GAA Accounting

The Journal of the Global Accounting Alliance


by GAA Accounting
Comments Off on Communication strategies for a new world

Communication strategies for a new world

Ita Gibney explains how individuals and organisations can win their case in the court of public opinion.

For chief executives, chairmen and boards of directors, developing and assessing strategic communications functions and plans is akin to forging a path through a newly overgrown jungle. If you work for a company like Samsung, Volkswagen, Wells Fargo, Deutsche Bank or Apple and find yourself in the eye of a global storm, your ability to communicate quickly, assuredly, consistently and constantly across a global team of spokespeople is central to your organisation’s very survival. Continue Reading →


by GAA Accounting
Comments Off on EU audit reform

EU audit reform

Noreen O’Halloran considers what the European Union’s Audit Reform project means for audit committees and statutory auditors alike.

The European Union’s (EU) Audit Reform aims to improve the quality of statutory audits and re-establish shareholder confidence and public trust in the statutory audit process. It imposes a number of requirements on the statutory auditor of public interest entities (PIEs) in the EU in respect of several areas such as independence, execution of audits and organisation of statutory audit firms. It also imposes requirements on PIE audit committees to monitor and manage the statutory audit process. Significant enhancements in audit quality are expected to result from these new requirements, but they do not come without imposing additional burden and cost on both PIEs and their statutory auditors. Continue Reading →


by GAA Accounting
Comments Off on Getting to grips with customs duties

Getting to grips with customs duties

Eoin O’Shea outlines the key issues businesses must now consider if they are to capitalise on a hard Brexit, if and when it arises.

On 13 October 2016, the President of the European Council, Donald Tusk, spoke on the issue of Brexit and had the following to say: “In my opinion, the only real alternative to a hard Brexit is no Brexit, even if today hardly anyone believes in such a possibility.”

The phrase “hard Brexit” has, at least among political and media commentators, come to mean the United Kingdom (UK) not being part of the European Union (EU) single market or customs union from Brexit day onwards (2019 at the earliest, if negotiations begin in 2017 and continue for two years). If that will be the case, and several years of negotiations have yet to pass before we will know, one practical consequence will be the re-emergence of a customs duty regime between the Republic of Ireland and the UK. Continue Reading →


by GAA Accounting
Comments Off on But everyone’s doing it

But everyone’s doing it

By Karen Wensley

How can we prevent people from interpreting “aspirational” goals as an invitation (or a directive) to cheat?

One of the most common rationalizations for bad behaviour is the “standard practice” argument — everyone is doing it. It’s what my mother warned me against: “If all your friends were jumping off a cliff, would you do that too?” Continue Reading →

Clinton v Trump

by GAA Accounting
Comments Off on Partners in adversity

Partners in adversity

By Adam Creighton

Opposition to the Trans-Pacific Partnership is one of the few things that unite US presidential candidates Donald Trump and Hillary Clinton. But campaign politics don’t necessarily translate into actions in office.

“I oppose it now, I’ll opposite after the election, and I’ll oppose it as President,” Hillary Clinton said in a speech in early August, seemingly snuffing out almost ten years of negotiation. If the US fails to ratify the Trans- Pacific Partnership (TPP) it would be its first rejection of a trade deal since President Woodrow Wilson made the pursuit of free trade one of his “14 points” principles for world peace almost 100 years ago. Continue Reading →


by GAA Accounting
Comments Off on Brexit: 100 days on…

Brexit: 100 days on…

Business leaders should start to consider risks and disruptive effects on a ‘hope for the best, plan for the worst’ basis, writes Cormac Hughes.

It is 100 days since the shock 23 June vote for Brexit. What is clear is that the UK will not commence formal exit negotiations (by triggering Article 50) until 2017. Internal European Union (EU) politics require a tough negotiation with no sweetheart deal, and the vote has created such practical complexities that many believe it will take far longer than two years to complete the disentanglement. Continue Reading →