Way We Learn Accounting December 1, 2015 AICPA Insights Starting a Women s Initiative December 1, 2015 Journal of Accountancy The Next Big Source of CPAs Surveys Reveal That Regulatory and Compliance Burdens Are Top Concerns for Financial Executives November 30, 2015 Fei Daily Attracting, Engaging, and Inspiring Future CPAs November 30, 2015 AICPA Insights Governance 1. Resources View All G20/OECD Principles of Corporate Governance Report Organisation for Economic Co-operation and Development Governance and the Role of Boards Article Bank of England 2. News View All Reporting Alert on the Extractive Sector Transparency Measures Act December 14, 2015 CPA Canada Eighteen Safeguards to an Audit Committee's Investigation of Financial Reporting

6 December 3, 2015 Risk & Compliance Magazine Corporate Governance in the Age of Cyber Risks December 1, 2015 Wharton FRC: The Way We Do Things Round Here November 30, 2015 The Great Business Debate Islamic Finance 1. Resources View All Certified Islamic Professional Accountant - CIPA - Video Series Video Berkeley Middle East Turkey: Islamic Financing: Notion and Key Instruments Article Kasaroglu 2. News View All Saudi Housing Shortage Innovative Solutions through Public Private Partnerships and Islamic Finance December 14, 2015 CPI Financial IIFM Announces New Standards to Support the Development of Islamic Finance at 33rd BoD Meeting December 14, 2015 CPI Financial G20: Turkey Shows Progress in Developing Islamic Finance December 11, 2015 Anadolu Agency Islamic Finance Institute Goes Global to Fill a Skills Void in $2 Trillion Industry December 9, 2015 Bloomberg Business ICD, IILM Cooperate to Develop Islamic Finance December 9, 2015 Saudi Gazette Islamic Accounting Body Changes Mark Shift to Transparency, Diversity December 8, 2015 Reuters Islamic Finance Body AAOIFI to Revamp Standards, Expand Agenda December 7, 2015 Reuters Canada Poised to Become Regional Hub for Islamic Finance December 6, 2015 Albawaba 2nd International Conference on Islamic Finance December 3, 2015 Daily Mail Performance & Financial Management 1. Discussion ABC/M and the Public Sector: Uses, Pitfalls, and the Argument for Change In the fourth article of a four-part series based on the book, Activity-Based Cost Management in Government, author Gary Cokins explains the importance of knowing what to do with ABC/M data before the calculation effort is launched. What Is the Future for Offshoring? Report Chartered Accountants Australia and New Zealand CFOs Take Charge after a Deal Is Done Article Wall Street Journal

7 What Is the Future of Offshoring? Video Chartered Accountants Australia and New Zealand Death by Digital: Good-Bye to Finance as You Know It Article CFO.com A Manual for the Data-Driven Finance Chief Article CFO.com Rapid Rise of Peer-to-Peer Finance in China Hold Lessons for the World, Says ACCA Report December 10, 2015 Association of Chartered Certified Accountants Fit for Lending Small Business Financing Global Business Confidence Hits Four-Year Low, Says IMA/ACCA Report December 1, 2015 Institute of Management Accountants EU Associations Trio Strongly Involved with SMEs Forge Common CMU Position December 1, 2015 Fédération des Experts-comptables Européens Federation of European Accountants Practice Management 1. Discussion Go Forth and Diversify Versatility is the secret of success for many small- and medium-sized practices (SMPs), according to implications from a major international survey of SMPs business models new research from the ACCA. 2. Discussion Collaborate to Compete Collaboration comes in many forms and can lead to new opportunities for accountants and SMPs. 3. Resources View All Forces of Change Video Institute of Chartered Accountants in England and Wales What Is the Future of Offshoring? Video Chartered Accountants Australia and New Zealand How Do You Make Your MP Look Great? Be Future-Ready! Article Accounting Today Rocket-Powered Growth Article Accounting Today How to Admit New Partners: A Fresh Approach Article Journal of Accountancy Innovate Your Firm Video Accounting Today Use Small Mind Shifts to Move Your Firm Forward Article American Institute of CPAs Time to Start Planning Your Exit Article Accounting Today Whatever You Do, Help Your Clients Article Accounting Today 4. News View All How to Achieve Your Firm s Best Busy Season Ever December 11, 2015 Accounting Today

8 AICPA President Recognizes Change in Profession December 9, 2015 Accounting Web Cloud Services Are Driving Growth At Accounting Firms December 8, 2015 CPA Practice Advisor Business Owners Are the 'Ideal' Clients for Most Small Accounting Firms December 8, 2015 Forbes Three Trends That Will Transform Your Accounting Practice in 2016 December 3, 2015 CPA Practice Advisor UK: A Third of Small and Micro Businesses Say They Have Failed to Grow in Last Five Years December 3, 2015 Association of Accounting Technicians 2015 Digital CPA Conference to Be Held in Las Vegas Dec. 7-9 December 2, 2015 Accounting Today When Small Accounting Firms Team Up with Other Accounting Firms December 2, 2015 Forbes The Next Big Source of CPAs Firms Growing, Still Face Talent Challenges December 1, 2015 CPA Trendlines How the Future of Work Will Impact Accountants and Their Clients December 1, 2015 Accounting Web Good News, for a Change Santora CPA Group: A Tale of Firm Efficiency December 1, 2015 Accounting Web Get Pricing Confidence through the Cloud November 30, 2015 Accounting Web Fewer Accountancy Firms as Mergers Increase November 30, 2015 Economia A Simple Approach to Training November 13, 2015 CPA Practice Advisor Risk Management& Internal Control 1. Resources View All Chartech Cyber Security Report Institute of Chartered Accountants in England and Wales 2. News View All Hacking Is the Biggest Threat to British Business December 14, 2015 The Telegraph Auditors Recognise Cyber Risk December 9, 2015 Economia Eighteen Safeguards to an Audit Committee's Investigation of Financial Reporting December 3, 2015 Risk & Compliance Magazine Technology Risk Management

9 December 3, 2015 Risk & Compliance Magazine VW Scandal: Ethics versus Profit Corporate Governance in the Age of Cyber Risks December 1, 2015 Wharton Cyber Resilience A Governance Challenge November 27, 2015 Forbes Sustainability 1. Discussion Sustainability on Our Minds The Editor s Review Series No. 2 A brief review of some of the key Gateway articles covering the roles accountants play in creating sustainable organizations. Case Study Details Canadian Insurer s Climate Change Strategy Case Study CPA Canada Implementation Guide for Companies Guidance Sustainability Accounting Standards Board Five Things You Need to Know about the Paris Climate Deal December 14, 2015 The Conversation BIAC Welcomes COP21 Outcomes and Calls for Dynamic Role for the OECD December 14, 2015 BIAC COP21 Deal Is an Opportunity for Business to Thrive December 14, 2015 Climate Disclosure Standards Board How Accounting Can Help Build a Sustainable Economy December 14, 2015 Harvard Business Review Energy Transitions, Renewables and Rational Energy Use: A Reality Check December 11, 2015 OECD Observer The Six Key Road Blocks at the UN Climate Talks in Paris December 10, 2015 The Guardian Backstage at COP21 Why Business Support for a Climate Deal Is on the Up December 10, 2015 The Conversation Mark Carney Appoints Michael Bloomberg as Climate Disclosure Task Force Chair December 4, 2015 Climate Disclosure Standards Board Innovative Finance Has a Major Role to Play in Tackling Climate Change December 4, 2015 The Guardian Are Rich Countries Selling the Developing World Short on Climate Change? December 4, 2015 The Guardian Future Finance Leaders: We ll Shun Environmentally Challenged Firms December 3, 2015 CFO.com Helping Improve Resilience to Climate Change December 3, 2015 Economia Why Post-2015 Climate Action Must Bridge Business, Government

10 December 2, 2015 GreenBiz Sustainable Businesses: For the Greener Good 4 Corporate Carbon Pricing Do s and Don ts December 1, 2015 World Resources Institute COP21: France to Spend Billions on African Renewable Energy Projects December 1, 2015 The Guardian SASB Offers Implementation Guide for Sustainability Standards Why Corporate Sustainability Won t Solve Climate Change December 1, 2015 The Conversation Climate Talks: Standing Together on the Right Side of History December 1, 2015 World Bank Goals of the Paris Climate Conference December 1, 2015 Washington Post Remarks by World Bank Group President Jim Yong Kim at the Launch of the Carbon Pricing Leadership Coalition November 30, 2015 World Bank Shaping the Future of Sustainability November 30, 2015 Global Reporting Initiative India Leads in Corporate Responsibility Reporting Globally, Says KPMG Survey November 26, 2015 FirstPost The Natural Capital Protocol and Beyond November 23, 2015 The Huffington Post Prepared by IFAC's Communications Department. Contactcommunications@ifac.org for further information. Copyright 2015 by the International Federation of Accountants (IFAC). All rights reserved. Written permission from IFAC is required to reproduce, store or transmit, or to make other similar uses of, this document. Contact permissions@ifac.org.