GAA Accounting

The Journal of the Global Accounting Alliance

13/08/2015
by GAA Accounting
Comments Off on Ethics: a new path of duty

Ethics: a new path of duty

The International Ethics Standards Board for Accountants (IESBA) has embarked on a major revamp of the Code of Ethics for Professional Accountants.

After 35 years and adoption or use in more than 100 jurisdictions, IESBA’s Code of Ethics for Professional Accountants is entering a new phase in its evolution, one that could have far-reaching implications.

The proposed changes aim to shake up the code and, as a result, enhance its clarity, usability, and enforceability according to Stavros Thomadakis, Chairman of IESBA.

“The first edition of the code was issued in 1980, long before laptops, email and cell phones,” he said. “It’s not only technology, but also the environments in which accountants operate that have evolved at great speed. The types of work, and how accountants perform their professional activities, have changed dramatically since then and the code has had to evolve to remain relevant and robust.” Continue Reading →

13/08/2015
by GAA Accounting
Comments Off on Still made in China

Still made in China

by George W. Russell

The Chinese government has unveiled an ambitious plan to upgrade the country’s manufacturing sector to industrialized-nation standards and see off competition from other Asia-Pacific locations. George W. Russell reports on how CPAs can help keep a lid on expenditures and boost efficiency.

Despite their reputation in some quarters for being repressive sweatshops, many Chinese factories compare favourably with those in industrialized nations: some boast well-equipped dormitories, with gymnasiums, multiple food outlets, karaoke rooms, and even – in the case of a very few such as Apple contractor Foxconn – employee-run radio and television stations. Continue Reading →

13/08/2015
by GAA Accounting
Comments Off on Five economics truths

Five economics truths

by David Descôteaux

From irrational markets to imbalanced budgets, some economic realities just never change.

After a decade or so of following current events and writing about the economy, I am convinced that some things will never change. Here are a few observations that may help provide insight into economic news. Continue Reading →

13/08/2015
by GAA Accounting
Comments Off on The advancement of women in accounting

The advancement of women in accounting

by Monique Verduyn

It’s been 21 years since the birth of our democracy. As we mark National Women’s Day in August, how much cause do we have to celebrate the advancement of women in accounting?

In 2014 the South African Institute of Chartered Accountants (SAICA) was recognised by the World Bank for its efforts to transform the profession through its Thuthuka bursary programme, as well as for upholding high standards in accounting and financial reporting in South Africa. Continue Reading →

13/08/2015
by GAA Accounting
Comments Off on Are there job prospects for artificial intelligence?

Are there job prospects for artificial intelligence?

by Jennifer Black

Just how soon could your job be carried out by a robot?

Take a moment to consider your job. What do you do, in your role, that only a human can do? Chances are that list is diminishing. And ten years from now, what job will you be doing? How are you future proofing yourself – or guiding your children – and making choices for the work world that will be, not the work world that exists now? Continue Reading →

13/08/2015
by GAA Accounting
Comments Off on How to get the most out of fraud investigation interviews

How to get the most out of fraud investigation interviews

By Charles L. McGimsey and Dan Whelan

Is an interviewing strategy all talk? Not if you want to save time and money while conducting more effective investigations.

Imagine someone taking an automobile to a mechanic for a repair. The mechanic asks, “What’s the problem?” The customer replies, “I’d rather not say. Just take it apart, and tell me what you find.” Continue Reading →