AEChile

Publicaciones del Autor

  • FASB votes to delay effective dates for 3 major standards

    October 16, 2019 Published: Journal of Accountancy Effective dates will be delayed for private companies and certain other entities for FASB’s standards on accounting for leases, credit losses (known as CECL), and hedging after a unanimous vote Wednesday by FASB. FASB directed its staff to draft an Accounting Standards Update (ASU) that will change the

  • SEC Educational Videos Aim to Help Investors Spot and Avoid Fraud

    October 11, 2019 Published: The SEC The SEC’s Office of Investor Education and Advocacy and Retail Strategy Task Force this week released new videos and Investor Alerts to help show investors what fraud looks like. Fraudsters will use every gimmick they can think of to get their hands on investors’ hard-earned money. These videos, along with our

  • Corporate Boards May Be Blind to Risks

    October 15, 2019 Published: The Institute of Internal Auditors (IIA) Unique Survey Finds Critical Gap Between What Boards Think Is Going On and What’s Really Happening Boards are significantly overconfident when it comes to addressing the thorniest issues facing organizations today. Board members have greater confidence in their organizations’ ability to manage key risks than members of

  • IFAC sees greater adoption of global accounting standards

    October 14, 2019 Published: Accounting Today The International Federation of Accountants issued a report Monday indicating strong support for international accounting and auditing standards, particularly in areas where IFAC member organizations are involved in the process from beginning to end. The report includes data from more than 170 professional accountancy organizations that make up IFAC’s

  • FRC reviews of disclosures relating to reporting requirements

    October 10, 2019 Published: FRC Companies have responded positively to newly introduced reporting requirements for Revenue Recognition and Financial Instruments but there is still considerable scope for them to improve the quality of their annual report disclosures. The findings relate to three thematic reviews conducted by the Financial Reporting Council (FRC) to analyse companies’ disclosures for the

  • International Standards: 2019 Global Status Report

    International Standards: 2019 Global Status Report

    Adoption is one journey, implementation another October 14, 2019 Published: IFAC There are no international laws requiring nations adopt and implement international standards that are fundamental to trust in markets, investments and economic growth. They are adopted because of their quality, legitimacy and impact have been demonstrated and focus on the public interest. They are

  • OECD leading multilateral efforts to address tax challenges from digitalisation of the economy

    October 9, 2019 Published: OECD The OECD Secretariat published a proposal to advance international negotiations to ensure large and highly profitable Multinational Enterprises, including digital companies, pay tax wherever they have significant consumer-facing activities and generate their profits. The new OECD proposal brings together common elements of three competing proposals from member countries, and is based on

  • To rebuild trust in auditors, we need the courage to speak up

    October 7, 2019 Published: Accountancy Europe Marie-Pauline Lauret, Global Head of Internal Audit of a large Dutch listed company, tells us about how auditors can help rebuild trust in the profession by speaking up and looking beyond the scope of their role. Auditors can change culture! Auditors have the power to change corporate culture from

  • What RPA is and how it works

    October 1, 2019 Published: Journal of Accountancy Robotic process automation is like an Excel macro that can work on multiple applications, says Danielle Supkis Cheek, CPA, director of entrepreneurial advisory services at PKF Texas. RPA can complete routine, repetitive tasks such as data entry, freeing up employee time from lower-level chores. https://www.journalofaccountancy.com/videos/what-is-robotic-process-automation.html

  • Key audit matters in European Banking sector – update 2019

    Auditors identifying risks October 7, 2019 Published: Accountancy Europe Key audit matters (KAMs) are the most significant risks in the audit of financial statements. They have the biggest impact on overall strategy and the allocation of resources in an audit. KAMs are communicated by the auditor in their report. Reporting on KAMs opens the way

  • Cybersecurity, Resiliency, and the Role of Financial Regulators

    Cybersecurity, Resiliency, and the Role of Financial Regulators

    DATE:           Oct. 3, 2019 SPEAKER:   Kathleen M. Hamm, Board Member EVENT:         Program on International Financial Systems Technology and Capital Market Regulation Conference LOCATION: Tokyo, Japan I. Introduction Good morning. Thank you to Harvard Law School’s Program on International Financial Systems for inviting me to speak at this symposium on “Technology and Capital

  • 21% of JSE-Listed Companies have changed their auditors ahead of MAFR deadline

    October 8, 2019 Published: The Accountant With less than four years remaining until the effective date of Mandatory Audit Firm Rotation (MAFR) (1 April 2023) in South Africa, roughly 21% of the JSE Ltd main board listed companies have voluntarily rotated auditors since the Independent Regulatory Board for Auditors (IRBA) started tracking audit firm rotations

  • Critical audit matters: What firms are reporting

    October 4, 2019 Published: Journal of Accountancy By: Maria L. Murphy, CPA Some important themes are emerging in auditors’ reporting of critical audit matters, which are the key component of the biggest change to public company auditor reporting in 70 years. Goodwill and intangible assets, revenue, and income taxes were the most frequent topical areas reported

  • IOSCO publishes updates to peer reviews of regulation of MMFs and securitization

    October 2, 2019 Published: IOSCO The Board of the International Organization of Securities Commissions (IOSCO) today published two update reports entitled Update to the IOSCO Peer Review of Regulation of Money Market Funds and Update to the IOSCO Peer Review of Implementation of Incentive Alignment Recommendations for Securitisation. These reports summarize IOSCO’s ongoing efforts to monitor implementation of

  • Profession in Focus: Communicating the Commitment to Audit Quality

    October 1, 2019 Published: The Caq This edition of Profession in Focus features Christopher Tower, National Assurance Managing Partner for Audit Quality and Professional Practice at BDO USA LLP. Tower provides an overview of the many ways that BDO communicates the firm’s strong commitment to audit quality, both externally and internally. He also provides insights

  • Research supports the FRC taking firmer action on regulation

    October 2, 2019 Published: The Accountant The UK’s Financial Reporting Council (FRC) citizens’ juries believe the FRC should take firmer action to hold companies to account, says new research. The citizens’ juries allowed participants to be presented with, and have time to discuss topics including corporate reporting, corporate governance, audit and the FRC’s work in

  • New TQAs discuss 2019 Compliance Supplement’s guidance for performing single audits

    September 24, 2019 Published: Journal of Accountancy By: Ken Tysiac New Technical Questions and Answers (TQAs) posted Tuesday by the AICPA provide nonauthoritative guidance related to single audits. The Office of Management and Budget’s 2019 Compliance Supplement contains new guidance for single audits, which are compliance audits performed under the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for

  • Alliance of accounting organisations finds multidisciplinary firm structure benefits audit quality

    September 27, 2019 Published: The Accountant A global alliance of accounting organisations has found firms that offer both audit and non-audit services are best positioned to deliver robust and reliable assurance. A report published by Chartered Accountants Australia and New Zealand (CA ANZ), the Association of Chartered Certified Accountants (ACCA) and the International Federation of

  • OECD: Use of Digital Technologies set to increase Tax compliance

    September 24, 2019 Published: The Accountant The recently published eighth edition of the OECD’s Tax Administration Series reveals how tax administrations are increasingly moving to e-administration and using a range of technology tools, data sources and analytics to increase tax compliance. According to the report, an increase in e-administration are creating more options for online filing of

  • Profession in Focus: The Strong State of Investor Confidence in 2019

    September 18, 2019 Published: The Caq On this edition of Profession in Focus, get insights from CAQ Executive Director Julie Bell Lindsay on the state of US investor confidence. Lindsay provides context on the importance of strong investor confidence for the capital markets, gives an overview of the CAQ’s annual Main Street Investor Survey, and

  • Voices: Operating vs. finance leases: The impact of the new standard

    September 24, 2019 Published: AccountingToday By: Kevin Rhode The clock is ticking on the countdown to the implementation of the new lease accounting standard for private companies. According to reports from the Securities and Exchange Commission and the U.S. Chamber of Commerce, U.S. companies currently have an estimated $2.8 trillion in operating lease obligations that are

  • Climate Action in a Climate Emergency

    September 19, 2019 Published: IFAC By: Kevin Dancey, Chief Executive Officer, IFAC Climate change is serious. The threat is immediate. There is no long-term planning horizon. It is one of those big, scary, multi-faceted societal problems that will require serious, coordinated vision and leadership to solve. This is not a problem we can wish away

  • 2019 Main Street Investor Survey

    2019 Main Street Investor Survey

    September 18, 2019 Published: The Caq The CAQ’s Main Street Investor Survey annually measures retail investor confidence in US capital markets, global capital markets, public companies, and audited financial information. In 2019, key findings from the survey include the following: ·         74% of US investors express confidence in US capital markets. ·         76% of US investors have confidence

  • Taxes on polluting fuels are too low to encourage a shift to low-carbon alternatives

    September 20, 2019 Published: OECD Taxing polluting sources of energy is an effective way to curb emissions that harm the planet and human health, and the income generated can be used to ease the low-carbon transition for vulnerable households. Yet 70% of energy-related CO2 emissions from advanced and emerging economies are entirely untaxed, offering little incentive

  • The IIA Releases New Practice Guide on Demonstrating the Core Principles for the Professional Practice of Internal Auditing

    September 19, 2019 Published: The Institute of Internal Auditors The IIA’s Core Principles for the Professional Practice of Internal Auditing are part of the IPPF’s Mandatory Guidance. The principles validate the effectiveness, credibility, and value of the internal audit activity within an organization’s governance structure.   This new practice guide explains the concepts embodied in the

  • Integrated thinking is a game changer for sustainable corporate governance

    September 12, 2019 Published: The International Integrated Reporting Council (IIRC) By: Olivier Boutellis-Taft, CEO, Accountancy Europe Since the industrial revolution, the market economy has propelled prosperity, well-being, life expectancy, cultural creativity and personal fulfilment. However, our economy is also aggravating natural resource depletion, deadly pollution, over-consumption and growing social concerns ranging from income inequality to climate migrations.

  • Cybersecurity Tops Business Risks, say Internal Auditors

    September 11, 2019 Published: International Accounting Bulletin A new survey has found the top three risks faced by businesses across Europe are: cybersecurity (78%), regulatory change (59%) and digitalisation (58%). The survey of 528 Chief Internal Auditors (125 from the UK and Ireland) is part of the Chartered IIA’s Risk in Focus 2020 report. The

  • Asamblea Anual 2019

    Asamblea Anual 2019

    Con fecha 5 de septiembre de 2019 se celebró Asamblea Anual de AEChile. Las materias tratadas, según lo dispuesto en los Estatutos de la Asociación, fueron las siguientes: A- Cuenta Anual del Presidente de la Asociación, resaltando los asuntos que deben ser abordados por el nuevo directorio;  B- El directorio aprobó los Estados Financieros al

  • Presentación “Chile Day 2019” – Joaquín Cortez

    Presentación “Chile Day 2019” – Joaquín Cortez

    10 de septiembre de 2019 Publicado por CMF Descargar presentación aquí

  • New video: the Joint Forum on Actuarial Regulation (JFAR)

    August 22, 2019 Published: Financial Reporting Council (FRC) What is the JFAR?Find out about what the Joint Forum on Actuarial Regulation (JFAR) do and more about its Risk Perspective updates through this short video. https://www.frc.org.uk/news/new-august-2019/new-video-the-joint-forum-on-actuarial-regulation

  • 5 Key Factors to Enhance Audit Committee Effectiveness

    September 9, 2019 Published: IFAC By:  Laura Leka , Technical Manager, Global Accountancy Profession Support, IFAC and Laurie Tugman, IFAC PAIB Committee Member Corporate failures and scandals across countries, including the recent collapses of Carillion, Patisserie Valerie and London Capital & Finance in the UK, failings in South Africa’s state-owned entities Transnet, Eskom, and South African Airways, and

  • More efforts needed to boost trust in business and finance

    September 9, 2019 Published: OECD Policy makers should step up their efforts to bolster public trust in finance to reduce the risks of contagion if economic growth and financial returns continue to fall, according to a new OECD report. The 2008 global financial crisis marked a turning point in the way governments considered the role

  • AICPA issues auditor practice aid on CECL standard

    September 9, 2019 Published: Accounting Today The American Institute of CPAs has released a practice aid to help auditors with the allowance for credit losses under the Financial Accounting Standards Board’s new standard for measuring credit losses on financial statements. The practice aid, Allowance for Credit Losses — Audit Considerations, focuses on loans measured at amortized

  • FASB proposes guidance to ease transition to new benchmark rates

    September 5, 2019 Published: Journal of Accountancy FASB is seeking feedback on a proposed Accounting Standards Update (ASU) designed to reduce the accounting costs and complexities related to the migration from interbank-offered interest rates to new reference rates. The proposed ASU, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting,would establish

  • FRC publishes annual report as the transition to a new regulator progresses

    September 6, 2019 Published: FRC The Financial Reporting Council (FRC) has today published its annual report for 2018/19 setting out its progress against commitments to tackle poor-quality audit work, boost Enforcement resourcing and improve the quality of reporting.      During the year the FRC substantially revised the UK’s Corporate Governance Code and consulted on an overhaul of the

  • Exposure Draft 69, Public Sector Financial Instruments, Amendments to IPSAS 41, Financial Instruments

    August 27, 2019 Published: IFAC Exposure Draft 69, Public Sector Financial Instruments, Amendments to IPSAS 41, Financial Instruments provides guidance on how to account for a number of important categories of financial instruments that are unique to the public sector. The proposed new Standard will augment existing guidance in IPSAS 41, Financial Instruments, and improves that Standard’s requirements by

  • IFAC launches ‘Future-Fit’ series to address changing role of accountants

    September 5, 2019 Published: The Accountant With a changing and uncertain business environment, Chief Financial Officers (CFOs) and finance functions must evolve to sit at the heart of decision making within their organisations, according to a series launched by IFAC (the International Federation of Accountants). The series includes: – A vision for the CFO and

  • The Role of the Global Accountancy Profession in Addressing 21st Century Public Sector Challenges

    September 3, 2019 Published: IFAC The public sector is facing a multitude of challenges globally, from budgetary pressures and revenue limitations to intense scrutiny of public finances, all at the same time as rapidly increasing demand for high-quality public services. Around the world, common issues have emerged with many countries facing: – Increasingly less citizens

  • IFIAR comments on IAASB Exposure Drafts for ISQM 1, ISQM 2 & ISA 220

    July 1, 2019 Published: IFIAR The International Forum of Independent Audit Regulators (IFIAR) appreciates the opportunity to comment on the International Auditing and Assurance Standards Board (IAASB) exposure drafts for ISQM 1 (Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements), ISQM 2 (Engagement Quality Reviews)

  • The IIA Releases New Practice Guide on the Foundations of Internal Auditing in Financial Services Firms

    August 26, 2019 Published: The Institute of Internal Auditors The demand for internal auditors with financial services knowledge and experience is growing rapidly, propelled by regulatory pressures to appropriately staff internal audit programs with the right volume and caliber of resources. This has led many internal audit activities within the highly regulated financial services industry

  • UK NAO launches public consultation on new Draft Code of Audit Practice

    August 30, 2019 Published: The Accountant The UK National Audit Office (NAO) has launched a public consultation on its proposed update of the Code of Audit Practice ahead of it coming into effect in April 2020. The Code sets out what local auditors of relevant local public bodies (such as councils, police, fire and NHS

  • Strengthened Going Concern Standard for UK Auditors

    September 30, 2019 Published: The Accountant The UK’s Financial Reporting Council has issued a revised going concern standard in response to recent enforcement cases. It is also in response to recent corporate failures where the auditor’s report has failed to highlight concerns about the prospects of entities which collapsed shortly after. The revised standard, ISA

  • Webcast on Critical Audit Matters

    April 1, 2019 Published: The Caq Auditors conducting audits in accordance with PCAOB auditing standards will soon be required to communicate critical audit matters in their auditor’s reports. The requirement will be applied first to audits of large accelerated filers with periods ending on or after June 30, 2019. In this CAQ webcast—recorded in April

  • AICPA proposes changes to auditor reporting standards

    August 28, 2019 Published: AccountingToday The American Institute of CPAs’ Auditing Standards Board has proposed amendments to three sets of auditing standards for special-purpose, single and summary financial statements. For the exposure draft of the proposed Statement on Auditing Standards Amendments to AU-C Sections 800, 805, and 810 to Incorporate Auditor Reporting Changes from SAS No. 134, the board

  • Presentación “Información comercial, nuevas tecnologías y supervisión”

    Presentación “Información comercial, nuevas tecnologías y supervisión”

    21 de agosto de 2019 Publicado por: CMF Congreso Nacional de Crédito y Cobranza Christian Larraín, Vicepresidente Consejo de la Comisión para el Mercado Financiero Descargar PDF aquí

  • IRS program to prevent personal data loss is delayed

    August 26, 2019 Published: AccountingToday Taxpayers’ personal information and tax account data remain at risk of being leaked from the Internal Revenue Service’s computer networks despite progress on a data loss prevention program, according to a new report. The IRS began a program known as the Safeguarding Personally Identifiable Information Data Extracts Project, which is

  • AICPA issues forensic accounting standards

    By Jeff DrewJuly 10, 2019 The AICPA on Wednesday issued new professional standards for members who perform forensic accounting services engagements. The Statement on Standards for Forensic Services No. 1 (SSFS 1) provides authoritative guidance for AICPA members providing litigation and investigative services. Specifically, the statement defines litigation and investigation for accounting purposes, outlines key considerations for

  • PCAOB issues staff guidance on auditing estimates, specialists

    August 22, 2019 Published: Journal of Accountancy The PCAOB released four staff guidance documents Thursday that are designed to help auditors implement the board’s new standards and amendments on auditing accounting estimates and the auditor’s use of the work of specialists. The new standards will take effect for audits of financial statements for fiscal years

  • ASB addresses challenges in auditing accounting estimates

    August 22, 2019 Published: Journal of Accountancy A proposal issued Thursday by the AICPA Auditing Standards Board (ASB) is intended to provide auditors with enhanced guidance on auditing accounting estimates. The proposal is intended to address the challenges that auditors face when auditing accounting estimates by providing risk assessment requirements and further audit procedures that: Are more

  • PCAOB Staff Provides Guidance for New Requirements on Auditing Estimates & Auditor’s Use of the Work of Specialists

    PCAOB Staff Provides Guidance for New Requirements on Auditing Estimates & Auditor’s Use of the Work of Specialists

    August 22, 2019 Published: PCAOB The Public Company Accounting Oversight Board today released four staff guidance documents to raise awareness and assist auditors in advance of the effective date of new estimates and specialists audit requirements. The requirements are effective for audits of financial statements for fiscal years ending on or after December 15, 2020. 

  • Investor Relations: Get up to speed now on Critical Audit Matters

    Investor Relations: Get up to speed now on Critical Audit Matters

    July 9, 2019 Published: The Caq Starting in the summer of 2019, auditors will be required to communicate critical audit matters (CAMs) in their auditor’s reports. Investors with questions about CAMs may turn to a company’s investor relations (IR) group for answers. To help inform IR professionals as they prepare for those conversations, the CAQ

  • Featured Video: FASB Distinguishing Liabilities from Equity

    August 2019 Published: FASB FASB Member Gary Buesser and Project Manager Aarika Friend look at the FASB’s proposal to improve guidance for certain financial instruments with characteristics of liabilities and equity, including convertible instruments. https://www.fasb.org/home

  • FASB proposes delay to Insurance Standards on long-duration contracts

    August 22, 2019 Published: The Accountant The Financial Accounting Standards Board (FASB) has issued a proposed Accounting Standards Update (ASU) that would grant all insurance companies that issue long-duration contracts, such as life insurance and annuities, additional time to apply a standard that addresses this area of financial reporting. On 15 August 2018, the FASB

  • New AICPA discussion paper tackles materiality

    August 21, 2019 Published: The Accountant A new discussion paper from the American Institute of CPAs (AICPA) discusses the challenges of determining materiality in an attestation engagement when subject matters cannot be quantitatively measured. Materiality Considerations for Attestation Engagements Involving Aspects of Subject Matters That Cannot Be Quantitatively Measured, developed by a Working Group of

  • How to effectively implement innovation

    August 19, 2019 Published: Journal of Accountancy Business Insider not too long ago published a list of some of the worst product launches in history. While it’s funny to recall that Coke once thought it was a good idea to abandon its classic formula, many of these stories are learning opportunities for today’s accounting firms planning their strategies

  • GASB issues lease accounting implementation guide

    August 15, 2019 Published: Journal of Accountancy GASB issued an implementation guide Thursday that contains questions and answers about the board’s new lease accounting standard for state and local governments. Implementation Guide No. 2019-3, Leases, provides guidance for preparers on how to apply the rules in GASB Statement No. 87, Leases, including: – Scope and applicability. –

  • IOSCO to launch 2019 World Investor Week to promote investor education

    August 14, 2019 Published: IOSCO The International Organization of Securities Commissions (IOSCO) is preparing to launch its third annual World Investor Week (WIW) from 30 September to 6 October 2019, after its successful organization in 2017 and 2018. WIW is a week-long, global campaign, which aims to promote investor education and investor protection, highlighting the

  • Non-Financial Reporting: «…it is about staying in business»

    August 14, 2019 Published: Accountancy Europe This interview was realised by Ivan Chaliy, Chief Editor of IFRS Practice Journal with Hilde Blomme, Accountancy Europe Deputy CEO.   Ivan Chaliy (IC): What do you think of the obliged regulation of forming a sustainability report? Hilde Blomme (HB):  Since 2018 large EU companies need to report such

  • Profession in Focus: Accelerated Filers, ICFR Audits, and Investor Protection

    August 1, 2019 Published: The Caq On this edition of Profession in Focus, get insights on regulatory developments and investor protection from Catherine Ide, CPA, Senior Managing Director of Professional Practice and Member Services at the CAQ. Ide explains the significance of companies’ filing statuses, particularly regarding requirements related to audits of internal control over

  • Auditors suffer when they issue negative opinions

    August 13, 2019 Published: International Accounting Bulletin Auditors get a bad reputation when they do their job properly according to new research. In a report being presented at the American Accounting Association’s annual meeting entitled Don’t Make Me Look Bad: How the Audit Market Penalizes Auditors for Doing Their Job, researchers found that flagging material weaknesses

  • Machine Learning: More Science Than Fiction

    August 12, 2019 Published: IFAC By: Narayanan Vaidyanathan, Head of Business Insights, ACCA Artificial intelligence (AI) is having an enormous impact on our consciousness. And machine learning (ML), which uses mathematical algorithms to crunch large data sets, is being increasingly explored for business applications in AI-led decision making. Following several years with the belief that AI

  • Eliminating biases that jeopardize audit quality

    August 1, 2019 Published: Journal of Accountancy By Billy E. Brewster, CPA, Ph.D.; Janet B. Butler, CPA (inactive)/CITP, CGMA, Ph.D.; and Ann L. Watkins, CPA, Ph.D. Certain cognitive biases pose threats to audit work, but it’s possible to recognize and overcome them. Auditing standards state that inquiry alone does not provide sufficient evidence regarding the

  • Companies find lease accounting more challenging than expected

    Both public and private companies are underestimating the challenges of transitioning to the new lease accounting standard, according to a new survey. The survey, by lease accounting technology company LeaseQuery, found that only 37 percent of companies in the early stages of implementation anticipate that their transition would be difficult. However, 67 percent of companies in

  • Global Accountancy Education: Preparing Future-Ready Accountants

    July 2, 2019 Published: IFAC To assist Professional Accountancy Organizations (PAOs) and other key stakeholders to prepare future-ready professional accountants, IFAC is establishing a comprehensive, integrated approach to respond to accountancy education challenges and opportunities posed by a rapidly changing environment. Accountancy education is a strategic priority for IFAC. Consequently, it is important that the

  • Voices Accounting in the fourth industrial revolution

    There seems to be much conversation recently around the notion that tax, bookkeeping and accounting jobs are going away over the next five to 10 years — eclipsed by the advancement of technology. Artificial intelligence, machine learning and blockchain are seen as emerging technologies that will lead to the automation and ultimate elimination of your

  • Better business decisions with assurance on non-financial information by Olivier Boutellis-Taft and Mario Abela

    People need to be able to rely on corporate information to make important decisions surrounding investing, buying products or signing employment contracts. Non-financial corporate information (NFI), such as environmental or social impacts, is essential to get the full picture of a company’s performance. Financial information alone cannot provide this anymore. Ultimately, integrating NFI leads to longer

  • Voices The human-technology balance that accounting needs

    Advances in technology are rewriting the rules for how business is done across all industries. In particular, the buzzwords of machine learning and artificial intelligence have sparked concern throughout the accounting profession. We’ve constantly seen predictions from multiple sources (like this study from McKinsey) that suggest as many as 800 million jobs will be lost worldwide

  • Voices GAAP vs. IFRS for property, plant and equipment

    In the area of fixed assets and the resultant depreciation there are some major differences between the GAAP rules codified in ASC Topic 360 and the IFRS rules in IAS 16. In GAAP there is only one way to initially record a fixed asset and that is the cost method. The cost method involves recording

  • IESBA proposes changes to code of ethics for accountants

    The International Ethics Standards Board for Accountants proposed some changes Wednesday to the International Code of Ethics for Professional Accountants to improve the mindset expected of accountants. The exposure draft, Proposed Revisions to Promote the Role and Mindset Expected of Professional Accountants, comes in response to calls from different stakeholders asking the Ethics Board to explore

  • Profession in Focus: Critical Audit Matters, Investors and Investor Relations

    July 15, 2019 Published: The CAQ On this edition of Profession in Focus, get insights on critical audit matters (CAMs), from Dennis McGowan, CPA, Technical Director of Professional Practice at the CAQ. McGowan provides an overview of the CAMs requirement, when it becomes effective, why investor relations professionals should anticipate CAMs questions, and what kinds

  • Voices The economic case for ESG disclosure

    Tim Mohin is chief executive of the Global Reporting Initiative (GRI), an independent international organization that helps businesses and other organizations understand and communicate their sustainability impacts. When it comes to corporate transparency, the United States is at a crossroads. To one side is maintaining the status quo, with a patchy reporting landscape for environmental,

  • AICPA weighs in with IRS on excise taxes for donor-advised funds

    The American Institute of CPAs sent a set of recommendations to the Internal Revenue Service on the application of excise taxes to donor-advised funds. DAFs have become an increasingly prevalent way for philanthropists to give funds to charities, as an alternative to private foundations. Donors can claim tax deductions the following year, but recommend specific

  • Better business decisions with assurance on non-financial information

    by Olivier Boutellis-Taft and Mario Abela People need to be able to rely on corporate information to make important decisions surrounding investing, buying products or signing employment contracts. Non-financial corporate information (NFI), such as environmental or social impacts, is essential to get the full picture of a company’s performance. Financial information alone cannot provide this

  • Protecting clients: Manufacturers are high-risk for data breaches

    Cybersecurity is top of mind today for accountants, the industry having faced several high-profile attacks this year. But accounting professionals also have to keep in mind the vulnerability of their clients, and different types of clients face different levels of risk. One of the most highly sought after prizes for malicious hackers, after money, is

  • Overview of Exposure Draft Amendments to IFRS 17

    July 4, 2019 Published: IFRS A recorded webinar is available providing an overview of the Exposure Draft Amendments to IFRS 17, published by the International Accounting Standards Board on 26 June 2019. The presenters are Laura Kennedy and Roberta Ravelli, Technical Staff at the IFRS Foundation. This recording took place to provide national standard-setters with an overview of

  • AICPA issues forensic accounting standards

    By Jeff DrewJuly 10, 2019 The AICPA on Wednesday issued new professional standards for members who perform forensic accounting services engagements. The Statement on Standards for Forensic Services No. 1 (SSFS 1) provides authoritative guidance for AICPA members providing litigation and investigative services. Specifically, the statement defines litigation and investigation for accounting purposes, outlines key considerations for

  • MAZARS welcomes consultation on CMA proposals

    July 19, 2019 Published: International Accounting Bulletin Marking the launch of the eight-week consultation period for the Competition & Markets Authority (CMA) proposals on statutory audit, Mazars says it supports the Department for Business, Energy & Industrial Strategy’s conclusion that the CMA had produced ‘a thorough and effective range of measures to create a genuinely

  • Closing the expectation gap in audit

    May 9, 2019 Published: ACCA Everyone closely connected to the audit profession, from regulators to the general public, will need to work together in order to close the expectation gap. Key messages: – The public sees audit as part of the solution for preventing company failure. – The public demands more responsibilities for auditors in

  • Statement on IOSCO Liquidity Management Recommendations for Investment Funds

    July 18, 2019 Published: IOSCO By: Ashley Alder, IOSCO Board Chair Liquidity problems which have recently affected some investment funds have been the subject of extensive media coverage. The Bank of England published a Financial Stability Report of the Financial Policy Committee (FPC), a committee of the Bank of England, earlier this month, which discusses

  • IASB proposes amendments to accounting for Deferred Tax

    July 17, 2019 Published: IFRS The International Accounting Standards Board (Board) has today published for public comment proposed changes to the IFRS Standard for income tax, IAS 12. The amendments clarify how companies account for deferred tax on leases and decommissioning obligations. IAS 12 specifies how a company accounts for income tax, including deferred tax,

  • Draft Code on Internal Audit aims to reduce risk of major UK Corporate collapses

    July 15, 2019 Published: International Accounting Bulletin A draft code to strengthen corporate governance and help reduce the risk of major corporate collapses in the UK by boosting the status, standards, scope and skills of internal audit has been launched by the Chartered Institute of Internal Auditors. The institute is now seeking feedback and is

  • FRC consults on enhanced Ethical and Auditing Standards

    July 15, 2019 Published: The Accountant The Financial Reporting Council (FRC) has issued a consultation proposing changes to the UK’s Ethical and Auditing Standards. The FRC proposes to set more stringent ethical rules for auditors, in response to findings from recent audit enforcement cases and from audit inspections. In response to feedback from investors, the

  • ASB addresses ERISA plan auditor reporting, other information in annual reports

    July 10, 2019 Published: Journal of Accountancy By Ken Tysiac In separate standards issued Wednesday, the AICPA Auditing Standards Board (ASB): – Changed requirements for auditor reporting and performance on ERISA (Employee Retirement Income Security Act) plan financial statements. – Amended rules for the purpose of improving transparency regarding auditors’ responsibilities related to other information

  • Borrowing costs and revenue recognition

    June 24, 2019 Published: IFRS The IFRS Interpretations Committee (Committee) recently published an agenda decision on ‘over time transfer of a constructed good’. The agenda decision responds to a question received about the application of IAS 23 Borrowing Costs to the construction of a multi-unit housing development. The agenda decision explains why the Committee concluded that, in the specific

  • PCAOB Posts CAM Resources for Investors and Audit Committees

    PCAOB Posts CAM Resources for Investors and Audit Committees

    July 11, 2019 Published: PCAOB Today the PCAOB released two new resources on critical audit matters (CAMs), one specifically for investors and the other for audit committees. These resources advance the Board’s strategic priority of cultivating effective communications with stakeholders, as well as providing timely, relevant, and useful information to them. The Board is committed

  • AICPA issues forensic accounting standards

    July 10, 2019 Published: Journal of Accountancy By Jeff Drew  The AICPA on Wednesday issued new professional standards for members who perform forensic accounting services engagements. The Statement on Standards for Forensic Services No. 1 (SSFS 1) provides authoritative guidance for AICPA members providing litigation and investigative services. Specifically, the statement defines litigation and investigation for accounting

  • No-Deal BREXIT Contingency measures in EU Budget

    July 9, 2019 Published: International Accounting Bulletin The European Council has adopted contingency measures on the implementation and financing of the 2019 EU budget in the event of a no-deal Brexit. The aim of the measures is to mitigate the impact of a no-deal scenario for funding in a wide range of areas such as

  • FASB seeks Stakeholders input on certain identifiable Intangible Assets and the subsequent accounting for Goodwill

    July 9, 2019 Published: FASB The Financial Accounting Standards Board (FASB) today issued an Invitation to Comment (ITC) seeking stakeholder input on the accounting for certain identifiable intangible assets acquired in a business combination and subsequent accounting for goodwill. Stakeholders are asked to comment on the ITC by October 7, 2019. Private companies and not-for-profit organizations currently have

  • FRC revises practice notes on Financial Sector Audits

    July 4, 2019 Published: The Accountant The Financial reporting Council (FRC) has issued a revision of Practice Note 19: The audit of banks and building societies in the United Kingdom. Such Practice Notes are aimed at helping practitioners to comply with the requirements of UK auditing standards, providing additional contextual material. The Practice Note has been

  • Auditing Accounting Estimates, Including Fair Value Measurements

    July 2, 2019 Published: PCAOB What was changed? The new standard replaces three existing standards by establishing a single standard that sets forth a uniform, risk-based approach. It emphasizes that auditors need to apply professional skepticism, including addressing potential management bias, when auditing accounting estimates. The new standard also provides more direction on addressing certain

  • Auditor´s Use of the Work of Specialists

    July 2, 2019 Published: PCAOB What was changed? Published: PCAOB The amendments adopted by the Board strengthen the requirements for evaluating the work of a company’s specialist, whether employed or engaged by the company. They are designed to increase audit attention in areas where a specialist is used and to align the applicable requirements with the

  • The PCAOB´s Chief Auditor Megan Zietsman Talks abaut CAM Resources

    June 28, 2019 Published: PCAOB Auditors will soon be required to communicate critical audit matters (CAMs) in the auditor’s report. The Board is committed to supporting effective implementation of CAMs through providing proactive, timely, and useful information to auditors and other interested parties.

  • Financial Regulators welcome UK Government´s Green Finance Strategy

    July 2, 2019 Published: International Accounting Bulletin The Financial Reporting Council (FRC) has issued a joint statement with other financial regulators, including the Prudential Regulation Authority (PRA), the Financial Conduct Authority (FCA) and the Pensions Regulator (TPR) in response to the UK government’s Green Finance Strategy. The statement notes that the boards of UK companies have

  • Financial / Non- Financial Reporting Frameworks share common principles

    July 2, 2019 Published: The Accountant The world’s leading financial and non-financial corporate reporting frameworks have the same common foundations, based on the key objectives of transparency and accountability, according to a position paper published by the framework providers. The position paper sets out the seven key principles report preparers should follow for achieving such

  • Get private companies ready for the new revenue standar

    June 27, 2019 Published: Journal of Accountancy Auditors of private companies are reviewing clients’ efforts to prepare for filing financial statements under the new revenue recognition standard in early 2020. In the five years since FASB adopted its landmark guidance in Accounting Standards Update No. 2014-09, Revenue From Contracts With Customers (Topic 606), companies large and

  • IASB consults on amendments to aid implementation of IFRS 17

    June 26, 2019 Published: IFRS The International Accounting Standards Board (Board) has today proposed amendments to the insurance contracts Standard, IFRS 17, for public consultation. The aim of the amendments is to continue supporting implementation by reducing the costs of implementing the Standard and making it easier for companies to explain their results when they

  • The Global Accountancy Profession’s Call to Action for G20 Leaders

    Jun 20, 2019 Published: IFAC Counting on Society 5.0 At a time of economic and political uncertainty, IFAC’s recommendations focus on actions that will strengthen the economy, ensure progress toward the Sustainable Development Goals, and create a fair and empowered digital economy. G20 countries play a crucial role in fostering institutions and governance models that can anticipate,

  • CPAs discuss hot topics in financial planning, tax, and technology

    June 24, 2019 Published: Journal of Accountancy Featuring Mike Landsberg, CPA/PFS; Sarah Lane, CPA/PFS; David Oransky, CPA/PFS; Brooke Salvini, CPA/PFS; and David Stolz, CPA/PFS The three estate planning documents everyone should have. https://www.journalofaccountancy.com/videos/pfp-tax-practice-management-2018-engage.html

  • Companies starting to use AI technology to fight fraud

    June 24 2019 Published: Accounting Today Companies are beginning to employ advanced technologies such as artificial intelligence and machine learning to uncover fraud, according to a new report. The report, from the Association of Certified Fraud Examiners and analytical technology provider SAS, found that 13 percent of organizations currently use AI or machine learning to

  • Better business decisions with assurance on non-financial information

    Junio 20, 2019 Published: Accountancy Europe by Olivier Boutellis-Taft and Mario Abela People need to be able to rely on corporate information to make important decisions surrounding investing, buying products or signing employment contracts. Non-financial corporate information (NFI), such as environmental or social impacts, is essential to get the full picture of a company’s performance.

  • Audit evidence standard would be updated under proposal

    June 20, 2019 Published: Journal of Accountancy Issues such as the use of emerging technologies and the application of professional skepticism are addressed in a new audit evidence standard proposed Thursday by the AICPA Auditing Standards Board (ASB). Proposed Statement on Auditing Standards (SAS), Audit Evidence, addresses the evolving nature of business and audit services as well as

  • European Commission publishes Climate-Related Guidelines

    June 20, 2019 Published: International Accounting Bulletin The European Commission has published new guidelines on corporate climate-related information reporting, as part of its Sustainable Finance Action Plan. The guidelines will provide companies with practical recommendations on how to better report the impact that their activities are having on the climate as well as the impact

  • I am the Future of Work

    June 2019 Published: OECD The OECD is launching the I am the Future of Work campaign. From students to CEOs, everyone is shaping the future of work and their voices should be at the heart of the debate. The campaign highlights what the future of work means for people and the urgency to build a future that

  • Convergence with international standards sought for SSARSs (Statements on Standards for Accounting and Review Services)

    June 19, 2019 Published: Journal of Accountancy In an effort to promote convergence with international standards, the AICPA Accounting and Review Services Committee (ARSC) on Wednesday proposed changes to standards for review services. ARSC believes that it is important for the Statements on Standards for Accounting and Review Services (SSARSs) to be as closely converged

  • Sustainable finance: Commission published guidelines to improve how firms report climate-related information and welcomes three new important reports on climate finance by leading experts

    Sustainable finance: Commission published guidelines to improve how firms report climate-related information and welcomes three new important reports on climate finance by leading experts

    June 17, 2019 Published: The European Commission The European Commission has today published new guidelines on corporate climate-related information reporting, as part of its Sustainable Finance Action Plan. These guidelines will provide companies with practical recommendations on how to better report the impact that their activities are having on the climate as well as the impact of

  • SEC Adopts Amendments to Improve the Application of the Auditor Independence Rules to Loan Provision

    June 18, 2019 Published: SEC The Securities and Exchange Commission adopted amendments to the auditor independence rules relating to the analysis that must be conducted to determine whether an auditor is independent when the auditor has a lending relationship with certain shareholders of an audit client.  The Commission has become aware of circumstances where the

  • GASB Issues Implementation Guide on Fiduciary Activities

    June 17, 2019 Published: GASB The Governmental Accounting Standards Board (GASB) has issued a new Implementation Guide that contains questions and answers about the GASB’s recently issued standards on accounting and financial reporting for fiduciary activities. Implementation Guide No. 2019-2, Fiduciary Activities, answers many questions about how to apply the provisions of GASB Statement No. 84, Fiduciary Activities.

  • IOSCO urges authorities to use existing standards to address cyber risk

    IOSCO urges authorities to use existing standards to address cyber risk

    June 18, 2019 Published: IOSCO The Board of the International Organization of Securities Commissions (IOSCO) today issued a final report that provides an overview of three internationally recognized cyber standards and frameworks used by IOSCO members. It also identifies potential gaps in the application of these standards and seeks to promote sound cyber practices across

  • IIA Sets Exposure Period For Proposed Updates to ‘Three Lines of Defense’

    June 17, 2019 Published: IIA The Institute of Internal Auditors (IIA) announced today that it is seeking public comment June 20–Sept. 19 on proposed updates to the Three Lines of Defense, a widely accepted and used model that addresses the many issues around organizational risk management and control. The Three Lines of Defense describes the

  • ASB proposes guidance on PPPs and APAs

    June 13, 2019 Published: Journal of Accountancy GASB proposed new guidance that it said is intended to improve accounting and financial reporting for public-private and public-public partnership arrangements (both referred to as PPPs) and availability payment arrangements (APAs). GASB said in a press release that the proposal would define a PPP as an arrangement in

  • Why should I care about accountants?

    May 2, 2019 Published: Accountancy Europe See what accountants do and how they can contribute to solving some of our major social and environmental challenges.

  • UK Government urged to introduce new audit regulator legislation before year-end

    June 12, 2019 Published: International Accounting Bulletin The Chartered Institute of Internal Auditors has urged the government to introduce legislation to establish a new audit regulator before the end of 2019 ‘under the swiftest possible parliamentary timetable’. The aim is to ensure the UK has a regulator that is best in class for corporate governance and help

  • Professional Ethics Executive Committee (PEEC) updates 2 ethics interpretations

    June 12, 2019 Published: Journal of Accountancy The AICPA Professional Ethics Executive Committee (PEEC) has issued revised ethics interpretations addressing state and local government client affiliates and provision of information system services to attest clients. If you audit reports on the financial statements of state or local governments, you must consider your independence responsibilities when

  • How to motivate and retain your talent

    June 10, 2019 Published: Journal of Accountancy By Dawn Wotapka  When it comes time to grow their business and bolster their reputation, accounting firms often turn to recruiters to attract dazzling — and, likely, expensive — new talent. Perhaps a better strategy is to develop existing employees, according to Philip Palaveev, the founder and CEO of

  • Emerging Market regulators issue recommendations related to sustainable finance

    June 5, 2019 Published: IOSCO Securities regulators from growth and emerging markets today published a report that sets forth recommendations related to the development of sustainable finance in emerging markets and the role of securities regulators in this area. IOSCO´s Growth and Emerging Market Committee (GEMC) today published the report Sustainable finance in emerging markets and

  • ASB seeks alignment of materiality definitions

    June 5, 2019 Published: Journal of Accountancy The AICPA Auditing Standards Board (ASB) is proposing changes to the definition of materiality in its standards for auditors and attestation engagements to eliminate inconsistencies with the definition used by other U.S. regulatory bodies. Currently, the ASB’s description of the concept of materiality is consistent with the definition

  • Cyber Security and the Accounting Profession

    Published: AICPA Sue Coffey, CPA, CGMA, Executive Vice President – Public Practice, AICPA  Amy Pawlicki, Directtor – Business Reporting, Assurance & Advisory Services – AICPA  Ir al video: https://www.aicpa.org/press.html

  • Changes in Use of Data and Technology in the Conduct of Audits

    June, 5, 2019 Published: PCAOB Advancements in technology are affecting the nature, timing, preparation, and use of financial information. Auditors are expanding their use of data analytics and emerging technology-based tools to plan and perform audits. Innovations in these technologies have the potential to improve the efficiency and effectiveness of both the audit and the

  • IOSCO examines regulatory-driven market fragmentation and considers how to enhance cross-border cooperation

    June 4, 2019 Published: IOSCO The Board of the International Organization of Securities Commissions today published a report that examines instances of regulatory-driven fragmentation in wholesale securities and derivatives markets and considers what actions regulators can take to minimize its adverse effects. The report, titled Market Fragmentation and Cross-border Regulation, focuses on market fragmentation that arises

  • European Banking Authority’s (EBA) Annual Report updates on IFRS 9 progress

    June 3, 2019 Published: The Accountant The European Banking Authority’s (EBA), the EU regulatory agency for banks, has published its latest annual report. Included in the report is an update on the implementation of International Financial Reporting Standard (IFRS) 9, which addresses the accounting of financial instruments. In December 2018, the annual report notes the

  • Auditor Communications with Audit Committees Concerning Independence

    May 31, 2019 Published: PCAOB PCAOB Rule 3526, Communication with Audit Committees Concerning Independence provides, among other things, that a registered public accounting firm must, at least annually with respect to each of its audit clients: (1) describe in writing to the audit committee all relationships between the audit firm and the audit client that, as of the

  • PCAOB Posts Staff Guidance on Communications with Audit Committees Concerning Independence

    PCAOB Posts Staff Guidance on Communications with Audit Committees Concerning Independence

    May 31, 2019 Published: PCAOB The PCAOB posted to its website today staff guidance on PCAOB Rule 3526, Communication with Audit Committees Concerning Independence.  The guidance provides background on Rule 3526 and technical guidance for auditors on the independence-related communications required by the rule.  The overview document below summarizes the staff guidance for audit committees, investors,

  • IASB proposes to update Conceptual Framework reference in IFRS 3

    May 30, 2019 Published: IFRS The International Accounting Standards Board (Board) has today published for public consultation proposed narrow-scope amendments to IFRS 3 Business Combinations. The amendments would update a reference to the Conceptual Framework for Financial Reporting without changing the accounting requirements for business combinations. IFRS 3 specifies how a company should account for the assets and liabilities it acquires

  • IOSCO requests feedback on key considerations for regulating crypto-asset trading platforms

    May 28, 2019 Published: IOSCO The Board of the International Organization of Securities Commissions is seeking comments on a consultation paper that describes the issues associated with crypto-asset trading platforms (CTPs) and sets forth key considerations to assist regulatory authorities in addressing these issues. The development of crypto-assets is an important area of interest for

  • Future Trends of Digital Transformation

    May 22-23, 2019 Published: OECD Government leaders and ministers are now meeting at the 2019 Ministerial Council Meeting, chaired by the Slovak Republic, to discuss policy challenges, how to harness the full potential of digitalisation and address its disruptive effects for the benefit of our economies, societies, the environment, and people’s lives. https://www.oecd.org/mcm/

  • Hong Kong´s FRC and Chin´s Ministry of Finance sign MoU on Cooperation of Audit Regulation

    May 28, 2019 Published: The Accountant Hong Kong’s Financial Reporting Council (FRC) and the Supervision and Evaluation Bureau (SEB) of China’s Ministry of Finance (MOF) have signed a memorandum of understanding (MoU) to promote cross-boundary cooperation. The MoU aims to enhance the quality and reliability of listed entities’ audits in order to protect the interests

  • The new trend in town? Corporate tax transparency

    May 27, 2019 Published: Accountancy Europe Our policy Manager on tax issues, Johan Barros has interviewed Lis Cunha, ActionAid’s EU Policy Officer on Tax Justice and Corporate Accountability. She speaks about the good work being done voluntarily by companies and what needs to happen at EU level for mandatory requirements on tax transparency. What do you see happening

  • GASB proposes Guidance on Cloud Computing and similar subscription-based IT Arrangements

    May 21, 2019 Published: GASB The Governmental Accounting Standards Board (GASB) has proposed new guidance on the accounting and financial reporting for subscription-based information technology arrangements (SBITAs), which have become increasingly prevalent among state and local governments over the past several years. The Exposure Draft, Subscription-Based Information Technology Arrangements, effectively would apply many of the provisions of Statement No.

  • Dealing with Ethical Dilemmas with Confidence

    May 21, 2019 Published: IFAC By: Erica Steenwijk, Policy Advisor, Netherlands Institute of Chartered Accountants and Stathis Gould, Deputy Director, Professional Accountants in Business, IFAC Being a professional accountant requires much more than professional competence in technical matters. The actions or inactions of accountants, whether they are working in business, advisory or audit, influence decisions and

  • PCAOB Posts Staff Guidance: A Deeper Dive on the Communication of CAMs

    PCAOB Posts Staff Guidance: A Deeper Dive on the Communication of CAMs

    May 22, 2019 Published: PCAOB May 22, 2019 Published: PCAOB The PCAOB posted to its website a staff guidance document, A Deeper Dive on the Communication of CAMs, developed to support implementation of the new critical audit matter requirements. This document was informed by discussions with auditors regarding their experiences conducting dry runs of CAMs with

  • For some risks, ROI doesn’t measure up

    Published: Journal of Accountancy Investing in certain emerging technologies may never provide a quantified return on investment, but they are risks you can’t afford not to take, according to Ed Kless, senior director of partner development and strategy at Sage Accountant Solutions. https://www.journalofaccountancy.com/videos/roi-emerging-technologies.html

  • PCAOB Posts Staff Guidance: A Deeper Dive on the Communication of CAMs

    May 22, 2019 Published: PCAOB The PCAOB posted to its website a staff guidance document, A Deeper Dive on the Communication of CAMs, developed to support implementation of the new critical audit matter requirements. This document was informed by discussions with auditors regarding their experiences conducting dry runs of CAMs with their audit clients, the staff’s

  • Trends in Disclosing Non-Financial Information

    May 17, 2019 Published: IFAC by Antoni Gómez, Chairman of Auren & IFAC SMP Committee Member Is financial information the most relevant information to stakeholders? Certainty not always. Companies and other organizations disclose information to a wide range of stakeholders and, for many of them, non-financial information is of more interest than financial information. Transparency is

  • Los aspectos clave de un programa de ética empresarial

    Mayo 16, 2019 Publicado por: diario_responsable España A las organizaciones empresariales ya no se las valora y evalúa únicamente por sus resultados económico-financieros. Existen otros factores, como el respeto a la legalidad vigente (fraude y corrupción), la sostenibilidad (medio ambiente) y la existencia de una cultura ética sin acosos laborales, tráfico de influencias, disparidad de

  • Cybercrime Threatens Trust in Business – How Accountants Can Help

    May 16, 2019 Published: IFAC by Sylvia Tsen, Executive Director, Knowledge, Operations and Technology, IFAC and Stathis Gould, Deputy Director, Professional Accountants in Business, IFAC Cybercrime threatens trust and transparency in business and governments on a daily basis. As a customer, taxpayer, supplier or other stakeholder, we ask ourselves whether we can trust an organization

  • Insights for Audit Committees: Implementation of Critical Audit Matters

    May 8, 2019 Published: The Caq In this May 2019 episode of “Inside America’s Boardrooms,” get insights on critical audit matters (CAMs) from Catherine Ide, CAQ Managing Director of Professional Practice and Member Services. Ide outlines questions that audit committees should ask regarding the identification and communication of CAMs in the auditor’s report. https://www.thecaq.org/insights-for-audit-committees-implementation-of-critical-audit-matters/

  • 4 key steps for auditors in assessing technology risks

    May 16, 2019 Published: Journal of Accountancy Emerging technology has brought a seemingly endless set of new risks to the clients that engage CPAs to perform audits. Unauthorized personnel can wreak havoc, data can get lost or become inaccessible, and third-party providers can be unreliable. Meanwhile, avoiding all these risks by avoiding the latest technology

  • Emerging Technologies, Risk, and the Auditor’s Focus: a resource for auditors, audit committees, and management

    Emerging Technologies, Risk, and the Auditor’s Focus: a resource for auditors, audit committees, and management

    May 16, 2019 Published: The Caq Emerging Technologies, Risk, and the Auditor’s Focus explores financial reporting implications of the evolving use of technology such as artificial intelligence, the internet of things, and smart contracts. As the resource highlights, a solid understanding of the benefits and risks of these technologies is necessary for auditors, audit committees, and

  • How a lease with an attest client affects independence

    May 14, 2019 Published: Journal of Accountancy By Catherine R. Allen, CPA  Suppose you audit a company that leases apartments and office space to individuals and companies. Should you be allowed to lease your apartment from your client? Should your firm be allowed to lease office space from the client? Recently, the AICPA revised its

  • GDPR one year on: its impact on auditors and accountants?

    May 13, 2019 Published: Accountancy Europe by Julia Bodnarova Keeping our personal information private is a concern for us all. It’s been one year since the EU’s General Data Protection Regulation (GDPR) required all organisations processing data to review and adapt their documents and procedures. What the GDPR means in practice has been the topic of

  • ACCA Study reveals 55% of public misunderstand audit

    May 10, 2019 Published: The Accountant A research study conducted by the Association of Chartered Certified Accountants (ACCA) has revealed that 55% of the public believe auditors could prevent company failures. In addition 34% of the respondents said they expected auditors to always detect and report any fraud and 70% believed audit should evolve to

  • Guide to help smaller listed companies improve financial reporting

    Guide to help smaller listed companies improve financial reporting

    13 May 2019 Published: Financial Reporting Council (FRC) A new guide to help smaller listed and AIM quoted companies improve their financial reporting has been published by the FRC and ICAEW. The guide addresses issues raised by the FRC about the quality of financial reporting in this sector, and provides practical tips and questions for

  • SEC addresses ICFR attestation for smaller companies  

    May 9, 2019 Published: Journal of Accountancy Fewer public companies would be required to obtain an attestation of their internal control over financial reporting (ICFR) from an independent outside auditor under amendments the SEC voted to propose Thursday. The amendments as proposed are designed to reduce costs for certain lower-revenue companies by changing the types

  • Guide to Internal Control over Financial Reporting

    Guide to Internal Control over Financial Reporting

    May 9, 2019 Published: The Caq Released in 2013 and updated in 2019, this guide provides the public with an easy-to-digest overview of internal control over financial reporting (ICFR), focusing on key ICFR concepts such as the control environment, control activities, reasonable assurance, and the hierarchy of ICFR deficiencies. The guide also educates on the

  • Credit losses standard tips for audit committees

    May 7, 2019 Published: Journal of Accountancy FASB’s new credit losses standard presents new challenges for company financial reporting teams, especially in financial services. The new standard requires a new current expected credit loss (CECL) model and is designed to enable financial reporting of credit losses that financial institutions are expecting. A new Center for Audit

  • Better word choice may help accountants ask deeper questions

    May 6, 2019 Published: Journal of Accountancy Accountants who hone the skill of careful questioning will better serve their clients’ needs, according to Ed Kless, senior director of partner development and strategy, Sage Accountant Solutions. https://www.journalofaccountancy.com/videos/word-choice-for-accountants.html

  • PCAOB Posts Staff Preview of 2018 Inspection Observations

    May 6, 2019 Published: PCAOB The PCAOB posted to its website the Staff Preview of 2018 Inspections Observations. This staff preview includes, for the first time, good practices regarding efforts to improve audit quality. It also addresses areas of common deficiencies, observations on technology, and implementation of new accounting and auditing standards and rules. The preview

  • SEC proposes changes to disclosures on acquisitions and disposals

    May 3, 2019 Published: Journal of Accountancy The SEC on Friday proposed rules changes designed to provide investors improved information about acquired and disposed businesses while reducing the cost and complexity to businesses preparing disclosures. Currently, Rule 3-05 of Regulation S-X requires SEC registrants that acquire a significant business other than a real estate operation

  • Preparing for the New Credit Losses Standard: A Tool for Audit Committees

    Preparing for the New Credit Losses Standard: A Tool for Audit Committees

    May 7, 2019 Published: The Caq Preparing for the New Credit Losses Standard: A Tool for Audit Committees is designed to help audit committees exercise their oversight responsibilities as companies implement a new credit losses accounting standard that begins to take effect in January 2020. The tool includes an overview of the new standard and offers

  • PCAOB Posts Staff Preview of 2018 Inspection Observations

    PCAOB Posts Staff Preview of 2018 Inspection Observations

    May 6, 2019 Published: PCAOB The PCAOB posted to its website the Staff Preview of 2018 Inspections Observations. This staff preview includes, for the first time, good practices regarding efforts to improve audit quality. It also addresses areas of common deficiencies, observations on technology, and implementation of new accounting and auditing standards and rules. The preview

  • Interest Rate Benchmarks Reform prompts potential changes to IFRS

    May 3, 2019 Published: The Accountant The International Accounting Standards Board (IASB) has proposed changes to financial instruments standards IAS 39 and IFRS 9 in response to the reform of interest rate benchmarks such as interbank offer rates (IBORs). The IASB has proposed to amend IFRS 9 Financial Instruments and IAS 39 Financial Instruments: Recognition

  • PCAOB board member wants auditors to be more vigilant about cybersecurity

    May 2, 2019 Published: AccountingToday The Public Company Accounting Oversight Board may begin asking auditors to vouch for cybersecurity controls at the companies they audit. PCAOB board member Kathleen Hamm called recently for more auditors to get involved in performing cybersecurity risk assessments after high-profile data breaches in recent years at all too many companies.

  • Signs of a bad workplace culture

    April 29, 2019 Published: Journal of Accountancy Wesley Middleton, CPA, managing partner (Houston) for Baker Tilly, explains how bad culture leads to employee turnover and dissatisfaction. Eventually profitability suffers, too.  Ver Video Aquí https://www.journalofaccountancy.com/videos/signs-of-bad-workplace-culture.html

  • SEC, PCAOB actions against accountants declined steeply in 2018

    May 01, 2019 Published: AccountingToday By: Danielle Lee The U.S. Securities and Exchange Commission and Public Company Accounting Oversight Board finalized 45 enforcement actions involving accountants in 2018, marking a significant decline from the 75 finalized actions involving accountants in 2017, according to a new Cornerstone Research report released Wednesday. According to the report, “Regulatory Actions

  • Study on EU statutory audit reform Impact on costs, concentration and competition

    Impact on costs, concentration and competition April 30, 2019 Published: Accountancy Europe On 24 April 2019, Professor Marleen Willekens presented to & discussed with the Board of Accountancy Europe as well as with the Chairs and members of working groups the findings of her team’s recent study on the early effects of the Audit Reform. The study

  • Improving Audit Quality Using an Individual Recognition and Accountability Framework

    April 29, 2019 Published: IFAC By: CPA Australia, Chartered Accountants ANZ About this guide This guide has been developed by CPA Australia on behalf of the Australian Auditing and Accounting Public Policy Committee (APPC), which comprises representatives of BDO, Deloitte, EY, Grant Thornton, KPMG, PwC, Chartered Accountants Australia and New Zealand (CA ANZ), CPA Australia

  • Improving Audit Quality Using an Individual Recognition and Accountability Framework

    Improving Audit Quality Using an Individual Recognition and Accountability Framework

    April 29, 2019 Published: IFAC By: CPA Australia, Chartered Accountants ANZ About this guide This guide has been developed by CPA Australia on behalf of the Australian Auditing and Accounting Public Policy Committee (APPC), which comprises representatives of BDO, Deloitte, EY, Grant Thornton, KPMG, PwC, Chartered Accountants Australia and New Zealand (CA ANZ), CPA Australia

  • FASB makes minor adjustments to financial instruments rules

    April 25, 2019 Published: Journal of Accountancy FASB issued clarifications and minor improvements Thursday to its recently issued accounting standards for credit losses, hedging, and recognition and measurement. The numerous amendments are included in Accounting Standards Update No. 2019-04, Codification Improvements to Topic 326, Financial Instruments — Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825,

  • Presentación de la Cuenta Pública 2018

    Presentación de la Cuenta Pública 2018

    Abril 23, 2019 Publicado por la SBIF Cuenta Pública de la Gestión 2018 de la SBIF, presentada por el Superintendente Mario Farren R. Descargar pdf (27 mb)

  • Evolution in Auditing

    April 9, 2019 Published: The Caq How will public company auditing evolve over the next five years? What will be the impact of artificial intelligence and other technology developments? In this April 2019 video from the CAQ, audit committee chairs at leading companies share their perspective.   Evolution in Auditing

  • Voices: 3 ways accountants can implement AI today

    April 24, 2019 Published: Accounting Today By: Hendrik Vordenbauenmen Artificial intelligence is poised to transform the finance and accounting industries with advancements that eliminate tedious tasks and free up time for financial staff to prioritize higher impact responsibilities. Yet a majority of businesses (80 percent) still haven’t employed AI in their workforce due to uncertainties around the

  • Lease Accounting: Getting ready for a new approach

    April 18, 2019 Published: The Accountant It is all go in the financial reporting world. With three key new IFRS standards taking effect in 2018/2019, companies need to get in shape to embrace the changes and provide stakeholders with the key information and explanations needed to understand the – sometimes huge – impact they will

  • China needs further reforms to make growth sustainable, greener and more inclusive

    April 16, 2019 Published: OECD The Chinese economy continues to slow as it rebalances, with headwinds including trade frictions and the weakening global economy undermining exports and creating new uncertainties. Policy should focus on long-term strategies to move the economy towards greater domestic consumption and services, enhancing economic efficiency and ensuring that future growth is

  • From Algorithms to Deep Learning, What You Need to Know About AI

    April 12, 2019 Published: IFAC By: Yasmine Hakimpour, CPA, CA, Principal, Audit & Assurance, Research, Guidance & Support Group, CPA Canada Artificial Intelligence (AI) is everywhere, and news articles and broadcasts, blog posts and podcasts constantly remind us how AI is “upgrading” just about everything. But what exactly is AI?  CPA Canada in collaboration with the American Institute

  • U.K. regulators recommend shake-up in audit market

    April 18, 2019 Published: AccountingToday The United Kingdom’s Competition and Markets Authority has released the final version of a long-awaited report on changes in the audit market, recommending separation of audit from consulting services, mandatory “joint audits” to enable firms outside the Big Four to develop the capacity needed to review the U.K.’s largest companies, and the

  • Yellow Book revisions update independence guidance

    April 17, 2019 Published: Journal of Accountancy By Catherine R. Allen, CPA, and Nancy Miller, CPA Auditors performing engagements under generally accepted government auditing standards (GAGAS) are subject to new rules reinforcing the principles of transparency and accountability under revisions published by the U.S. Government Accountability Office (GAO) in July 2018. The revised standards (also

  • Evaluating the External Auditor

    April 10, 2019 Published: The Caq In this April 2019 episode of “Inside America’s Boardrooms,” the CAQ’s Erin Dwyer provides an overview of the updated External Auditor Assessment Tool: A Reference for US Audit Committees. https://www.thecaq.org/evaluating-the-external-auditor/

  • Technology and the Profession–A Guide to ICAEW’s Work

    April 15, 2019 Published: IFAC By: David Lyford-Smith Since the 1990s, ICAEW has had an IT Faculty – a group of technology and accounting experts who are the “Voice of IT for ICAEW”.  The group helps produce guidance and thought leadership relating to the place of technology in the accountancy profession, researches the effects of

  • The GDPR’s transparency obligations are difficult but not impossible

    April 11, 2019 Published: ICAEW The EU GDPR is one the most significant changes in privacy in the past two decades, and companies need to fully understand its implications according to ICAEW. In its new guide, Data Protection and Transparency, ICAEW explains the transparency principle of the GDPR and gives essential guidance on how to comply

  • Ways to keep your talented CPAs

    April 8, 2019 Published: Journal of Accountancy By: Sarah Ovaska-Few Flexible scheduling can ward off burnout and help retain staff. Holding on to good people is a challenge, especially in the accounting profession, where the demand for skilled CPAs is high. To help with that, many firms have policies on the books allowing employees to

  • Los beneficios de NIIF 16 en el real estate

    Los beneficios de NIIF 16 en el real estate

    NICOLÁS HERRERA SOCIO FINANZAS CORPORATIVAS & TRANSACCIONES BDO El Diario Financiero Se discute mucho acerca de los efectos que traerá la norma IFRS 16 en los estados financieros de las empresas, en especial aquel punto que define que un contrato de arriendo será considerado un pasivo y no un gasto. Múltiples análisis iniciales de esta

  • How success relies on workplace culture

    April 8, 2019 Published: Journal of Accountancy In a profession with high turnover, a positive workplace culture can lead to good employee retention and ultimately a great client experience, says Wesley Middleton, CPA, managing partner (Houston) for Baker Tilly.  Ver video   https://www.journalofaccountancy.com/videos/success-relies-on-workplace-culture.html

  • Voices: A revolution for accounting firms who are ready for change

    April 10 2019 Published: AccountingToday   There is a revolution underway in major accounting firms, at least for the ones who take up the challenge to meet the shifts occurring beneath their feet. For decades, the profession has operated on a foundation of expanding billable hours for increasingly complex yet still largely compliance-focused work. And

  • Global Ethics Board Sets Out Top Priorities, Publishes Ambitious 5-Year Strategy & Work Plan

    April 9, 2019 Published: IFAC- IESBA The International Ethics Standards Board for Accountants (IESBA) today released its Strategy and Work Plan, 2019-2023. Titled Elevating Ethics in a Dynamic and Uncertain World, the publication describes the board’s strategy and priorities toward the setting of high-quality, future-ready ethics standards for professional accountants that are widely adopted around the world. Building

  • Artificial intelligence

    April 8, 2019 Published: European Commission Commission takes forward its work on ethics guidelines The Commission presented today next steps for building trust in artificial intelligence by taking forward the work of the High-Level Expert Group. Building on the work of the group of independent experts appointed in June 2018, the Commission launched a pilot phase to

  • New Tone at the Top Highlights Ways Board Members Can Help Deliver All Pertinent Risk Information to the Board

    April 5, 2019 Published: The Institute of Internal Auditors When management is prepared to provide whatever information is requested, board effectiveness will improve and shareholders will benefit in the long run. According to recent surveys, a majority of directors indicate that the quality of management reporting to the board needs to improve, suggesting that boards

  • Presentación “Convergencia a estándares internacionales: Oportunidades y desafíos en la implementación de IFRS 17 y 9 en Chile” – Daniel García

    Presentación “Convergencia a estándares internacionales: Oportunidades y desafíos en la implementación de IFRS 17 y 9 en Chile” – Daniel García

    3 de abril de 2019 Publicado: CMF Del seminario: XX Conferencia sobre Regulación y Supervisión de Seguros en América Latina IAIS-ASSAL, Santa Cruz, Bolivia (02/04/2019)   Descargar pdf – 807 kb.  

  • Lease accounting tips for public and private companies

    April 4, 2019 Published: Journal of Accountancy By Ken Tysiac Many public companies are not finished implementing FASB’s new lease accounting standard, and one-third of private companies say they are unprepared to comply with the new standard, according to a new survey. After filing earnings reports for the first quarter of 2019, 25% of public

  • How Digital Technology Is Transforming Cost Management

    March 29, 2019 Published: Wharton University of Pennsylvania  Wharton’s Christopher Ittner discusses how companies can leverage digital technologies for cost management in a proactive way.   http://knowledge.wharton.upenn.edu/article/cost-management-in-the-digital-age/?utm_source=kw_newsletter&utm_medium=email&utm_campaign=2019-04-02

  • CAQ updates auditor assessment tool

    April 3, 2019 Published: AccountingToday The Center for Audit Quality has released an updated version of its External Auditor Assessment Tool for audit committees to address recent changes in accounting standards and potential areas of risk. The document leverages the CAQ’s 2019 Audit Quality Disclosure Framework, and includes some new material about improving the audit committee members’

  • Position Paper Clarifies Internal Audit Roles In Fraud Prevention and Response

    April 3, 2019 Published: The Institute of Internal Auditors (IIA) By: Lake Mary The Institute of Internal Auditors (IIA) announced today the release of a new Position Paper, “Fraud and Internal Audit: Assurance Over Fraud Controls Fundamental to Success.” The new paper describes specific internal audit responsibilities regarding fraud prevention and detection. Internal auditors must have

  • Independent Regulatory Board for Auditors (IRBA): 17% of JSE- listed Companies rotate auditors in advance of MAFR

    April 1, 2019 Published: The Accountant Roughly 17% of Johannesburg Stock Exchange (JSE) main board listed companies have already voluntarily rotated auditors—four years early from the effective date of Mandatory Audit Firm Rotation (MAFR), according to the South African Independent Regulatory Board for Auditors (IRBA). The 64 companies that have rotated in the past two

  • External Auditor Assessment Tool: A Reference for US Audit Committees

    External Auditor Assessment Tool: A Reference for US Audit Committees

    April 2, 2019 Published: The Caq The External Auditor Assessment Tool is designed to assist audit committees in carrying out their responsibilities of appointing, overseeing, and determining compensation for the external auditor. The tool contains sample questions to help committees in four specific areas: – quality of services and sufficiency of resources provided by the engagement team;

  • Lease accounting: A private company perspective

    March 29, 2019 Published: Journal of Accountancy By Stephen G. Austin, CPA; Michael G. Fraunces, J.D.; and Alisia Scudder, CPA By now, most public companies in the United States have adopted the new lease accounting standards as required on Jan. 1, 2019. Companies with noncalendar fiscal year ends will adopt the new standards sometime over

  • Presentación “Regulación para Fintech: Una visión desde el regulador del mercado de valores” – Kevin Cowan

    Presentación “Regulación para Fintech: Una visión desde el regulador del mercado de valores” – Kevin Cowan

    26 de marzo de 2019

  • IOSCO publishes first annual work program to enhance the efficacy of its work

    March 5, 2019 Published: IOSCO The Board of the International Organization of Securities Commissions today published its first annual work program, to enhance the effectiveness of IOSCO and the impact of its policy work on global securities markets. The Board agreed on five priority issues for its work in 2019, based on the conclusions of the

  • Presentación “La CMF” – Joaquín Cortez (27 de marzo de 2019) Del seminario: CFA Society Chile

    Presentación “La CMF” – Joaquín Cortez (27 de marzo de 2019) Del seminario: CFA Society Chile

    Descargar Presentación   

  • Supervisor Bancario y Procedimientos Sancionatorios

    Supervisor Bancario y Procedimientos Sancionatorios

    Presentación “Supervisor Bancario y Procedimientos Sancionatorios” – José Antonio Gaspar 27 de marzo de 2019 Descargar Aquí   

  • Define, then hire your ideal employee

    March 25, 2019 Published: Journal of Accountancy Successful hiring includes defining your ideal employee and communicating why your firm is a great place to work, says Sarah Dobek, president and founder of Inovautus Consulting. https://www.journalofaccountancy.com/videos/define-an-ideal-employee.html

  • The benefits of a digitally fit risk function

    March 27, 2019 Published: Journal of Accountancy By Neil Amato Risk functions that are up to speed with organizations’ digital initiatives are better able to manage risks in a transformative time. If people ignore their body’s signals and regularly fail to get proper rest, nutrition, and activity, they can become sluggish, get sick — or

  • AICPA issues guidance on prior-period audits

    March 26, 2019 Published: Journal of Accountancy A newly revised AICPA Technical Question and Answer (TQA) provides nonauthoritative guidance for performing an audit and reporting on an entity’s prior-period financial statements. For such audits, TQA 8100.03 states that the auditor should use, in their entirety, the auditing standards and form of the auditor’s report that are in

  • Firms defend Quarterly Reporting despite Trump’s urging of the SEC to investigate benefits of Semi-Annual Reports

    March 26, 2019 Published: The Accountant A number of firms have defended the benefits of quarterly reporting, following a tweet by President Trump in August which called the US’ Securities and Exchange Commission (SEC) to investigate the benefits of moving from quarterly reporting to semi-annual reporting. Following the initial tweet by Trump, which claimed semi-annual

  • The importance of conducting an annual fraud checkup

    March 21, 2019 Published: Accounting Today By: Kelly J. Todd The Centers for Disease Control and Prevention recommend annual checkups for individuals of all ages. Why? Because “regular health exams and tests can help find problems before they start.” Not only is this true for our personal health, but also for the health of companies.

  • PCAOB inspections to focus on Technological developments in 2019

    March 22, 2019 Published: The Accountant The Public Company Accounting Oversight Board (PCAOB) 2019 inspections are to focus on technological developments affecting audits. This will cover the use of audit software tools and also the audit response to risks associated with cybersecurity incidents, digital assets, and distributed ledgers. The PCAOB’s Inspection Outlook for Audit Committees

  • 3 keys to productivity

    March 11, 2019 Published: Journal of Accountancy Kevin Gienger, CPA, managing partner at Boldt Carlisle + Smith, offers strategies for working less and accomplishing more. https://www.journalofaccountancy.com/videos/keys-to-productivity-kevin-gienger.html

  • Cinco países de América Latina concentran la actividad fintech de la región

    20 de Marzo de 2019 Publicado: Inversor Latam El BID señaló que América Latina y el Caribe tienen una elevada tasa de exclusión financiera. Unos 210 millones de personas, equivalentes al 46% de la población adulta, no tienen una cuenta bancaria. Según estudio del Banco Interamericano de Desarrollo (BID), hay cinco países de América Latina que concentran el

  • ASB changes align GAAS with PCAOB standards

    March 1, 2019 Published: Journal of Accountancy The AICPA’s Auditing Standards Board (ASB) voted to issue a new auditing standard, Omnibus Statement on Auditing Standards — 2019, that will more closely align standards for auditors of nonpublic clients to the auditing standards of the PCAOB, in order to enhance audit quality in an effective and efficient manner. The

  • PCAOB Staff Provides Guidance in Advance of CAM Effective Dates

    March 18, 2019 Published: PCAOB The Public Company Accounting Oversight Board today released three staff guidance documents developed to support implementation of the new critical audit matter (CAM) requirements.  Auditors will soon be required to communicate CAMs in the auditor’s report under the standard, AS 3101, The Auditor’s Report on an Audit of Financial Statements When

  • First-year challenges of TCJA implementation require broader penalty relief

    March 15, 2019 Published: Journal of Accountancy By Melanie Lauridsen As the first filing season that implements the law known as the Tax Cuts and Jobs Act (TCJA), P.L. 115-97, moves forward, many taxpayers are becoming frustrated to learn that their refunds are smaller or they owe money for the first time. The substantial uncertainty

  • Presentación “Modernización de la Ley de Bancos: Desafíos y Nueva Institucionalidad” – Rosario Celedón

    Presentación “Modernización de la Ley de Bancos: Desafíos y Nueva Institucionalidad” – Rosario Celedón

    14 de marzo de 2019 Publicado: CMF Del seminario: Seminario “Modernización de la Ley de Bancos: Desafíos y Nueva Institucionalidad” – Centro de Derecho Regulatorio y Empresa, Universidad del Desarrollo. (872 kb) Descargar Presentación http://www.cmfchile.cl/portal/prensa/604/w3-article-26022.html

  • PCAOB offers audit committees a preview of 2019 staff inspections

    March 14 2019 Published: AccountingToday The Public Company Accounting Oversight Board is giving corporate audit committees an overview of some of the key areas its inspection team will be looking at during upcoming audit firm inspections. The PCAOB has been undergoing dramatic changes in the past year, with an all-new board and senior staff, plus

  • PCAOB Posts 2019 Staff Inspections Outlook for Audit Committees

    PCAOB Posts 2019 Staff Inspections Outlook for Audit Committees

    March 14, 2019 Published: PCAOB The PCAOB posted to its website the 2019 Staff Inspection Outlook for Audit Committees.  The Board’s new strategic plan anticipated enhanced external engagement and more proactive communication with stakeholders, including audit committees, to inform them about the PCAOB’s core activities—including inspections—and to maintain an ongoing dialogue with them. 2019-Staff-Inspections-Outlook-Audit-CommitteesInspections-Outlook-for-2019  Descargar    

  • Voices 3 technologies transforming accounting, finance and tax

    March 13, 2019 Published: AccountingToday The data is clear: when considering technology within an organization, the question is no longer whether to invest — it’s how. According to KPMG’s 2018 U.S. CEO Outlook, CEOs are thinking a lot about technology and data and analytics (D&A) for their organizations. Ninety-eight percent of CEOs view technology disruption

  • Five Necessary Elements to Build a Fintech Hub

    March 4, 2019 Published: IFAC The Institute of Chartered Accountants in England and Wales and the Institute of Singapore Chartered Accountants have been looking at Fintech to understand what underpins innovation. Kirstin Gillon, Technical Manager, IT Faculty at ICAEW, discusses the latest research and highlights five key elements that underpin success: talent, capital, customers, regulation

  • For internal auditors, innovation is a work in progress

    March 12, 2019 Published: AccountingToday More than three-quarters of internal audit groups (76 percent) are undertaking some form of innovation, according to a new survey by the consulting firm Protiviti, but only 31 percent have a roadmap for it in place. That means while the internal auditors are positioning themselves for the future, they still

  • UK´s FRC to be replaced

    March 12, 2019 Published: The Accountant The UK Government has backed the Kingman review, and will replace the Financial Reporting Council (FRC) with the Audit, Reporting and Governance Authority (ARGA). The Government is in the process of appointing new leadership at the FRC which will eventually transition into ARGA. The FRC’s CEO Stephen Haddrill announced

  • How SMEs Can Supercharge Their Growth Potential

    March 4, 2019 Published: IFAC Much has been written in recent years about a discernible shift in focus among business leaders and policymakers toward achieving SME growth. In particular, there has been a shift in focus away from how entrepreneurs start and run businesses to how they can grow them over time. Some of the

  • Las FinTech llegaron para quedarse: inversión en el sector aumentó 55% en 2018 en Chile

    Las FinTech llegaron para quedarse: inversión en el sector aumentó 55% en 2018 en Chile

    La Tercera – Pulso Según KPMG, el monto alcanzó los US$70 millones. A nivel global llegó a US$111.800 millones, doblando la cifra del año anterior. DESDE hace algunos años las denominadas firmas financieras tecnológicas (FinTech) comenzaron a irrumpir en forma silenciosa en Chile y en el último tiempo lo han hecho cada vez con más

  • Accounting watchdog group objects to GASB proposal

    March 08 2019 Published: AccountingToday Truth in Accounting, a government watchdog group, is objecting to a proposed overhaul by the Governmental Accounting Standards Board in the financial reporting model for state and local governments and voiced its displeasure at a GASB hearing this week. GASB issued a Preliminary Views on Project No. 3-25 last September with the

  • Sikka: Audit outsourcing detrimental to quality

    March 06, 2019 Published: The Accountant At the official launch of the UK Labour Party’s report, Reforming the Auditing Industry, concerns were expressed over the amount of audit work that is outsourced by the Big Four and the affect it may have on audit quality. Prem Sikka, lead author of the report, noted that sources from

  • Experto dice que ya existe una indemnización a todo evento, pero casi no se usa

    Febrero 28, 2019 Medio: Pulso TV Esta modalidad está disponible en la legislación actual y permite una cobertura a todo evento para los trabajadores que llevan más de seis años en una empresa. El debate sobre la indemnización por años de servicio ha sido arduo en las últimas semanas, luego de que surgiera una propuesta

  • FRC issues Position Paper: next steps for development of Ethical and Auditing Standards

    March 05, 2019 Published: Financial Reporting Council (FRC) The FRC has issued a position paper which sets out how Ethical and Auditing Standards will be developed to respond better to the needs of users of audited financial information, following the recent call for feedback. The paper sets out the issues that will be developed to support a public

  • FRC consults on stronger Going Concern standard for auditors

    March 4, 2019 Published: Financial Reporting Council (FRC) The Financial Reporting Council (FRC) proposes to increase the work required of auditors when assessing whether an entity is a going concern. The consultation on important revisions to International Standard on Auditing (ISA) (UK) 570 Going Concern  follows concerns about the quality and rigour of audit and well-publicised corporate failures

  • Consultation Paper, Extended External Reporting (EER) Assurance

    February 28, 2019 Published: IAASB The IAASB is consulting on its progress in developing draft guidance in the first phase of its EER Assurance project. Public input is requested by June 21, 2019. EER encapsulates many different forms of reporting, including, but not limited to, integrated reporting, sustainability reporting and other reporting by entities about environmental,

  • Professional Ethics Executive Committee (PEEC) issues new and revised interpretations

    March 1, 2019 Published: Journal of Accountancy Confidential client information and independence were addressed. The AICPA Professional Ethics Executive Committee has adopted revised interpretations of the “Independence Rule” related to leases and client affiliates and a new interpretation under the “Confidential Client Information Rule” of the AICPA Code of Professional Conduct. The revised “Leases” interpretation (ET §1.260.040) states that self-interest,

  • Building a Future-Ready PAO (Professional Accountancy Organizations

    February 14, 2019 Published: IFAC By: Joseph Bryson and Manuel Arias In November 2018, over 100 participants from 70 jurisdictions gathered at an IFAC workshop during the World Congress of Accountants in Sydney, Australia, to discuss the accountancy profession’s relevance in an ever-changing and challenging environment and professional accountancy organizations (PAOs) roles. These are the key workshop

  • Accounting Technicians – Exploring Opportunities for the Profession

    February 26, 2019 Published: IFAC By: Confederation of Asian and Pacific Accountants (CAPA) Whatever their stage of economic development, all countries, across all sectors, have a workforce supporting the preparation of financial information at an operational level. Timely, credible and reliable financial information is fundamental to successful investment, to effective governance and to the quality

  • Auditors, bitcoin and the need for mutual trust

    February 25, 2019 Published: Accountancy Europe Embracing digitalisation will strengthen your business and grow your analytical skills. But it will also mean managing an ethical and regulatory maze, according to Olaf Riedel, Partner for Digital at Ernst & Young. He has no doubt about the potential benefits on the horizon: “Do I see opportunities coming

  • PCAOB Announces New Office of Enterprise Risk Management, Names Chief Risk Officer

    February 25, 2019 Published: PCAOB The Public Company Accounting Oversight Board announced it has created a new Office of Enterprise Risk Management to implement the Board’s strategic objective of implementing an Enterprise Risk Management (ERM) program for the organization. The Office of Enterprise Risk Management will be led by Sue Lee who has been named

  • Changes in financing liabilities – what does good disclosure look like?

    Changes in financing liabilities – what does good disclosure look like?

    February 21, 2019 Published: IFRS The International Accounting Standards Board (Board) issued an amendment to IAS 7 Statement of Cash Flows that became effective in 2017. The amendment requires companies to provide disclosures about changes in liabilities arising from financing activities. Nick Anderson, a member of the Board and former buy-side investor, discusses the objectives of the new disclosure

  • IFAC and AAT Accounting Technician Framework identifies digital skills as essential

    February 25, 2019 Published: The Accountant By: Mishelle Thurai  Digital skills have been highlighted as one of the key skills and attitudes required for an accounting technician. The International Federation of Accountants (IFAC) have released a framework for professional accountancy organisations outlining the skills and attitudes for accounting technicians. Digital skills involves the accounting technician

  • European Federation of Accountants and Auditors (EFAA) event reveals limited support for Reporting of NFI by SMES

    February 22, 2019 Published: The Accountant At a roundtable held by the European Federation of Accountants and Auditors for SMEs (EFAA) the shared view was that making the reporting of non-financial information (NFI) by SMEs mandatory would not be effective in stimulating SMEs and driving their role for a sustainable economy. Three policy considerations were

  • Focus on Professional Skepticism

    Focus on Professional Skepticism

    February 22, 2019 Published: IAASB -IFAC This communiqué is part of a series from the IAASB Professional Skepticism Working Group, providing updates on the IAASB’s efforts to appropriately reflect professional skepticism in its standards, together with other relevant news and information.   Descargar- Professional skepticism lies at the heart of a quality audit-342 KB  

  • COSO and Crowe offer guidance on internal controls for health providers

    February 20, 2019 Published: Accounting Today   The Committee of Sponsoring Organizations of the Treadway Commission, or COSO, is teaming up with Top 10 Firm Crowe LLP and CommonSpirit Health to issue new guidance for health care providers on internal controls amid heightened regulatory scrutiny of the health care sector. The publication, “2013 COSO Integrated

  • IFRS 15 Revenue from Contracts with Customers for investors

    February 14, 2019 Published: IFRS Many companies will shortly publish full-year IFRS 15 revenue and disclosures for the first time. Now is, therefore, a good time to take a look at what that means. In this webcast for investors, Nick Anderson, member of the International Accounting Standards Board, and investor engagement member Sid Kumar, CFA,

  • Three Imperatives for Taxing the Digital Economy

    February 15, 2019 Published: IFAC By: Kevin Dancey, Chief Executive Officer, IFAC The digital revolution is transforming economies, business models, and the lives of all citizens. It is dramatically impacting every aspect of economies, including the tax base and governments’ ability to raise revenues. And tax policy is at the top of the agenda in

  • FASB addresses deferred revenue in business combinations

    February 14, 2019 Published: Journal of Accountancy The recognition and measurement of deferred revenue in business combinations would change under a new proposal issued Thursday by FASB. FASB issued a proposed Accounting Standards Update (ASU) and an Invitation to Comment, and is seeking comments on both documents by April 30. The board is addressing diversity

  • Chile – OECD Anti-Bribery Convention

    Chile – OECD Anti-Bribery Convention

    Con fecha 20 de diciembre de 2018, AEChile fue invitada por el Ministerio de Relaciones Exteriores a participar a la entrega de los resultados de la fase 4 de la Anti-Bribery Convention de la OECD sobre Chile, sobre el tema específico de DETECTION OF THE FOREIGN BRIBERY OFFENCE. En capitulo A.7. Detection through Accounting and

  • TRAS PROPUESTA PRESENTADA POR LA CMF EY y KPMG demandan mayor profundidad y urgencia en regulación a las FinTech

    TRAS PROPUESTA PRESENTADA POR LA CMF EY y KPMG demandan mayor profundidad y urgencia en regulación a las FinTech

    El Diario Financiero Las consultoras creen que el Ejecutivo no solo debe quedarse con el ámbito del crowdfunding, sino incluso abarcar a los criptoactivos. A una semana que la Comisión para el Mercado Financiero (CMF) diera a conocer los lineamientos de su propuesta para regular a las plataformas de crowdfunding y a otros actores de

  • ¿Hay interés por repatriar capitales y hacer retiros del FUT histórico?

    ¿Hay interés por repatriar capitales y hacer retiros del FUT histórico?

    ABOGADOS PERCIBEN EXPECTACIÓN ANTE VENTANAS QUE ABRE REFORMA TRIBUTARIA   El Diario Financiero Si bien aún no se vota la idea de legislar -lo que ocurriría en marzo-, se espera que la reforma tributaria esté aprobada como ley a mediados del presente año. Y de ser asi, entrarán a escena nuevamente dos ventanas: una de

  • European single electronic format (ESEF) Digitalising EU listed companies’ financial information

    February 18, 2019 Published: Accountancy Europe From 1 January 2020 on, EU law requires listed companies to report their financial statements in the European Single Electronic Format (ESEF). This harmonised format makes reports machine-readable. With ESEF, the European Commission aims to facilitate access, analysis and comparability of financial statements and make reporting easier. This eventually

  • EU and global securities regulators welcome agreement on data transfer

    February 15, 2019 Published: IOSCO The International Organization of Securities Commissions (IOSCO) and the European Securities and Markets Authority (ESMA) welcome theOpinion of the European Data Protection Board (EDPB) on their administrative arrangement for the transfer of personal data between European Economic Area (EEA) Financial Supervisory Authorities and non-EEA Financial Supervisory Authorities. Under the European General

  • How to hire an ethical hacker

    February 4, 2019 Published: Journal of Accountancy Rob Goldberg, a principal at Deloitte, offers advice on why companies should hire an ethical hacker and how such a hacker can bolster cybersecurity. https://www.journalofaccountancy.com/videos/ethical-hackers.html

  • IMA releases management accounting competency framework

    February 13, 2019 Published: The Accountant By: Mishelle Thurai The Institute of Management Accountants (IMA) has released its updated Management Accounting Competency Framework. The Framework identifies six domains of core knowledge, skills, and abilities that finance and accounting professionals, many of which have been included in the Certified Management Accountant (CMA) credential curriculum. Some of the

  • Global Consultation on Quality Management for Firms and Engagements Now Open

    February 08, 2019 Published: IFAC The International Auditing and Assurance Standards Board (IAASB) seeks public comment by July 1, 2019 on three interrelated standards that address quality management. The proposals bring important changes to the way professional accountancy firms are expected to manage quality—for audits, reviews, and other assurance and related services engagements. The proposed standards include a new

  • Finding value in revenue recognition implementation

    February 11, 2019 Published: Journal of Accountancy By: Ken Tysiac The challenges associated with FASB’s new revenue recognition standard have been substantial for many companies, but at least they’re gaining valuable data and process improvements as a result of the implementation. Getting the required data for the new financial disclosures under the standard was challenging

  • ACCA slams CMA´s audit reform proposals

    February 8, 2019 Published. The Accountant By: Joe Pickard The Association of Chartered Certified Accountants (ACCA) has criticised the UK’s Competition and Markets Authority’s (CMA) proposals for a reform of the statutory audit market. In its response to the study, the ACCA said: “While we support the CMA’s study of the statutory audit market, we

  • Voices How AI is transforming the jobs of accountants

    February 08 2019 Published: AccountingToday By: Aman Mann Artificial intelligence has become a buzz-phrase of sorts in recent years, and while it’s become hard to separate the hype from its practical potential, AI is rooted in a very realistic notion. Put simply, AI is one of the most advanced concepts in intelligent systems and decision-making

  • El reporte de información no financiera: nuevo paso en favor de la transparencia

    Enero 29, 2019 Publicado: elEconomista Por: Antoni Gómez El pasado 28 de diciembre, el Gobierno aprobó una modificación legal por la que se establece la obligatoriedad para una serie de empresas de publicar un estado de información no financiera relevante en relación a sus actividades. Esta ley responde a la aplicación en España de la

  • Critical Audit Matters: Audit Committee Perspectives

    February 5, 2019 Published: The Caq A 2017 standard from the Public Company Accounting Oversight Board established that auditors of large accelerated filers would be required to communicate critical audit matters (CAMs) in their auditor’s reports for fiscal years ending on or after June 30, 2019. In this video, audit committee chairs at leading companies

  • Consultation into improvements to the reporting of intangibles launched

    February 6, 2019 Published: Financial Reporting Council (FRC) Possible improvements to the reporting of factors that are important to a business’ generation of value are discussed in a consultation launched by the Financial Reporting Council (FRC) today. There are frequent calls to reform the accounting for intangible assets, partly in response to the move to a knowledge-based

  • Encouraging New Data on Accrual Adoption but Further Progress Needed

    February 4, 2019 Published: IFAC By: Steven Cain, Technical Manager, Policy and Technical Team, CIPFA In early November 2018 the Chartered Institute of Public Finance and Accountancy and IFAC launched a joint report on developments in the International Public Sector Financial Accountability Index, tracking progress in the adoption of accrual accounting by national and federal governments around the world.

  • Employee benefit plan auditing rules to change

    February 1, 2019 Published: Journal of Accountancy A new standard includes a revised report format for ERISA engagements. Reporting and performance requirements for practitioners auditing employee benefit plans subject to the Employee Retirement Income Security Act of 1974 (ERISA) will change under a new standard that the AICPA Auditing Standards Board (ASB) has voted to issue. Statement

  • Impacto del escenario político en actividad empresarial: fuerte caída en valoración positiva

    El Diario Financiero Un retroceso de 38 puntos en doce meses y de 25 puntos en el segundo semestre arrojó Encuesta de Expectativas Empresariales EYDiario Financiero. Un importante deterioro en la valoración del impacto del escenario político del país en la actividad del sector privado, constató la última edición de la Encuesta de Expectativas Empresariales

  • FASB alters transition requirements, scope of credit losses standard

    February 1, 2019 Published: Journal of Accountancy Implementation dates now will be aligned. FASB amended its standard on accounting for credit losses, changing the transition requirements and clarifying the scope of the standard. The credit losses standard was issued in 2016 and requires more timely reporting of credit losses on loans and other financial instruments. The

  • Feature: Materiality modernised

    January 28, 2019 Published: IFRS By Gary Kabureck, Member, International Accounting Standards Board ‘Financial statements need to communicate better’… was the essence of a pointed message the International Accounting Standards Board (Board) heard in early 2013. In response, our chair Hans Hoogervorst committed us to address, and resolve, what is colloquially referred to as ‘the disclosure

  • Digitalisation: reporting is an art, not a science

    January 22, 2019 Published: Accountancy Europe We interviewed Arjan Brouwer, member of our Corporate Reporting Policy Group who discusses the opportunities that technology brings to the future of corporate reporting. For Arjan, human input is essential. To illustrate his thoughts, he brings up the example of how artificial intelligence is able to create completely new

  • IES 7, Continuing Professional Development (Revised)

    January 28, 2019 Published: IFAC The revised International Education Standard (IES) 7, Continuing Professional Development, clarifies the principles and requirements for how professional accountancy organizations measure, monitor, and enforce their continuing professional development systems. It makes it clear that all professional accountants must develop and maintain professional competence to perform their role. The revised IES 7 places

  • Buildings Will Drive Transition to Circular Economy: New Methods of Valuation and Financing Are Key

    January 28, 2019 Published: IFAC By: Aglaia Fischer, Project Manager Circular Finance at Circle Economy & Sustainable Finance Lab, Lucas Geusebroek, Project Lead Circular Economy, Royal NBA A new report, Building Value, A Pathway to Circular Construction Finance, highlights the radical potential for valuing and financing circular buildings to accelerate the circular economy. The report includes tools

  • Voices: A realist’s predictions for the accounting profession in 2019

    January 23 2019 Published: AcountingToday By: Mike Whitmire I’m an accountant. Like most of you, I’m also a realist. I’m tired of “doom and gloom” predictions about the profession. I’m also sick of overly rosy and optimistic pictures of what’s to come for accountants and auditors — painted by non-accountants who have no idea what they’re

  • G20 Report highlights a high level of distrust in NGO Tax Systems

    January 24, 2019 Published; The Accountant The G20 Public Trust in Tax Report shows there is a high level of distrust among the public in politicians and non-government organisations in regards to tax systems. The report from the Association of Chartered Certified Accountants (ACCA), Chartered Accountants Australia and New Zealand (CA ANZ), and the International

  • Americans’ personal financial satisfaction dips in fourth quarter

    January 24, 2019 Published: Journal of Accountancy By Samiha Khanna  In the last quarter of 2018, the AICPA’s Personal Financial Satisfaction Index (PFSi) took a downward turn for the first time in two years. The PFSi dropped by 1.4 points (4.4%), largely due to a downturn in the stock market. However, the PFSi is still

  • Tech Trends 2019 – Beyond the digital frontier

    January 16, 2019 By: Deloitte The most promising technology trends of tomorrow are grounded in nine powerful macro forces that form the backbone of technology innovation today. Understanding how they function, together and separately, is key. Ver  Video       https://www2.deloitte.com/insights/us/en/multimedia/videos/tech-trends-2019.html

  • Reporting of Non-Financial Information by SMEs in Europe

    January 22, 2019 Published: IFAC By: Paul Thompson There are growing pressures for businesses to explain how their activities impact the environment and society at large. In Europe, and indeed in many if not most other regions, small and medium-sized enterprises (SMEs) account for the majority of private sector GDP, employment, and environmental and social

  • CPA Canada study of the impact of adopting the new revenue standard

    January 21, 2019 Published: CPA Learn about the key findings from Chartered Professional Accountants of Canada (CPA Canada)’s study of the financial impact of the adoption of the new revenue standard by listed companies. Canadian public companies with calendar year ends began applying a new accounting standard for revenue recognition in the first quarter of

  • Comment on the proposed general improvements to the IFRS Taxonomy 2018 by Monday 4 February

    January 16, 2018 Published: IFRS In December 2018, the IFRS Foundation published IFRS Taxonomy 2018—Proposed Update 2 General Improvements for public consultation. The proposed changes aim to improve the quality of tagged data and to make the IFRS Taxonomy easier to use. The proposed update: – introduces implementation notes that explain how to use specific IFRS Taxonomy elements and

  • Tech Trends 2019 – Beyond the digital frontier

    Tech Trends 2019 – Beyond the digital frontier

    January 18, 2019 By: Deloitte Emerging technology trends can seem both elusive and ephemeral, but some become integral to business and IT strategies—and form the backbone of tomorrow’s technology innovation. The eight chapters of Tech Trends 2019 look to guide CIOs through today’s most promising trends, with an eye toward innovation and growth and a

  • IAASA warns UK auditors of impacts of No-Deal Brexit

    January 17, 2019 Published: The Accountant By: Joe Pickard The Irish Auditing and Accounting Supervisory Authority (IAASA) has written to the leading UK audit firms to give advice on preparations for a no-deal Brexit scenario. The IAASA has stated that in the event of a no-deal exit from the EU, UK audit firms will have

  • Propuestas a modernización tributaria

    14 de enero 2019 Publicado por CNN Chile Entrevista a Cristian Vargas, Socio de Tax Legal de BDO Chile http://data.nexnews.cl/news/2019/01/14/19391700.mp4  

  • IOSCO issues good practices to assist audit committees in supporting audit quality

    The Board of the International Organization of Securities Commissions (IOSCO) published today the IOSCO Report on Good Practices for Audit Committees in Supporting Audit Quality, which seeks to assist audit committees in promoting and supporting audit quality. The quality of a company’s financial report, supported by an independent external audit, is key to market confidence

  • IOSCO issues good practices to assist audit committees in supporting audit quality

    IOSCO issues good practices to assist audit committees in supporting audit quality

    January 17, 2019 Published: IOSCO The Board of the International Organization of Securities Commissions (IOSCO) published today the IOSCO Report on Good Practices for Audit Committees in Supporting Audit Quality, which seeks to assist audit committees in promoting and supporting audit quality. The quality of a company’s financial report, supported by an independent external audit,

  • Corporate Tax remains a key source of revenue for developing countries

    January 15, 2019 Published: The Accountant By Mishelle Thurai Despite falling rates worldwide, corporate tax remains a key source of income especially for governments in developing countries. Corporate Tax Statistics, a report from the Organisation for Economic Co-operation and Development (OECD), revealed in Egypt, Kazakhstan, Malaysia, Papua New Guinea and the Philippines, Corporate Income Tax

  • Presentación “Diseño Institucional y Proceso Sancionatorio” – Andrés Montés

    Presentación “Diseño Institucional y Proceso Sancionatorio” – Andrés Montés

    10 de enero de 2019 Publicado por CMF Del seminario: Seminario Internacional Fondecyt sobre Abusos de Mercado de Valores – Facultad de Derecho de la Universidad Diego Portales, (8-10 de enero de 2019) Descargar pdf 1.3 MB

  • Future Implementation Support for International Standards on Auditing (ISAs)

    January 15, 2019 Published: IFAC By: Christopher Arnold and Dawn McGeachy As part of the IFAC’s commitment to support the implementation and adoption of international standards, we are exploring if new or additional initiatives could better assist small and medium-sized practices (SMPs) in efficiently and effectively implementing the International Standards on Auditing (ISAs). In particular, we are

  • The EC´s Technical Expert Group on Sustainable Finance publishes First Report

    January 14, 2019 Published: The Accountant The Technical Expert Group on Sustainable Finance set up by the European Commission (EC) has published its first report on companies’ disclosure of climate-related information. The report contains proposals for disclosing not just how climate change might influence the performance of a company, but also the impact of the

  • Delivery of last pending proposals, a common Destiny of unity, the hour of European Democracy

    January 9, 2019 Published: European Commission In its first weekly meeting of 2019 Commission discusses the main political challenges ahead The College of Commissioners held today the first weekly meeting of 2019 which was devoted to discussing the challenges of this new year. Commissioners used the opportunity to take stock and discuss the year ahead,

  • Implementing New Technology Requires Strategic Thinking

    January 7, 2019 Published: IFAC Making technology work starts with thinking strategically about technology—not how to bolt new tech on. Technology needs to be built in. When implementing your technology strategy, consider how your firms and teams currently work and defining your technological requirements, according to Mark Edmondson, President and CEO of Inflo. The key is to

  • From Risk to Opportunity – Accountants Need to Lead Enterprise Risk Management

    January 7, 2019 Published: IFAC By:  Stathis Gould and Stuart Chaplin IFAC’s report, Enabling the Accountant’s Role in Effective Enterprise Risk Management, highlights both the importance of Enterprise Risk Management (ERM), and the contribution of accountants, CFOs and finance functions in leading ERM practice. We believe that professional accountants have an opportunity to enable more effective

  • Enabling the Accountant’s Role in Effective Enterprise Risk Management

    Enabling the Accountant’s Role in Effective Enterprise Risk Management

    January 7, 2019 Published: IFAC Enterprise risk management (ERM) needs to be part of the professional accountant mindset and makeup. This report explores the contribution of professional accountants to effective ERM in their roles as chief financial officers (CFO) and within finance functions. To add value, accountants must be seen as risk experts who are

  • Volunteering for a more human approach

    January 7, 2019 Published: Accountancy Europe Auditors face increasing pressure to evaluate more than just the financial results of a company. For 40 years, one audit firm in the Netherlands has been committed to helping the community for a more human approach to the profession. Marcel Karman and Arjan Buteijn of Dubois & Co, share

  • New Standard on leases now effective

    New Standard on leases now effective

    January 8, 2019 Published: IFRS IFRS 16 Leases was issued in January 2016 and is effective for annual reporting periods starting on or after 1 January 2019. It replaces IAS 17 Leases and related Interpretations. IFRS 16 changes the accounting substantially for lessees. The new Standard eliminates a lessee’s classification of leases as either operating leases or finance leases.

  • Los cambios tecnológicos que traerá la nueva Ley de Datos al mercado financiero

    Los cambios tecnológicos que traerá la nueva Ley de Datos al mercado financiero

    INICIATIVA SE DISCUTE EN LA CÁMARA ALTA El Diario Financiero Las big four-Deloitte, PwC, EY y KPMG entregan su análisis de la iniciativa que pondrá al país a la par de mercados desarrollados. Si bien aún se encuentra en discusión el proyecto que regula la protección y el tratamiento de los datos personales y crea

  • A new framework for audit quality disclosures

    January 8, 2019 Published: Journal of Accountancy In their continuing pursuit of the highest possible quality in their work, many audit firms produce annual transparency or audit quality reports to inform the public about their efforts. To help audit firms develop those disclosures, the Center for Audit Quality (CAQ) has developed a new Audit Quality Disclosure

  • Audit Quality Disclosure Framework

    Audit Quality Disclosure Framework

    January 8, 2019 Published: The Caq The Audit Quality Disclosure Framework can aid audit firms of all sizes as they develop or consider developing their transparency or audit quality reports. Developed in consultation with a range of CAQ member firms, the Framework adheres to three key principles: – The Framework is voluntary and illustrative, as opposed to

  • Changes related to peer review proposed for UAA

    January 4, 2019 Published: Journal of Accountancy The National Association of State Boards of Accountancy (NASBA) is proposing changes to the Uniform Accountancy Act (UAA) Model Rules related to peer review programs. The UAA is a nonbinding model designed to provide best practices for state laws and regulations related to the accounting profession. Typically, when

  • FASB proposes alternative to accounting for Goodwill and certain identifiable intangible assets for non-for-profits

    January 3, 2018 Published: The Accountant The Financial Accounting Standards Board (FASB) has issued a proposed Accounting Standards Update (ASU), which would reduce the cost and complexity of accounting for goodwill and measuring certain intangible assets for not-for-profit organisations. Stakeholders have been encouraged to review and provide input on the proposed ASU by February 18

  • What’s coming in 2019

    December 2018 Published: FASB Private Company Council (PCC) Chair Candy Wright talks about key issues the council addressed at the Q4 meeting in Norwalk and looks ahead at what’s coming in 2019. https://www.fasb.org/home

  • ASB changes align GAAS with PCAOB standards

    January 3, 2019 Published: Journal of Accountancy The AICPA’s Auditing Standards Board (ASB) voted to issue a new auditing standard, Omnibus Statement on Auditing Standards — 2019,that will more closely align standards for auditors of nonpublic clients to the auditing standards of the PCAOB, in order to enhance audit quality in an effective and efficient manner. The

  • ICYMI: Top Trends on Gateway in 2018

    December 18, 2018 Published: IFAC By: Bhumi Jariwala, Editor, IFAC Global Knowledge Gataway For the accountancy profession, 2018 was a future-focused year. The need to embrace rapidly emerging technologies, attract and retain top talent, enhance audit quality, leadership in ethics and demonstrating how the accountancy profession is playing a wider role in society were among the key

  • PCAOB posted an annotated example of an auditor’s report for the audit of a broker or dealer

    December 17, 2018 The following is an example of an unqualified auditor’s report under AS 3101* on the financial statements of a broker or dealer reporting under Rule 17a-5 of the Securities Exchange Act of 1934. The example includes an unqualified auditor’s report on the supplemental information and assumes no explanatory or emphasis paragraphs. New

  • Investors favor SOX 404(b) audit rule, says study

    December 27, 2018 Published: AccountingToday Section 404(b) of the Sarbanes-Oxley Act of 2002, which requires public companies to undergo annual audits of the adequacy of their internal controls over financial reporting, appears to be supported by investors who want newly acquired companies to be audited as well, according to a new study. The study, by

  • Blockchain as a Tool to Achieve the SDGs

    December 17, 2018 Published: IFAC Blockchain can be a powerful enabler for sustainability according to Amir Dossal, President & CEO, Global Partnerships Forum; Co-founder & Executive Vice-Chair, Blockchain Commission for Sustainable Development; and former Executive Director at the United Nations Office for Partnerships. Amir addresses how blockchain offers rapid solutions, transparency and accountability while also

  • UK Gov. launches new review into audit profession

    December 18, 2018 Published: The Accountant Donald Brydon, the outgoing chair of the London Stock Exchange Group, has been appointed to lead a new independent review of the quality and effectiveness of the UK audit market, the so-called ‘Brydon Review’. The independent review was launched the same day the Kingman Review published its findings that

  • Reforma tributaria en etapa clave: auditoras aterrizan los posibles cambios al proyecto

    Reforma tributaria en etapa clave: auditoras aterrizan los posibles cambios al proyecto

    El Diario Financiero Hace más de cuatro meses que el proyecto de modernización tributaria ingresó a trámite a la comisión de Hacienda de la Cámara de Diputados. Período en el que el debate ha sido intenso, a pesar de las intermitencias producto del trámite del Presupuesto 2019. La integración, la recaudación derivada de la boleta

  • How audit committees can oversee FASB standard adoption

    December 20, 2018 Published: Journal of Accountancy The abundance of game-changing new accounting standards issued by FASB has given audit committees a lot to consider as 2018 concludes. New standards for revenue recognition, lease accounting, and accounting for credit losses have demanded intense focus from company finance departments. Audit committees are charged with oversight and

  • 6 tips for developing critical audit matter disclosures

    December 21, 2018 Published: Journal of Accountancy A new standard for public company auditing is bringing the stress that accompanies any significant change, but it also is giving auditors the opportunity to communicate more about the audit. New PCAOB rules for the auditor’s report require auditors to disclose “critical audit matters” that are encountered in

  • PCAOB Adopts New Estimates Standard and Amendments Related to Using the Work of Specialists

    December 20, 2018 Published: PCAOB The Public Company Accounting Oversight Board today adopted a new standard to enhance the requirements that apply when auditing accounting estimates, including fair value measurements.  The Board also adopted amendments to its auditing standardsto strengthen requirements that apply when auditors use the work of specialists in an audit. The new estimates standard replaces

  • Post-Implementation Review of AS 1220, Engagement Quality Review

    December 19, 2018 Published: PCAOB PCAOB staff have completed a post-implementation review of AS 1220, Engagement Quality Review. The review of AS 1220 is the PCAOB’s first post-implementation review. The review includes key findings, messages for auditors and audit committees, and enhancements to achieve more effective reviews. To perform the review the staff analyzed information collected through the

  • IFRS 17: Insurance Contracts

    December 14, 2018 Published: IFRS Darrel Scott, member of the International Accounting Standards Board, and Roberta Ravelli, technical staff, report on the discussion at the December 2018 meeting of the Board about IFRS 17 Insurance Contracts. https://www.youtube.com/watch?v=T_wHY7wl-0o&feature=youtu.be  

  • Post-Implementation Review of AS 1220, Engagement Quality Review

    Post-Implementation Review of AS 1220, Engagement Quality Review

    December 19, 2018 Published: PCAOB The PCAOB staff have completed a post-implementation review of AS 1220, Engagement Quality Review. The review of AS 1220 is the PCAOB’s first post-implementation review. The review includes key findings, messages for auditors and audit committees, and enhancements to achieve more effective reviews. Further details regarding the review of AS 1220, including technical details

  • GAAP, SEC taxonomies for 2019 are available

    December 18, 2018 Published: Journal of Accountancy The 2019 GAAP Financial Reporting Taxonomy and the 2019 SEC Reporting Taxonomy are available on FASB’s website, the board announced Tuesday. FASB expects the taxonomies to be accepted as final by the SEC early in 2019. The 2019 GAAP Financial Reporting Taxonomy contains updates for accounting standards and other recommended improvements. The

  • 2018 Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements

    December 17, 2018 Published: IFAC – IAASBCurrent Edition The latest edition of the handbook includes: – ISA 250 (Revised), Consideration of Laws and Regulations in an Audit of Financial Statementsand amendments to other International Standards in response to the new requirements addressing non-compliance with laws and regulations (NOCLAR) in the IESBA International Code of Ethics for Professional

  • PCAOB to consider rules on auditing estimates, use of specialists

    December 11, 2018 Published: Journal of Accountancy The PCAOB will consider whether to adopt new public company auditing rules for auditing accounting estimates and use of the work of specialists during a public meeting scheduled for Dec. 20. The subjective nature of estimates and fair value measurements make these issues challenging for auditors. The PCAOB

  • FRC issues revised auditing standard and consults on guidance for quality bank audits

    12 December 2018 Published: FRC The Financial Reporting Council (FRC) has issued an International Standard on Auditing Accounting Estimates and Related Disclosures, covering the audit of expected credit losses in banks and which reflects the increased importance and complexity of estimates in financial statements. The FRC strongly supported the development on this standard. The FRC is

  • Signs on the Road to Change for Accountants in Business in a Digital Age

    December 11, 2018 Published: IFAC By: Larry White, Executive Director, Resource Consumption Accounting Institute   Professional accountants working in business and the public sector constitute the overwhelming majority of the profession working within and beyond finance teams. The future attractiveness of the profession is very much dependent on the value these accountants create to secure

  • Public Sector Accounting for Cryptocurrencies

    November 30, 2018 Published: IFAC Cryptocurrency presents a new type of value and payment method that is undeniably different from traditional currency. So how should cryptocurrencies be classified in financial statements under the existing standards for the public sector? According to Frans van Schaik, the Global Leader Public Sector Accounting and Auditing at Deloitte, they

  • How audit committees can address emerging technologies

    December 12, 2018 Published: Journal of Accountancy Emerging technologies present big opportunities for efficiencies and strategic advantages for companies, but they also pose substantial challenges for audit committees. Artificial intelligence and robotic process automation can change the way companies do business and increase efficiency and the quality of financial reporting. But the technologies also pose

  • Emerging Technologies: An Oversight Tool for Audit Committees

    Emerging Technologies: An Oversight Tool for Audit Committees

    December 12, 2018 Published: The Caq Emerging Technologies: An Oversight Tool for Audit Committees provides a framework and questions that audit committees may ask management and auditors to help inform their oversight of financial reporting as emerging technologies take hold. Leveraging the work of the Committee of Sponsoring Organizations of the Treadway Commission (COSO), the CAQ’s

  • SEC urges consistency in non-GAAP reporting

    December 10, 2018 Published: Journal of Accountancy SEC Chairman Jay Clayton and Chief Accountant Wes Bricker urged CPAs on Monday to deliver consistency in the non-GAAP information they report to investors. “There has to be a similar consistency in the reporting of non-GAAP numbers and key performance indicators (KPIs) as we expect in GAAP numbers,”

  • What ‘dry runs’ reveal about critical audit matters

    December 10, 2018 Published: Journal of Accountancy New PCAOB rules on the content of the auditor’s report are providing audit practitioners with an opportunity to communicate more and different information on an engagement than ever before. But auditors are still performing “dry runs” to practice how and what to communicate as they prepare to implement

  • Encuentro CMF – Auditores Externos

    Encuentro CMF – Auditores Externos

    Descargar: Discurso Jose Monsalve_Encuentro CMF – Auditores Externos   Descargar: Discurso Encuentro Auditores Externos 2018 – Joaquín Cortez  

  • Critical Audit Matters: Lessons Learned, Questions to Consider, and an Illustrative Example

    Critical Audit Matters: Lessons Learned, Questions to Consider, and an Illustrative Example

    December 10, 2018 Published: The Caq A 2017 standard from the Public Company Accounting Oversight Board established that auditors of large accelerated filers would be required to communicate critical audit matters (CAMs) in their auditor’s reports for fiscal years ending on or after June 30, 2019. Continuing the public company auditing profession’s longstanding and constructive

  • What PCAOB inspectors will look for in 2019

    December 7, 2018 Published: Journal of Accountancy Systems of quality control, independence issues, and recurring deficiencies will be among the main areas of focus during PCAOB inspections of registered audit firms during 2019. The PCAOB Division of Registration and Inspections staff on Thursday provided an outlook on the objectives and potential focus areas for its 2019 inspections

  • Technology Will Transform Audit

    November 30, 2018 Published: IFAC While traditional audit and assurance services will remain essential, new accounting technologies are likely to significantly impact the way auditors execute engagements and client services, according to Steve Ursillo, Jr., Partner, Risk Assurance & Advisory and National Leader: Information Assurance & Cybersecurity at Cherry Bekaert. http://www.ifac.org/global-knowledge-gateway/audit-assurance/discussion/technology-will-transform-audit  

  • Simplifying implementation of FASB’s not-for-profit financial reporting standard

    November 5, 2018 Published: Journal of Accountancy By Christopher M. Gordon, CPA, and Ruth Granlund, CPA Tax-exempt organizations are working through the biggest change to not-for-profit financial reporting in 25 years. FASB Accounting Standard Update (ASU) No. 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities, brings significant changes for all not-for-profit organizations,

  • AICPA issues new standard for ERISA benefit plan audits

    December 3, 2018 Published: Accounting Today The American Institute of CPAs’ Auditing Standards Board voted to issue a long-awaited standard on audits of financial statements of employee benefit plans, although it is still awaiting some details before the standard takes effect. The Statement on Auditing Standards Forming an Opinion and Reporting on Financial Statements of Employee

  • US Regulators plan changes to CPA Licensure Model

    November 29, 2018 Published: The Accountant Leaders from the accounting profession, regulators and other stakeholders have revealed talks are ongoing in an effort to change the US CPA licensure model in response to the expanded skillsets accountants need. The goal of the effort is to align licensure with how CPAs will perform services in an

  • 8 things to know about lease accounting implementation

    November 29, 2018 Published: Journal of Accountancy The changes brought about by FASB’s new lease accounting standard are coming into full view for finance departments that use U.S. GAAP for their financial reporting. Many public companies are in their last stages of implementing the standard, which takes effect for them at the beginning of next

  • Harnessing Innovative Technologies To Advance Audit Quality

    November 20, 2018 Published: Forbes By: Panos Kakoullis Brand Contributor Businesses today operate in a dynamic, fast-moving, digitally enabled, and fiercely competitive global economy. To respond, organizations must constantly adapt – and so must their auditors, by incorporating innovative technologies to continuously address and identify emerging risks in markets characterized by perpetual transition. Ground breaking technologies

  • Audit Committee Reporting – Leslie Murphy

    November 20, 2018 Published: The Caq What’s driving enhancements in audit committee disclosure? For Leslie Murphy, President and CEO at Murphy Consulting and audit committee chair at Kelly Services and Loop Industries, one key factor is the growing number of assessments of auditors that audit committees are performing. Beyond improving oversight of auditors, she says,

  • How to incorporate analytics into workforce planning

    November 27, 2018 Published: Journal of Accountancy In a time of great disconnection in the workplace, scenario planning through analytics may be a key to success for organizations and their people. The workplace disconnection arises because organizations are having difficulty finding enough skilled workers to fill their vacant positions, yet even the best employees are

  • Strategies for maintaining an effective board

    November 1, 2018 Published: Journal of Accountancy Strong not-for-profit governance hinges on successful recruitment, training, and retention. The severity of the risks associated with not-for-profit board shortcomings came fully into focus for Cheryl Olson, CPA, CGMA, while she was having coffee earlier this year with Elizabeth Grant. Grant is attorney-in-charge of the Charitable Activities Section in the Civil Enforcement Division

  • IOSCO seeks feedback on proposed framework for assessing leverage in investment funds

    November 14, 2018 Published: IOSCO The Board of the International Organization of Securities Commissions (IOSCO) is requesting feedback on a proposed framework to help measure leverage used by investment funds which in some circumstances could pose financial stability risks. The proposed framework, outlined in IOSCO Report: Leverage, comprises a two-step process aimed at achieving a

  • FRC’s Annual Review of Corporate Governance and Reporting 2017/2018

    FRC’s Annual Review of Corporate Governance and Reporting 2017/2018

    October 2018 Published: Financial Reporting Council (FRC) The review noted that the landscape for corporate governance and reporting is changing and stakeholder expectations are evolving. The Lab projects tie into many topics covered in the report, including the focus on risk reporting, alternative performance measures and viability reporting. Descargar (pdf 924 kb.)      

  • AICPA wants IRS to reconsider tax transcript changes

    November 20, 2018 Published: AccountingToday The American Institute of CPAs is asking the Internal Revenue Service to rethink its proposed changes to the tax transcript process, contending they would delay the process of getting copies of old tax returns for clients. “We appreciate your efforts to protect taxpayer data from cybercriminals; however, these changes will

  • Presentación “Regulación para FinTech: Una visión desde el regulador del mercado de valores” – Kevin Cowan

    Presentación “Regulación para FinTech: Una visión desde el regulador del mercado de valores” – Kevin Cowan

    22 de noviembre de 2018 Publicado: CMF Descargar PDF 1.9 MB. Del seminario: Regulación FinTech: Innovando con Reglas Claras (ESE Business School de la Universidad de los Andes.)

  • New Auditor’s Reporting Model: What Audit Committees Should Know

    November 7, 2018 Published: The Caq In this November 2018 episode of “Inside America’s Boardrooms,” Catherine Ide, the CAQ’s Managing Director of Professional Practice and Member Services discusses implementation of the new auditor’s reporting model, particularly the identification and communication of critical audit matters (CAMs). Ide reviews how CAMs are defined and outlines various implications

  • Global growth is slowing amid rising trade and financial risks

    November 21, 2018 Published: OECD Global economic growth remains strong but has passed its recent peak and faces escalating risks including rising trade tensions and tightening financial conditions, according to the OECD’s latest Economic Outlook. Growth forecasts for next year have been revised down for most of the world’s major economies. Global GDP is now

  • Proposed guidance published on inventory valuation

    November 19, 2018 Published: Journal of Accountancy The AICPA Financial Reporting Executive Committee (FinREC) on Monday published a working draft on inventory valuation and is seeking comments on the draft. The inventory valuation material ultimately will be included in an AICPA Accounting and Valuation Guide on business combinations. The inventory working draft provides nonauthoritative guidance and illustrations

  • Review of 2016 Audit Standards

    November 20, 2018 Published: The Financial Reporting Council (FRC) The Financial Reporting Council (FRC) is consulting with stakeholders to determine how effective the changes to ethical and auditing standards in 2016 have been in delivering high quality audit, and whether further steps are now needed to strengthen auditor independence, reduce conflicts, improve quality and preserve trust in

  • FEI publishes guides to internal controls for leasing and CECL standards

    November 16, 2018 Published: Accounting Today Financial Executives International has released two guides to help CFOs, controllers and other senior finance execs address the internal control considerations for the new lease accounting and credit loss standards. The pair of “ICFR: Insights, Issues and Practices” guides discuss some of the considerations and best practices that financial

  • The Global Accountancy Profession’s Call to Action for G20 Countries

    The Global Accountancy Profession’s Call to Action for G20 Countries

    November 19, 2018 Published: IFACTen Recommendations Ahead of the 2018 G20 Summi Smart regulation, heightened transparency and inclusive growth are needed for global economic progress. These three priorities encapsulate the themes in the IFAC Call to Action ahead of the 2018 G20 Summit. G20 countries play a crucial role in fostering institutions and governance models

  • FRC announces 2019/20 audit thematic reviews, priority sectors and audit areas of focus

    November 15, 2018 Published: The Financial Reporting Council (FRC) The Financial Reporting Council (FRC) will, in 2019/20, supplement its routine AQR monitoring programme with two thematic reviews. These thematic reviews, which focus on aspects of audit practice across a number of firms to identify both scope for improvement and good practice, complement other AQR work,

  • Audit Committee Reporting – Barbara Duganier

    November 5, 2018 Published: The Caq Why is audit committee reporting a critical part of the transparency process? Get views from Barbara Duganier, audit committee chair at Buckeye Partners, L.P. and MRC Global Inc., and audit committee member at Noble Energy, Inc. “An articulation of what the audit committee is focused on is critical,” she

  • IASB to propose one-year deferral of insurance contracts Standard

    November 14, 2018 Published: IFRS The International Accounting Standards Board (Board) has today voted to propose a one-year deferral of the effective date for IFRS 17, the new insurance contracts Standard, to 2022. The Board has also decided to propose extending to 2022 the temporary exemption for insurers to apply the financial instruments Standard, IFRS

  • New PCAOB board members plan big changes

    November 13, 2018 Published: AccountingToday The Public Company Accounting Oversight Board is planning extensive changes in how it inspects firms and interacts with financial statement preparers. The PCAOB has a new slate of board members this year along with a new chairman. Two of the new board members, James Kaiser and Duane DesParte, spoke alongside

  • SEC looking at Trump proposal on quarterly financial reporting

    12 de noviembre 2018 Publicado: AccountingToday Presidente Comisión de Valores de Jay Clayton dijo la SEC está estudiando una propuesta del presidente de Trump para cambiar el ciclo trimestral de información financiera para las empresas públicas. En agosto, Trump pié, “Al hablar con algunos de los principales líderes de negocios del mundo, le pregunté qué

  • When the SEC Speaks About Cybersecurity, We’d All Better Listen

    November 12, 2018 Published: The Institute of Internal Auditors In his blog, Richard Chambers, CIA, QIAL, CGAP, CCSA, CRMA, shares his personal reflections and insights on the internal audit profession. Here’s an excerpt from his latest blog: I often find myself talking with reporters about internal audit’s role regarding risks, particularly cybersecurity. Recently, a reporter asked me

  • International Public Sector Financial Accountability Index: 2018 Status Report

    International Public Sector Financial Accountability Index: 2018 Status Report

    November 5, 2018 Published: IFAC Analyzing data captured by IFAC and CIPFA’s International Public Sector Financial Accountability Index, this 2018 Status Report analyzes information from 150 jurisdictions across the globe to develop an understanding of public sector financial reporting. The results paint a positive picture for future accrual and adoption efforts globally. Within five years, it

  • Reporting bodies announce two year alignment project

    November 7,  2018 Published: The Accountant A number of major corporate reporting bodies and standard setters have launched a two year project to drive better alignment in the corporate reporting landscape. As part of the project, Corporate Reporting Dialogue (CRD) participants have committed to driving better alignment of sustainability reporting frameworks, as well as with

  • SASB publishes industry-specific sustainability accounting standards

    November 7, 2018 Published: Journal of Accountancy The Sustainability Accounting Standards Board (SASB) on Wednesday announced that it has published what it billed as the world’s first set of industry-specific sustainability accounting standards covering financially material issues. Covering 77 industries, the standards are designed to help businesses better identify and communicate opportunities for sustaining long-term

  • FASB Revenue Recognition Resources for Private Companies

    November 5, 2018 Published: FASB   FASB Senior Project Manager Mary Mazzella discusses resources available for private companies as they look to implement the standard. https://www.fasb.org/home

  • FRC publishes thematic review findings of IFRS 9 and IFRS 15 company disclosures

    November 5, 2018 Published: The Financial Reporting Council The Financial Reporting Council (FRC) has today published two thematic reviews to help companies improve the quality of their corporate reporting in relation to the new accounting standards IFRS 9 ‘Financial Instruments’ and IFRS 15 ‘Revenue from Contracts with Customers’. The reports analyse the disclosures in a sample of companies’

  • FASB improves accounting for collaborative arrangements

    November 5, 2018 Published: FASB  The Financial Accounting Standards Board (FASB) today issued an Accounting Standards Update (ASU) that clarifies the interaction between the guidance for certain collaborative arrangements and the Revenue Recognition financial accounting and reporting standard. A collaborative arrangement is a contractual arrangement under which two or more parties actively participate in a joint

  • IASB Updates definition of “Material”

    November 1, 2018 Published: The Accountant The International Accounting Standards Board (IASB) has made amendments to its definition of what is considered material to make it easier for companies to make materiality judgements. The amendments came as a response to findings that some companies have experienced difficulties using the old definition when judging whether information

  • Disclosures by audit committees continue to rise

    November 1, 2018 Published: Journal of Accountancy Public company audit committees continue to make more information on their oversight of external auditor activities available to the public, according to a survey report released Thursday. Forty percent of S&P 500 companies disclosed their considerations in appointing the audit firm in 2018, according to the 2018 Audit Committee Transparency Barometer analysis

  • 2018 Audit Committee Transparency Barometer

    2018 Audit Committee Transparency Barometer

    November 1, 2018 2018_audit_committee_transparency_barometer_0(1) Published: The Caq The amount of information available to investors and other stakeholders on audit committee oversight of the external auditor continues to increase, according to the 2018 edition of the Audit Committee Transparency Barometer, an annual report issued jointly by the CAQ and Audit Analytics. Notable findings in this year’s report

  • Global Business Expansion Presents Opportunity for SMPs

    25 de de octubre de, 2018 Publicado: IFAC por Ben Baruch, Jefe de Política de la PYME, ACCA Mucho se ha escrito en los últimos años acerca de cómo las SMP están experimentando un creciente número de retos comerciales que interrumpen los servicios a los clientes que han basado tradicionalmente en la generación de ingresos.

  • Los desafíos globales que traerán los nuevos impuestos a los servicios digitales

    Octubre 25, 2018 Medio: Radio Pauta La discusión por la modernización tributaria ya se reactivó y con ello se acerca el inicio de los gravámenes especiales para los bienes de la nueva economía. El proyecto abre interrogantes que todavía no han sido resueltas. La discusión en torno a la modernización tributaria ya volvió al Congreso

  • Asamblea Anual 2018

    Con fecha 22 de octubre se celebró Asamblea Anual de AEChile. Las materias tratadas, según lo dispuesto en los Estatutos de la Asociación, fueron las siguientes: A.   Cuenta Anual del Presidente de la Asociación; B.   El directorio aprobó los Estados Financieros al 30 junio 2018, auditados por la firma PKF Chile y aprobó el presupuesto

  • Un Partners with the Integrated Reporting Council to inform enterprises

    October 26, 2018 Published: The Accountant By Mishelle Thurai The 2023 agenda for sustainable development was created, to provide a context to accelerate global progress towards the integration of financial and non-financial reporting. The United Nations discussed the core indicators and guidance which will be used as ‘opening benchmarks’ for businesses reporting of the Sustainable

  • FASB permits new benchmark rate for hedge accounting

    October 25, 2018 Published: Journal of Accountancy FASB on Thursday made an addition to its list of permissible benchmark interest rates for hedge accounting. FASB ASC Topic 815, Derivatives and Hedging, provides guidance on the risks associated with financial assets or liabilities that are permitted to be hedged. One of those is interest rate risk, which

  • Blockchain Adoption and Absolute Immutability

    October 22, 2018 Published: IFAC Data added to a blockchain stays on a blockchain. But what happens in those few instances where reversing or updating a transaction is insufficient because the data cannot or should not remain visible in the data history? Donny Shimamoto, Managing Director at Intraprise TechKnowlegies, shares his insights on the scenarios

  • FRC calls for improved reporting quality

    October 25, 2018 Published: The Accountant The Financial Reporting Council (FRC) has called for improvements in areas such as corporate reporting, including key accounting judgements and estimates, eliminating basic errors and how companies have applied the principles of the UK Corporate Governance Code. The FRC stated in an open letter addressed to finance directors and

  • Coso Announces Guidance Addressing Environmental, Social and Governance – related Risks

    Coso Announces Guidance Addressing Environmental, Social and Governance – related Risks

    October 23, 2018 Published: COSO the Committee of Sponsoring Organizations of the Treadway Commission (COSO) and the World Business Council for Sustainable Development (WBCSD) released today the final version of “Guidance for Applying Enterprise Risk Management (ERM) to Environmental, Social and Governance (ESG)-related Risks”. This guidance, which aligns with COSO´s widely accepted Enterprise Risk Management

  • New guidance promotes resilience amid ESG (Environmental, Social and Governance) risks

    October 23, 2018 Published: Journal of Accountancy Organizations that are confronting environmental, social, and governance-related risks can find new direction from guidance issued Tuesday by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) and the World Business Council for Sustainable Development (WBCSD). “Guidance for Applying Enterprise Risk Management (ERM) to Environmental, Social and

  • Strengthening Assurance for Non-financial Information

    October 22, 2018 Published: IFAC By: Vita Ramanauskaite, Advisor, Accountancy Europe People need reliable corporate information to decide if they will invest, buy products or sign an employment contract. Non-financial corporate information (NFI) is essential to get the full picture of a company’s performance, which financial information alone cannot provide anymore. Independent assurance enhances the

  • IASB amends definition of business in IFRS Standard on business combinations

    October 22, 2018 The International Accounting Standards Board (Board) has today issued narrow-scope amendments to IFRS 3 Business Combinations to improve the definition of a business. The amendments will help companies determine whether an acquisition made is of a business or a group of assets. The amended definition emphasises that the output of a business is to

  • Critical audit matters coming into focus

    October 1, 2018 Published: Journal of Accountacy By Russ Banham As public company auditors prepare to deliver new information in auditors’ reports, firms need to develop consistent processes for determining what should be disclosed. As auditors prepare for a new auditing standard requiring the disclosure of critical audit matters (CAMs) in their reports, they are

  • Implementation study: Business model reporting; Risk and viability reporting – Where are we now?

    Implementation study: Business model reporting; Risk and viability reporting – Where are we now?

    18 October 2018 Published: Financial Reporting Council (FRC) Investors are still looking for companies to make business model, risk and viability disclosures more useful, according to a new report from the Financial Reporting Council’s Financial Reporting Lab (the Lab). The report, Business model reporting; Risk and viability reporting – Where are we now? (PDF), considers how reporting

  • Episode 64 of “Profession in Focus” features EY’s Scott Zimmerman

    October 9, 2018 Published: TheCaq Episode 64 of “Profession in Focus” features EY Partner and innovation expert Scott Zimmerman. In conversation with the CAQ’s Catherine Ide, Zimmerman discusses data analytics, artificial intelligence, and the skillsets and mindsets that auditors will need in a profession facing disruption and transformative change. https://www.thecaq.org/episode-64-profession-focus-features-eys-scott-zimmerman

  • SEC Launches New Strategic Hub for Innovation and Financial Technology

    October 18, 2018 Published: SEC The U.S. Securities and Exchange Commission today announced the launch of the agency’s Strategic Hub for Innovation and Financial Technology (FinHub). The FinHub will serve as a resource for public engagement on the SEC’s FinTech-related issues and initiatives, such as distributed ledger technology (including digital assets), automated investment advice, digital marketplace financing, and

  • SEC Investigative Report: Public Companies Should Consider Cyber Threats When Implementing Internal Accounting Controls

    October 16, 2018 Published:SEC The Securities and Exchange Commission today issued an investigative report cautioning that public companies should consider cyber threats when implementing internal accounting controls. The report is based on the SEC Enforcement Division’s investigations of nine public companies that fell victim to cyber fraud, losing millions of dollars in the process. The SEC’s investigations

  • FASAB proposal seeks clearer materiality guidance

    October 16, 2018 Published: Journal of Accountancy By: Jeff Drew  The Federal Accounting Standards Advisory Board (FASAB) is asking for public comment on a proposal to clarify the implementation of materiality concepts in the issuance of federal financial statements. A proposed Statement of Federal Financial Accounting Concepts (SFFAC) titled Materiality, issued Monday by FASAB, would (1)

  • Sustainable finance: what’s it got to do with accountants?

    October 10, 2018 Published: Accountancy Europe By Vita Ramanauskaité and Eleni Kanelli Global goals for a greener planet To keep Europe liveable for all 512 million of us, we will need a more sustainable economy. Having committed to the UN Sustainable Development Goals and the Paris Climate Agreement, Europe needs to fulfil an ambitious agenda

  • SEC’s New Strategic Plan Puts Investors, Innovation, and Performance at Top

    October. 11, 2018 Published: SEC The Securities and Exchange Commission today announced a new strategic plan to guide the agency’s work over the next four years with a primary focus on investors, innovation, and performance. The plan’s goals reflect the agency’s commitment to its longstanding mission while leveraging the opportunities and addressing the challenges that come from

  • Guide to Using ISAs in the Audit of SMEs, Fourth Edition

    October 9, 2018 Published: IFAC Dawn McGeachy, Accounting & Assurance Partner at Colby McGeachy Professional Corporation and IFAC Small and Medium Practices Committee member, provides an update on the Guide to Using ISAs in the Audit of SMEs, Fourth Edition. This guide helps firms efficiently and proportionally apply the International Standards on Audit for small- and

  • CMA launches audit market review

    October 9, 2018 Published: The Accountant Author: Jonathan Minter The Competition and Markets Authority (CMA) has launched a study of the audit sector in the UK, to examine concerns that it is not working well for the economy or investors. It plans to issue provisional findings before Christmas with a view to completing its work

  • FRC to consider banning auditors from providing consultancy services

    October 8, 2018 Published: The Accountant Author: Joe Pickard The UK’s Financial Reporting Council (FRC) is to consider whether auditors should be banned from providing consulting work for bodies they audit as part of a wider review to prevent auditor independence from being compromised. The FRC has said it will work closely with UK’s Competition and

  • Renzo Corona: “Debemos ser proactivos y artífices del cambio constante”

    Renzo Corona: “Debemos ser proactivos y artífices del cambio constante”

    ENTREVISTA CON SOCIO PRINCIPAL DE PWC CHILE La Tercera – Pulso — El Socio Principal de PwC Chile, Renzo Corona, destaca la importancia del Premio PwC Chile Innovación 2018, y la obligación que existe hoy respecto a materias de innovación, los desafíos en el sector privado y los cambios que han existido desde que se

  • IAASB Modernizes Auditing of Accounting Estimates in Support of Audit Quality

    October 03, 2018 Published: IFAC The International Auditing and Assurance Standards Board (IAASB) today released International Standard on Auditing (ISA) 540 (Revised), its revised standard for the audit of accounting estimates and related disclosures. Banks, insurers and other financial services firms have seen revolutionary change in their accounting practices as they moved to new accounting standards

  • Cybersecurity: Three Dynamics Working in Our Favor

    October 3, 2018 Published: The Caq By: Cindy Fornelli, Executive Director at Center for Audit Quality Cybersecurity risk is one born from profound disruption. Just as the internet transformed our businesses and lives for the better, it also spawned new categories of wrongdoing and a true rogue’s gallery of cybercriminals. As once described by Securities and Exchange

  • Enhancing Audit Documentation

    October 2, 2018 Published: IFAC Ed Fox, Global Head–Audit Quality at Grant Thornton International, discusses the findings from external regulators on the quality of audit documentation and provides his recommendations on how firms can address re-performance requirements, timing and the thought process of the auditor.  http://www.ifac.org/global-knowledge-gateway/audit-assurance/discussion/enhancing-audit-documentation

  • Best Practice Principles for Audit Tendering

    October 2, 2018 Published: IFAC by Alice Telfer, Head of Business and Public Sector, ICAS and David Wood, Senior Policy Director, ICAS What are best practices for audit tendering? The Institute of Chartered Accountants of Scotland (ICAS) has distilled good practice principles on audit tendering for private companies and public sector organizations, including publicly funded, third sector and not-for-profit organizations. The

  • Coping with Disruption: Lessons from the PCAOB

    October 2, 2018 Published: TheCaq by Cindy Fornelli Worried about disruption? Take a cue from the PCAOB, which is proceeding strategically and deliberately in a financial reporting system poised for transformative change. Leaders in accounting and auditing don’t tend to downplay the potential for emerging technology and other disruptive forces to shape the profession and

  • IOSCO Launches World Investor Week 2018 to Promote Investor Education and Protection

    October 1, 2018 Published: IOSCO The International Organization of Securities Commissions (IOSCO) today launched its second annual World Investor Week (WIW), following its success last year at attracting more than one thousand financial organizations to showcase their initiatives for promoting investor education and protection across the globe. In Japan, where financial markets are the first

  • Stakeholders Have Last Word on Whether Internal Audit Adds Value

    October 01, 2018 Published: Internal Auditor By: Richard Chambers If you were to ask your stakeholders to describe how internal auditing adds value, you might receive a different response from each person you talked to. The CEO might focus on recommendations for improving efficiency, while the chief financial officer might describe audit value in terms

  • GASB proposes changes in government financial reports

    September 28 2018 Published: AccountingToday The Governmental Accounting Standards Board has released two documents proposing a number of improvements in how state and local governments should report information on their financial statements and recognize transactions. In one of the documents, Preliminary Views, Financial Reporting Model Improvements, GASB suggests several enhancements in the financial reporting model for

  • Superando los desafíos de las empresas familiares

    Superando los desafíos de las empresas familiares

    CRISTIÁN LEFEVRE PRESIDENTE DE EY CHILE El Diario Financiero Contar con un negocio saludable, un crecimiento potencial a largo plazo, una familia cohesionada, y estar orgullosos del legado, es probablemente el ideal de muchas empresas familiares, pero para esto deben superar diversos retos. Aun cuando las raíces familiares sean profundas, eso no siempre se traduce

  • The G20 Presidency and international organizations support IOSCO World Investor Week

    26 September 2018 Published: IOSCO In addition to the Argentine G20 Presidency, various important multilateral institutions have endorsed the second annual World Investor Week (WIW), organized by the International Organization of Securities Commissions (IOSCO) to raise awareness of the importance of investor education and protection around the world. Support for this year´s WIW includes the

  • Artificial Intelligence: Opportunities, Risks and Implications

    14 Sep 2018 Published: Institute of Singapure Chartered Accountants (ISCA) The rapid developments in AI have engendered high expectations of the benefits it can deliver for business and for society at large. Yet there are concerns about AI replacing human input and thus displacing jobs. In this publication titled “Artificial Intelligence: Opportunities, Risks and Implications”,

  • Voices The potential of blockchain: What accounting execs need to know

    September 21, 2018 Published: Accounting Today In its 2017 Hype Cycle for Emerging Technologies, Gartner estimates it will take five to 10 years before there’s mainstream adoption of blockchain. However, major players in the financial services industry are already seeing benefits from the technology, using blockchain as a game-changing “trust protocol” for financial transactions and keep

  • IOSCO guidance addresses conflicts of interest and conduct risks in equity capital raising

    September 18, 2018 Published: IOSCO The Board of the International Organization of Securities Commissions (IOSCO) today published guidance to help its members address conflicts of interest and associated misconduct risks that may arise and undermine the equity capital raising process. Conflicts of interest and associated conduct risks stemming from the role of intermediaries can harm

  • Proposed update to the IFRS Taxonomy 2018 on IFRS 13 common practice

    September 20, 2018 Published: IFRS The IFRS Foundation has today published IFRS Taxonomy 2018—Proposed Update 1 Common Practice (IFRS 13 Fair Value Measurement) for public consultation. Those proposed changes result from the analysis of reporting practice relating to the disclosure requirements in IFRS 13 Fair Value Measurement. The common practice elements in the IFRS Taxonomy reflect disclosures that companies applying IFRS

  • New Report Outlines Keys to Sound Governance

    Distinct Roles of Internal Audit & Finance Function Provide Crucial Support September 18, 2018 Published: The Institute of Internal Auditors (IIA)  Effective governance is the outcome of a mosaic of organizational policies, processes, and cross-functional interactions, according to experts featured in a new report from The Institute of Internal Auditors (IIA) and IFAC (the International Federation of Accountants).

  • New Report Outlines Keys to Sound Governance

    New Report Outlines Keys to Sound Governance

    Distinct Roles of Internal Audit & Finance Function Provide Crucial Support September 18, 2018 Published: The Institute of Internal Auditors (IIA)  Effective governance is the outcome of a mosaic of organizational policies, processes, and cross-functional interactions, according to experts featured in a new report from The Institute of Internal Auditors (IIA) and IFAC (the International Federation of Accountants).

  • Investors trust auditors, but confidence in U.S. markets drops

    September 18, 2018 Published: Journal of Accountancy Public company auditors remain the group investors trust most to protect their interests, but investors’ confidence in U.S. capital markets and U.S. public companies has dropped in the past year, according to a Center for Audit Quality (CAQ) survey report released Tuesday. Respondents to the Main Street Investor survey kept

  • Cyber Security and the Accounting Profession

    Published: AICPA Sue Coffey, CPA, CGMA, Executive Vice President – Public Practice, AICPA Amy Pawlicki, Directtor – Business Reporting, Assurance & Advisory Services – AICPA   Ver video     https://www.aicpa.org/press.html

  • PCAOB Enters Into Cooperative Agreement with Austrian Audit Regulator

    Washington, Sept. 13, 2018 Published: PCAOB The Public Company Accounting Oversight Board today announced that it has entered into a cooperative agreement with the Audit Oversight Body of Austria. This agreement provides a framework for joint inspections in the oversight of audit firms subject to the regulatory jurisdictions of both organizations. It also allows for the exchange

  • Cybersecurity risk: time for auditors to take heed?

    September 10, 2018 Published: Chartered Accountants Worldwide The global interest in cybersecurity is growing. As we move into the cyber age, technology has become a huge part of both our everyday lives and today’s business environment, as more and more businesses increase their online presence and digital exposure by leveraging technology for almost every aspect

  • Audit Quality Indicators

    September 7, 2018 Published: IFAC Quality control is about controlling the quality of what is delivered. Sue Almond, Global Head of Assurance at Grant Thornton International, shares insights on Grant Thornton’s work with audit quality indicators, which allow you to take proactive measures during an audit, intervene early and ensure the audit goes as planned.

  • The International Code of Ethics for Professional Accountants: Key Areas of Focus for SMEs and SMPs

    In early April 2018, the IESBA released a completely rewritten and revamped Code of Ethics for professional accountants (PAs). Renamed “International Code of Ethics for Professional Accountants (including International Independence Standards) (“the Code” or “the revised and restructured Code”), the Code will become effective in June 2019. It packages all substantive advancements in ethics and independence

  • Enhanced Audit Reporting – The profession in APAC calls for better awareness and education

    September 7, 2018 Published: Confederation of Asian and Pacific Accountants (CAPA) In the first quarter of 2015, the International Auditing and Assurance Standards Board (IAASB) released its new and revised auditor reporting standards. The most significant enhancement is the new requirement for auditors to communicate “Key Audit Matters” (KAMs), described by the IAASB as ‘those matters that

  • Internal Audit Foundation Releases New Internal Audit Activity Research Report

    September 9, 2018 Published: The Institute of Internal Auditors Aligning Internal Audit Activities and Scope to Organizational Strategy – How the Business Environment and Organizational Strategy Impact Internal Audit The Internal Audit Foundation announced today the release of a new research report, Aligning Internal Audit Activities and Scope to Organizational Strategy – How the Business Environment

  • Presentación “Chilean securities and insurance landscape and regulatory roadmap” – Joaquín Cortez

    Presentación “Chilean securities and insurance landscape and regulatory roadmap” – Joaquín Cortez

    7 de septiembre de 2018 Publicado: CMF Del seminario: Chileday (07/09/2018)   Descargar PDF (2.7 mb)   Chilean securities and insurance landscape and regulatory roadmap- JCortez

  • Professional Skepticism: The Heart of Audit

    September 6, 2018 Published: IFAC By: Katharine Bagshaw, Manager, Auditing Standards, ICAEW Most of us who trained as auditors never really lose the urge to question numbers. The temptation to ask on what basis they were calculated, to generally prod and poke around, and to make sure that they are what they appear to be,

  • Financial system risk is elevated and global standards are essential in managing cross-border infrastructure investment

    September 3, 2018 Published: OECD A new OECD report, the 2018 Business and Finance Outlook, highlights a number of major risks having the potential to disrupt global economic growth. It notes that the gradual normalisation of monetary policy in an environment of growing debt will be a major test of whether the Basel III regulatory reforms

  • When to change the partner compensation plan

    September 6, 2018 Published: Journal of Accountancy Featuring Allan Koltin, CPA, CGMA, CEO of Koltin Consulting Group   Ver Video   https://www.journalofaccountancy.com/videos/changing-partner-compensation-plans.html

  • Audit Chiefs see Cybersecurity as biggest risk to business

    September 4, 2018 Published: The Accountant By: Joe Pickard Cybersecurity is the biggest risk to organisations across the private and public sector, according to research conducted by Risk in Focus, a collaborative report between seven European institutes of internal auditors. Over two-thirds (68%) of the 300 chief internal auditors questioned said cybersecurity is one of

  • FASB clarifies accounting for grants and contributions

    September 1, 2018 Published: Journal of Accountancy The board also proposed a new definition of collections and issued clarifications on lease accounting and other issues. FASB issued an Accounting Standards Update (ASU) clarifying when a transfer of cash or other assets received and made, primarily by not-for-profits, qualifies as a contribution or an exchange transaction. The ASU,

  • Checking risk oversight can inform audits

    September 1, 2018 Published: Journal of Accountancy By Mark Beasley, CPA, Ph.D. A strong or weak commitment to addressing enterprisewide risks may be an indicator of management’s focus on financial reporting risks. Enterprisewide risk management systems have expanded greatly in recent years, primarily as a tool to help management and the board proactively deal with

  • GAO issues revised government auditing standards

    September 1, 2018 Published: Journal of Accountancy Changes to the Yellow Book reinforce the principles of transparency and accountability. Revised standards issued by the U.S. Government Accountability Office (GAO) are designed to provide a framework for high-qualitygovernmental audits, which include audits of government entities and entities receiving government awards. In a transmittal letter to the standards, U.S.

  • FASB updates accounting for cloud computing costs

    August 29 2018 Published: AccountingToday The Financial Accounting Standards Board released an accounting standards update Wednesday aimed at decreasing the complexity of accounting for costs of implementing a cloud computing service arrangement. The update emerged from a consensus of FASB’s Emerging Issues Task Force that was announced in June (see EITF reaches consensus on accounting for cloud

  • Episode 61 of “Profession in Focus” Features Independent Director Jan Babiak

    August 22, 2018 Published: TheCaq Episode 61 of “Profession in Focus” features Jan Babiak, who serves on the boards of Walgreens Boots Alliance, Inc., Bank of Montreal, and Euromoney Institutional Investors. Babiak offers insights on the benefits of enhancing audit committee disclosure, the new auditor’s reporting model, audit committee “scope creep,” and how to think

  • FASB Improves the effectiveness of Disclosures in Notes to Financial Statements

    August 28, 2018 Published: FASB The Financial Accounting Standards Board (FASB) today issued two changes to the FASB’s conceptual framework and two Accounting Standards Updates (ASUs) that improve the effectiveness of disclosures in notes to financial statements. “The two changes to our Conceptual Framework will help the Board identify and evaluate disclosure requirements in accounting standards and

  • Updated guidance highlights key changes in the auditor’s report

    August 27, 2018 Published: AccountingToday Updated staff guidance issued by the PCAOB provides practitioners with information on Auditing Standard 3101, The Auditor’s Report on an Audit of Financial Statements When the Auditor Expresses an Unqualified Opinion. The updates build on previous guidance that was issued on Dec. 28, 2017. Issues addressed in the update include: – New information

  • FASB change helps banks adjust to credit loss standard

    August 24 2018 Published: AccountingToday The Financial Accounting Standards Board’s proposed changes to the credit loss standard promise to help private banks and credit unions deal with the transition on a more comfortable timeline. FASB released a proposed accounting standards update this week to amend the transition requirements and scope of the credit losses standard (see FASB proposes

  • Las Big Four analizan algunos de los elementos de la Reforma

    Las Big Four analizan algunos de los elementos de la Reforma

    La Tercera-Pulso 26 de agosto de 2018 – EY: incentivo a adquisición de viviendas ‘beneficiará a todo el país’ Macarena Navarrete, socia principal de EY Chile, destaca los alcances de la medida que contempla el proyecto de modernización tributaria, que incentiva la adquisición de viviendas por parte de la clase media, elevando de 2.000 UF

  • SABS: Quality Trumps Locations for Sustainability Disclosure

    23 Aug 2018 Published: The Accountant The location of sustainability data disclosures is not as important as ensuring the data is of sufficient quality, The Sustainability Accounting Standards Board (SASB) has found. Prior to the release of its complete set of codified standards on financially material topics later this year, the SASB consulted with companies

  • Presentación “Desafíos en ciberseguridad para el sistema financiero” – Rosario Celedón

    Presentación “Desafíos en ciberseguridad para el sistema financiero” – Rosario Celedón

    23 de agosto de 2018 Publicado: CMF Descargar PDF (1.3 mb)  

  • We’re Part of the Solution: The Global Accountancy Profession Making a Dent in Corruption

    August 15, 2018 Published: IFAC by Amir Ghandar, Deputy Director, Public Policy and Regulation, IFAC Recently in Buenos Aires, alongside the Group of Twenty (G20) Finance Ministers’ and Central Bank Governors Summit, IFAC hosted a high-level anti-corruption event with the Business 20 (B20) and IFAC member organization, Federación Argentina de Consejos Profesionales de Ciencias Económicas (FACPCE).

  • Three factors in effective firm management

    August 16, 2018 Published: Journal of Accountancy Allan Koltin, CPA, CGMA, CEO of Koltin Consulting Group, outlines the best pathways to develop strong and efficient management of your CPA firm. Ver video   https://www.journalofaccountancy.com/videos/effective-cpa-firm-management.html

  • PCAOB Posts Updated Staff Guidance on Changes to the Auditor’s Report

    PCAOB Posts Updated Staff Guidance on Changes to the Auditor’s Report

    August 23, 2018 Published: PCAOB The Public Company Accounting Oversight Board today published updated “Staff Guidance on Changes to the Auditor’s Report (updated August 23, 2018)”. A summary of the updates can be found on Page 1. Descargar pdf (451 KB)  

  • Presentación del Ministro de Hacienda sobre el proyecto de Modernización Tributaria

    Presentación del Ministro de Hacienda sobre el proyecto de Modernización Tributaria

    22 de agosto de 2018 Publicación: Ministerio de Hacienda   Presentación realizada por el Ministro de Hacienda, Felipe Larraín, para los medios de comunicación, acerca de los principales elementos del proyecto de ley de Modernización Tributaria.   Descargar PDF (652 kb)     Presentación Ministro MT 22-08-18http://www.hacienda.cl/documentos/publicaciones.html

  • Proposal would withdraw inter-entity cost guidance

    August 21, 2018 Published: Journal of Accountancy The Accounting and Auditing Policy Committee of the Federal Accounting Standards Advisory Board (FASAB) is proposing to withdraw one of its technical releases on accounting for inter-entity costs for federal government reporting entities. Technical Release 8, Clarification of Standards Relating to Inter-Entity Costs, is no longer consistent with Statement of Federal

  • 3 areas of top concern in broker- dealer audits

    August 20, 2018 Published: Journal of Accountancy Independence issues identified in the PCAOB’s 2017 staff inspections fell compared with the previous year, according to a report the board released Monday. But the percentage of firms found to have deficiencies in their audits dropped just slightly, to 91% (68 of 75), from 97% in the previous year. The

  • SEC Adopts Amendments to Simplify and Update Disclosure Requirements

    August 17, 2018 Published: SEC The Securities and Exchange Commission today announced that it has voted to adopt amendments to certain disclosure requirements that have become duplicative, overlapping, or outdated in light of other Commission disclosure requirements, U.S. Generally Accepted Accounting Principles (GAAP), or changes in the information environment. The amendments are intended to simplify and

  • IPSAS 41 Aims to improve Financial Instruments Reporting

    August 15, 2018 Published: The Accountant The International Public Sector Accounting Standards Board (IPSASB) released IPSAS 41 which aims to improve the relevance of information for financial assets and financial liabilities. IPSAS 41 Financial Instruments establishes new requirements for classifying, recognising and measuring financial instruments to replace those that exist in IPSAS 29, Financial Instruments: Recognition

  • IESBA: Professional Skepticism – Meeting Public Expectations

    IESBA: Professional Skepticism – Meeting Public Expectations

    August 15, 2018 Published: The Caq In this August 2018 comment letter, the CAQ provides input on a Consultation Paper, “Professional Skepticism – Meeting Public Expectations,” from the International Ethics Standards Board for Accountants (IESBA). Emphasizing the importance of professional skepticism and judgment to audit quality, the CAQ’s letter offers IESBA four high-level recommendations related

  • FASB Accounting Standards Update: Insurance

    August 15, 2018 Published: FASB Ver Video       https://players.brightcove.net/2205030511001/default_default/index.html?videoId=5817578763001 FASB Member Christine Botosan and staff discuss a new standard for insurance companies that issue long-duration contracts, such as life insurance, disability income, long-term care, and annuities.

  • FASB Improves Accounting Guidance for Insurance Companies that Issue Long-Duration Contracts

    August 15, 2018 Published: FASB The Financial Accounting Standards Board (FASB) today issued an Accounting Standards Update (ASU) that improves financial reporting for insurance companies that issue long-duration contracts, such as life insurance, disability income, long-term care, and annuities. “The new ASU provides investors and other financial statement users with better and more timely and

  • FASB proposes narrow-scope improvements to accounting for lessors

    August 13, 2018 Published: FASB The Financial Accounting Standards Board (FASB) today issued a proposal that would reduce costs and ease implementation of the Leases standard for financial statement preparers. The proposal would also clarify a specific requirement in the standard related to lessor accounting. Stakeholders are encouraged to review and provide comment on the proposal by

  • Tips for teaching accounting ethics

    August 14, 2018 Published: Journal of Accountancy By Lea Hart Considering accountants deal with the intimate financial details of individuals and businesses, it’s important that they abide by strict ethical standards. “Ethics are the ‘why’ before the ‘how’ — why we do accounting; why accounting is important to society.” said Jeff Hillard, CPA, DM, associate

  • Discussion Paper Financial Instruments with Characteristics of Equity

    Discussion Paper Financial Instruments with Characteristics of Equity

    August 13, 2018 Published: IFRS The International Accounting Standards Board (Board) published the Discussion Paper Financial Instruments with Characteristics of Equity in June 2018. The Discussion Paper sets out the Board’s preferred approach to classification of a financial instrument, from the perspective of the issuer, as a financial liability or an equity instrument. The Discussion Paper also explores

  • PCAOB Seeks Public Comment on its Draft Five-Year Strategic Plan

    Washington, DC, Aug. 10, 2018 Published: PCAOB The Public Company Accounting Oversight Board today released a draft of its five-year strategic plan, for the first time inviting public comment on its areas of strategic focus in fulfilling its mission to protect investors and the public interest through high quality audit reports. After its own careful study

  • FASB Hedging Updates

    Published: FASB Members of the FASB hedge accounting team discuss the benefits of the new standard for investors and other financial statement users. https://www.fasb.org/home

  • IIRC offers research database on integrated reporting

    August 08, 2018 Published: AccountingToday The International Integrated Reporting Council unveiled an <IR> Academic Database on Wednesday, featuring more than 200 academic studies on the ramifications of integrated reporting, as well as discussing some of the best practices emerging in the field. Integrated reporting combines financial reporting and sustainability reporting, along with information about the governance, strategy,

  • FSB and standard-setting bodies consult on effects of reforms on incentives to centrally clear over-the-counter derivatives

    August 7, 2018 Published: IOSCO The Financial Stability Board (FSB), the Basel Committee on Banking Supervision (BCBS), the Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) published today a consultative document on Incentives to centrally clear over-the-counter (OTC) derivatives. Centrally clearing standardised OTC derivatives is a pillar of

  • Beyond robotics: How AI can help improve the audit process

    Aug 01, 2018 Published: AICPA by Guest Blogger The CPA profession has been hearing a lot about Robotic Process Automation (RPA), a software technology that can help auditors sift through structured data. But RPA can only do so much. Abigail Zhang, a PhD student in the Department of Accounting and Information Systems at Rutgers Business

  • GASB proposed Improvements to Reporting of Conduit Debt Obligations

    August 6, 2018 Published: GASB The Governmental Accounting Standards Board (GASB) has proposed revised guidance that would provide a single method for government issuers to report conduit debt obligations and related obligations. This proposed guidance would eliminate diversity in practice associated with these issues. Conduit debt obligations are debt instruments issued by a state or local government

  • IFAC and IAESB to Transition Standard-Setting Board to Different Model

    Aug 3, 2018 Published: IFAC IFAC (International Federation of Accountants) and the International Accounting Education Standards Board (IAESB) today announce a new path forward for global accountancy education and professional development. To remain relevant in an environment of rapid change, professional accountants increasingly must demonstrate skills beyond today’s typically-recognized accountancy competencies. The IAESB and IFAC

  • Anti-Fraud Collaboration Webcast: Non-GAAP Measures and Fraud Risk (July 2018)

    July 18, 2018 Published: The Caq Featuring a panel of top experts, this July 2018 webcast from the Anti-Fraud Collaboration explored the potential implications for fraud risk when it comes to the use of financial measures, presented outside the audited financial statements, that do not conform to US Generally Accepted Accounting Principles (GAAP).   

  • Start-Ups, la inversión en América Latina fue de USD 1000 millones

    1 de agosto de 2018 Publicado: Inversor Latam Esta suma es el doble de lo que se registró el año anterior. El año pasado 25 inversores globales hicieron su debut en la región, entre ellos Rethink Education, SoftBank, Telstra Ventures y The Rise Fund. La Asociación Latinoamericana de Capital Privado y Capital de Riesgo (LAVCA), informó que

  • Get a Handle on Critical Audit Matters

    July 30, 2018 Published: The Caq Cindy Fornelli is the Executive Director of the Center for Audit Quality Last year, following approval by the Securities and Exchange Commission, the Public Company Accounting Oversight Board (PCAOB) adopted a new auditing standard that significantly changes the auditor’s report—with equally significant implications for investors, audit committees and others.

  • FRC pushes Non-Financial Reporting in revised Strategic Report Guidance

    July 31, 2018 Published: The Accountant Author: Joe Pickard The UK’s Financial Reporting Council (FRC) has revised its Guidance on the Strategic Report to recognise the increasing importance of non-financial reporting. The guidance encourages companies to consider wider stakeholders and broader matters that impact performance over the longer term. The FRC said it believes ‘the integration of

  • FASB attempts to make lease accounting implementation easier

    By Ken Tysiac July 30, 2018 FASB has issued targeted changes to its new lease accounting standard that are designed to make implementation easier and reduce costs for financial statement preparers. Accounting Standards Update (ASU) No. 2018-11, Leases (Topic 842): Targeted Improvements, released Monday, makes transition requirements less burdensome and provides lessors with a practical

  • Exposure Draft, ISA 315 (Revised), Identifying and Assessing the Risks of Material Misstatement

    Published: Jul 16, 2018, 182 Pages, English, Comments due by: Nov 02, 2018 To ensure that International Standards on Auditing continue to form the basis for high-quality, valuable and relevant global audits, the IAASB Exposure Draft, ISA 315 (Revised), Identifying and Assessing the Risks of Material Misstatement, proposes more robust requirements and improved guidance to: – Drive consistent and effective identification

  • Tips for understanding critical audit matters

    By Ken Tysiac ( Journal of Accountancy editor) July 24, 2018 Auditors soon will be able to provide more helpful information in their audit reports by communicating “critical audit matters” in addition to the pass/fail opinion on the financial statements. Critical audit matters are the backbone of PCAOB Auditing Standard 3101, The Auditor’s Report on an Audit

  • How to motivate and retain talent

    July 19, 2018 Published: Journal of Accountancy Jacquelyn H. Tracy, CPA, CGMA, a founding partner with Mandel & Tracy LLC, discusses recruitment mistakes and ways to retain talent through motivation. Ver video     https://www.journalofaccountancy.com/videos/how-to-motivate-employees.html

  • Five Red Flags Your Internal Audit Department Is Losing Stakeholder Support

    july 16, 2018 by Richard Chambers Early in my career, I took for granted that internal auditing existed simply because it was necessary. Very rarely did anyone use terms like customers or stakeholders. I don’t remember ever hearing those terms during my first decade in the business. I knew that regulations of the U.S. Army,

  • Critical Audit Matters: Key Concepts and FAQs for Audit Committees, Investors, and Other Users of Financial Statements

    Critical Audit Matters: Key Concepts and FAQs for Audit Committees, Investors, and Other Users of Financial Statements

    July 24 , Center for Audit Quality This CAQ publication is designed to promote understanding of critical audit matters (CAMs), a new component of the auditor’s report required by a standard adopted in 2017 by the Public Company Accounting Oversight Board. The publication provides definitions, key concepts, implementation deadlines, frequently asked questions about CAMs, and

  • Protecting against claims of failure to detect theft

    By Samiha Khanna July 1, 2018 Professional liability claim data for claims asserted against CPA firms in the AICPA Professional Liability Insurance Program in 2017 show that — as in previous years — many clients believe that a CPA’s duties include spotting evidence of theft or fraud in company records, regardless of the type of service

  • FASB issues 16 minor amendments to lease accounting standard

    July 19, 2018 Published: Journal of Accountancy   FASB issued 16 minor amendments to its new lease accounting standard Thursday, clarifying rules and correcting application of guidance that the board had not intended when it created the standard. The lease accounting standard (codified in Topic 842, Leases) was issued on Feb. 25, 2016, and takes effect for public

  • Overview of the Discussion Paper Financial Instruments with Characteristics of Equity

    July 16, 2018 Published: IFRS In this webcast, International Accounting Standards Board (Board) Technical Director Kumar Dasgupta provides an overview of the Discussion Paper Financial Instruments with Characteristics of Equity that was published in June 2018. The Discussion Paper sets out the Board’s preferred approach to classification of a financial instrument from the perspective of the issuer as

  • IFAC and IBA sign Anti-Corruption Mandate

    July 19, 2018 Published: The Accountant The International Federation of Accountants (IFAC) and the International Bar Association (IBA) have signed an Anti-Corruption Mandate. Collaboration on the Mandate is a joint effort of the two organisations to help fight corruption, bribery, tax evasion, money laundering, and the financing of international terrorism. It comes ahead of a

  • GAO issues revised Yellow Book standards for government auditors

    July 17, 2018 Published: Journal of Accountancy Revised standards issued Tuesday by the U.S. Government Accountability Office (GAO) are designed to provide a framework for high-quality governmental audits, which include audits of government entities and entities receiving government awards. In a transmittal letter to the standards, U.S. Comptroller Gene Dodaro states that the new generally accepted

  • IAASB proposes Audit Risk Assessment Standards Revision

    July 17, 2018 Published: The Accountant By: Jonathan Minter The International Auditing and Assurance Standards Board (IAASB) has moved to update its standard on audit risk assessments, to take into account developments arising from IT. In an exposure draft for the proposed International Standard of Auditing 315 (revised) (ISA-315), the IAASB said that as IT

  • Public Sector Generation Next: Clear Career Paths Are Key

    July 16,2018 Published: IFAC By: Alex Metcalfe, Head of Public Sector Policy, ACCA Generation Next public sector workers are a dynamic group. They are the most optimistic about technological change and have significant entrepreneurial drive. They also believe that their finance background provides an excellent foundation for their future careers. The ACCA’s most recent sector-specific

  • OECD economic scenarios to 2060 illustrate the long-run benefits of structural reforms

    July 12, 2018 Published: OECD Policy choices made today can have important positive effects on future living standards, according to new long-term economic scenarios released by the OECD. The Long View: Scenarios for the World Economy to 2060 extends the usual short-run horizon of economic forecasters to better illustrate the potential benefits of reforms to education,

  • GASB: 2018 Look Ahead

    July 2018 Published: Governmental Accounting Standards Board (GASB) In this brief video, Dave Vaudt, GASB Chairman, and David Bean, GASB Director of Research and Technical Activities, preview what’s coming up and what to look for in the second half of 2018. Ver video       Link: https://www.gasb.org/jsp/GASB/Page/GASBSectionPage&cid=1176158425011

  • Mindset, Behaviors, Knowledge & Skills: Building a Roadmap for the Auditor of the Future

    Mindset, Behaviors, Knowledge & Skills: Building a Roadmap for the Auditor of the Future

    July 12, 2018 Published: The Caq The CAQ, in collaboration with the leading public company accounting firms and the American Institute of CPAs, developed this roadmap to help students understand what they will need to become successful auditors. Designed for both students and educators, this roadmap is a hands-on guide that outlines the mindsets, behaviors,

  • Presentación CMF “PdL Consejo Fiscal Autónomo, la estabilidad financiera y rol de la CMF” – Expositores: Kevin Cowan y Christian Larraín

    Presentación CMF “PdL Consejo Fiscal Autónomo, la estabilidad financiera y rol de la CMF” – Expositores: Kevin Cowan y Christian Larraín

    11 de julio de 2018 PdL Consejo Fiscal Autónomo, la estabilidad financiera y el rol de la CMF 11-07-18 Del seminario: Comisión de Hacienda de la Cámara de Diputados (11/07/2018)   Descargar PDF (1 mb)

  • Avoid these common not-for-profit financial statement mistakes

    July 10, 2018 Published: Journal of Accountancy At times during audit season, not-for-profit financial statement auditors may feel like medical professionals in January. They’re extremely busy, and many of the “patients” receive the same diagnosis. “It’s like flu season,” said Dennis Morrone, CPA, the national partner-in-charge of audit services in Grant Thornton’s not-for-profit and higher

  • Supporting IFRS 17 implementation: Insurance contracts issued by mutual entities

    Supporting IFRS 17 implementation: Insurance contracts issued by mutual entities

    July 10, 2018 Published: IFRS As part of our activities to support the implementation of IFRS 17 Insurance Contracts, we have today published educational materials for insurance contracts issued by mutual entities. This 12 page document covers: – what a mutual entity is; – accounting for contracts issued by a mutual entity; and – whether a

  • FECU SOCIAL

    FECU SOCIAL

    9 de julio 2018 Aproximadamente 200 entidades sin fines de lucro orientadas a la superación de la pobreza y exclusión social, que operan en nuestro país, participan a na Comunidad de Organizaciones Solidarias (COS) http://comunidad-org.cl, organización que desarrollo un formato estandarizado de Memoria Anual y Estados Financieros denominada “FECU SOCIAL”. Asimismo, desarrolló un Manual de

  • What Is A Blockchain Operating System?

    July 3, 2018 Published: FORBES By: Adrian Bridgwater Blockchain, as more and more people are finding out, is a ledger system for keeping records. More specifically, blockchain is an open (i.e. public, not held inside one company, unless it’s a private blockchain) distributed (it exists on many computers) immutable (it can not be altered, in

  • Scepticism: the practitioners’ take

    Scepticism: the practitioners’ take

    July 9, 2018 Published:  The Institute of Chartered Accountants in England and Wales (ICAEW)  Professional scepticism is central to the work of auditors and yet audit regulators and others continue to express concerns that auditors are not sufficiently sceptical. This report explores what auditors and other stakeholders think about how it can be enhanced and

  • Feature: Reducing the gap between insurance and other industries

    July 5, 2018 Published: IFRS By Gary Kabureck, Member, International Accounting Standards Board Existing accounting practices in the insurance industry are widely perceived as opaque and inconsistent. For companies applying IFRS Standards, the accounting for insurance contracts currently differs significantly from the accounting for other contracts. This diversity poses unnecessary difficulties for potential investors. In 2017,

  • Pregunta al Experto: La coexistencia del régimen semi integrado y el de renta atribuida

    5 de julio 2018 Publicado: DF El socio líder de Tax & Legal de KPMG en Chile, Francisco Lyon, explica los regímenes semi integrado y de renta atribuida que actualmente coexisten, luego de la Reforma Tributaria, pero propone simplificar ambos en uno solo, con algunos regímenes excepcionales que puedan complementar al sistema tributario.

  • ICAEW launches AI / Big Data scheme for corporate finance transactions

    July 4, 2018 Published: The Institute of Chartered Accountants in England and Wales (ICAEW) Wednesday 4 July 2018, A new initiative to use Artificial Intelligence and Big Data in corporate finance transaction services has been launched by ICAEW. Michael Izza, Chief Executive of the accountancy and finance body, announced the scheme today at ICAEW’s innovation

  • IOSCO seeks feedback on proposed good practices for commodities storage and delivery

    July 04, 2018 Published: IOSCO The Board of the International Organization of Securities Commissions (IOSCO) is requesting feedback on proposed good or sound practices to assist relevant storage infrastructures and their oversight bodies to identify and address issues that could affect commodity derivatives’ pricing and in turn affect market integrity and efficiency. In the report

  • SEC: Auditor Independence with Respect to Certain Loans or Debtor-Creditor Relationships

    July 3, 2018 Published: The Caq In this letter to the US Securities and Exchange Commission (SEC), the CAQ provides views on an SEC proposal to improve certain aspects of Rule 2-01(c)(1)(ii)(A) of Regulation S-X, referred to as the “Loan Provision.” The CAQ notes that the Loan Provision, as conceived, was designed to curb potential

  • IFRS for SMEs modules

    July 2, 2018 Published: IFAC – IFRS The IFRS Foundation is developing stand-alone modules, one for each section of the 2015 version of the IFRS for SMEs Standard. These modules are designed to provide support to anyone learning about, applying, or reading financial statements prepared using, the IFRS for SMEs Standard. Each module includes the following: – requirements—the full

  • Galería de Imágenes Charla del abogado Germán Concha: “Obligación de Denunciar y Auditores Externos”

  • Monitoring Group Summary of Feedback

    Monitoring Group Summary of Feedback

    May 31, 2018 Published: Monitoring Group The Monitoring Group has today published its Summary of Feedback of responses received to its earlier consultation Strengthening the Governance and Oversight of the International Audit-Related Standard-Setting Boards in the Public Interest. Responses to the Monitoring Group’s consultation on options for reform of auditrelated standard setting, show widespread support

  • Charla del abogado Germán Concha: “Obligación de Denunciar y Auditores Externos”

    Con fecha 27 de junio 2018, el directorio de la Asociación de Auditores Externos de Chile A.G., invitó a participar a cada socio / director de auditoría a Charla dictada por el abogado Germán Concha sobre “Obligación de Denunciar y Auditores Externos” El evento se realizó en premisas de EY, facilitadas gentilmente a AEChile” 

  • Foundation for Economies Worldwide = Small Business

    June 27, 2018 Published: IFAC By: Christopher Arnold and Manoj Fadnis Most organizations worldwide are small by size and the importance of small-and medium-sized enterprises (SMEs) to both developed and developing economies and societies is indisputable. According to the World Trade Organization, (World Trade Report 2016 Leveling the Trading Field for SMEs) SMEs represent over 90 per

  • Grants and Contracts

    June 21, 2018 Published: FASB Board Member Christine Botosan and FASB staff discuss the new standard on Not-for-Profit Grants and Contracts. Ver Video https://players.brightcove.net/2205030511001/default_default/index.html?videoId=5799415855001

  • Transforming the impact of financial information: the role of technology

    June 26, 2018 Published: IFRS Are traditional metrics still relevant? On 5 June 2018, CFA Institute and the IFRS Foundation hosted a panel debate at the Guildhall in London, asking whether traditional metrics are still relevant amidst rapid technological advancements. Moderator Jane Fuller captures some of the key points made during the discussion. If investing

  • IOSCO: Consultation Report on Good Practices for Audit Committees in Supporting Audit Quality

    IOSCO: Consultation Report on Good Practices for Audit Committees in Supporting Audit Quality

    June 26, 2018 Published: The Caq In this letter to the International Organization of Securities Commissions (IOSCO), the CAQ expresses its support for IOSCO’s view that the quality of financial reports, supported by an independent external audit, is key to confident and informed investors and markets. “Audit committees play an essential role in protecting the

  • The Changing Role of Accounting in Enterprise Performance Management

    June 26, 2018 Published: IFAC By: Larry White Accounting and the finance function have traditionally been identified as leaders in providing information for enterprise performance management (EPM).  But times are changing. Can performance ultimately be measured in financial reports?   Don’t financial reports guide management and the capital markets?  Isn’t the financial statement audit the ultimate

  • Identifying the Role of the Finance Function in Enterprise Performance Management

    Identifying the Role of the Finance Function in Enterprise Performance Management

    Jun 04, 2018 Published: IFAC For finance professionals to be viewed as business partners, they must contribute effectively to enterprise performance management (EPM) beyond traditional financial reporting and financial systems. This resource identifies why and how the finance function must evolve to support EPM, including: – Why EPM is critical to the future of the

  • Strategies for quality work in single audits

    June 25, 2018 Published: Journal of Accountancy Like many members of the CPA profession, single audit practitioners will be managing a change process while maintaining an intense focus on quality. The change coming soon is the imminent release of updated Generally Accepted Government Auditing Standards, also known as the Yellow Book. The updated Yellow Book

  • Proposal would clarify exception to client confidentiality rule

    June 22, 2018 Published; Journal of Accountancy A newly proposed AICPA ethics rule would clarify that certain reviews of a tax practice are included in the exceptions to the AICPA Professional Standards prohibition on disclosing confidential client information without the specific consent of the client. The limited exceptions to the “Confidential Client Information Rule” (ET §1.700.001) include an exception

  • The IFRS Taxonomy Illustrative Examples 2018 are now available

    June 20, 2018 Published: IFRS The IFRS® Foundation has published today the IFRS Taxonomy Illustrative Examples 2018. The examples demonstrate the use of IFRS Taxonomy 2018 elements by tagging the Illustrative Examples that accompany IFRS Standards. The examples are published in both the XBRL and iXBRL (Inline XBRL) formats. The IFRS Foundation has also made available

  • Finance’s role in driving innovation

    June 12, 2018 Published: Journal of Accountancy Organizations that don’t innovate can struggle to keep pace in a rapidly changing business environment. Consultant Bill Swedish offers insight into how finance teams can innovate. Ver video: https://www.journalofaccountancy.com/videos/finance-role-in-innovation.html

  • SEC unveils goals for next 4 years

    June 19, 2018 Published: Journal of Accountancy By Jeff Drew Technology and data are top of mind for the SEC in the initial draft of its strategic plan for fiscal years 2018–2022. The SEC sets three goals in the document, which was released for comment on Tuesday, but the overarching theme is the need for the commission

  • Presentación “Ciberseguridad en el Sistema Financiero” – Joaquín Cortez

    Presentación “Ciberseguridad en el Sistema Financiero” – Joaquín Cortez

    19 de junio de 2018 Del seminario: Comisión de Hacienda del Senado (19/06/2018) Descargar PDF (616 kb)  

  • IMA Management Accounting Competency Framework

    June 18, 2018 Published: Institute of Management Accountants (IMA) Management accounting, like many other fields, is being impacted by a large number of disruptive new technologies, including artificial intelligence (AI), blockchain, cognitive computing, and machine learning. To keep pace with the changing business environment and advancements in technology, IMA has analyzed the emerging competencies needed

  • IMA Management Accounting Competency Framework

    IMA Management Accounting Competency Framework

    June 18, 2018 Published: Institute of Management Accountants (IMA) Management accounting, like many other fields, is being impacted by a large number of disruptive new technologies, including artificial intelligence (AI), blockchain, cognitive computing, and machine learning. To keep pace with the changing business environment and advancements in technology, IMA has analyzed the emerging competencies needed

  • 5 Qualities Audit Committees Want a Corporate Controller to Possess

    June 14, 2018 Published: GoingConcern By: Jason Bramwell Open communication, face-to-face exposure, accountability: These are just some of the tenets of an effective relationship between the corporate controller and the audit committee. But after reading a couple of articles on what audit committees want from CFOs, I was curious to find out what audit committees expect

  • RegTech: the next big thing?

    June 15, 2018 Published: Accountancy Europe by Laura Buijs and Iryna de Smedt   Technology has long been used to help firms comply with financial and other regulations, but never has it been more in demand. The marriage of regulation and technology – or RegTech – is increasingly seen as ’the next big thing’ to

  • Voices of the OECD Forum: Shaping the Debate

    June 8, 2018 Published: OECD Speakers from the 2018 OECD Forum discuss how to improve our societies. https://www.youtube.com/watch?v=-j1lWRUun0s

  • Simplifying Auditing Standards for Small or Non-Complex Entities–Exploring Possible Solutions

    May 18, 2018 Published: IFAC By: Hilde Blomme Confidence in small business benefits us all. The difficulties of applying the International Standards on Auditing (ISAs) in small or non-complex entity audits are apparent, and as such the status quo is not an option. With our new publication, we aim to open the conversation to find an

  • El FMI elevó a 3.9% la perspectiva de crecimiento en América Latina

    13 de junio de 2018 Publicado: InversorLatam “La región debe aprovechar al máximo el potencial de la Cuarta Revolución Industrial, que es el presente, no el futuro, y está ahí lista para ayudar a la región a alcanzar un desarrollo sostenible”, WEF (Word Economic Forum). El Fondo Monetario Internacional (FMI) elevó a 3.9% la perspectiva de crecimiento para

  • COSO supplements ERM Framework with industry examples

    June 11, 2018 Published: AccountingToday The Committee of Sponsoring Organizations of the Treadway Commission, also known as COSO, has added a supplement to its widely used Enterprise Risk Management Framework, including detailed examples of how to use the ERM Framework, written by PwC under the direction of COSO’s board. The Compendium of Examples links together the

  • Public vs. Private Blockchains: What CPAs should know

    June 6, 2018 Published: AICPA Posted by Guest Blogger The word “blockchain” has been tossed around as if all blockchains are the same. Real-time access to information, increased transparency and encryption are standard benefits of any blockchain. However, there are two different types of blockchains: public and private, both of which are important for CPAs

  • Amid strong outlook for U.S. economy, risks abound

    June 6, 2018 Published: OECD The U.S. economy is experiencing one of the longest expansions on record, but the scars left by the Great Recession, as well as challenges posed by globalization and automation shocks, remain visible across the country, according to a new report from the OECD. The latest Economic Survey of the United States presents a

  • Be Beyond

    June 4, 2018 Published: AICPA Accelerated pace of change and advances in technology are creating the need for us to go beyond convention…..disrupting the ways in which we think, learn, communicate, conduct business. >>  Ver Video

  • Culture of ​Accountability

    June 05, 2018 Published: Internal Auditor  By: Neil Hodge Effective cultures encourage employees to take full ownership of their responsibilities — a process in which internal audit can play a strong role. Holding people and organizations to account has historically been a case of pinning blame on them for failures they either caused directly or

  • Charter of fundamental rights in the EU in 2017

    June 6, 2018 Published: European Commission Commission reports shows that further support to the respect and promotion of fundamental rights, the rule of law and democracy will remain central in 2018 The European Commission published today its annual Report on the EU Charter of Fundamental Rights. The report highlights that while 2017 was a year

  • The Digital Transformation Of Accounting And Finance – Artificial Intelligence, Robots And Chatbots

    June 1, 2018 Published: FORBES By: Bernard Marr It turns out that we might be at the perfect storm where how we store and access financial information combined with the maturation of tech capabilities are all in place to accelerate the digital transformation of accounting and finance. Just as others who faced the prospect of

  • OCDE ve más fuerte economía mundial, pero los riesgos ocupan un lugar preponderante

    30 de mayo de 2018 Publicado: OCDE La economía mundial está experimentando un crecimiento más fuerte, impulsado por un rebote en el comercio, mayor inversión y la creación de empleo boyante, y apoyado por la política monetaria muy acomodaticia y distensión fiscal, según el último de la OCDE  Economic Outlook . Se espera que el

  • Wes Bricker on Financial-reporting Structure

    May 1, 2018 Published The Caq By: SEC Chief Accountant Wesley Bricker To enhance investor understanding of America’s system of financial reporting, the Office of the Chief Accountant at the US Securities and Exchange Commission (SEC) has released a new set of infographics. One is a blueprint, offered in both complex and simplified versions, illustrating how

  • OECD: “Strong Progress” in Country-by- Country Reporting across The Globe

    29 May, 2018 Published: The Accountant By: Jonathan Minter Practically all countries that serve as headquarters to large multinational enterprises (MNEs) have introduced new country-by-country reporting obligations, an OECD progress report has found. Country-by-country exchanges are slated to begin in June 2018, and will see tax administrations worldwide collect and share detailed information on all

  • Voices: Differences between the FASB and IASB lease accounting standards, and how companies can prepare for both

    May 24, 2018 Published: AccountingToday By: Alex Klein   Accounting and finance organizations for many multinational businesses are currently working to create plans for two separate lease accounting standards: the Financial Accounting Standards Board’s ASC 842 and the International Accounting Standards Board’s IFRS 16. While the standards are similar in many ways, FASB and IASB

  • Privacy and your digital future

    May 24, 2018 Published: OECD “We care about your data privacy and security. With this in mind, we’re updating our privacy policy by 25 May 2018 in compliance with the EU’s General Data Protection Regulation (GDPR). Click to learn more.” You’ve probably seen messages like this filling your inbox and social media apps of late.

  • Better data protection rights for citizens and better rules for businesses

    May 25, 2018 Published: European Commission As of today, the new EU-wide data protection rules are becoming applicable after a two year transition period. The reform is an essential step to strengthening citizens’ fundamental rights in the digital age and facilitating business by simplifying rules for companies in the Digital Single Market. On 6 April

  • Highlights from the 2018 OECD Conference on unleashing the Potential of the Cyber Insurance Market

    March 28, 2018 Published: OECD Business Finance 22-23 February 2018 – The OECD held a Conference on unleashing the potential of the cyber insurance market. It provided an opportunity to exchange knowledge among policy makers and insurance market participants on addressing the challenges impeding the development of the cyber insurance market https://www.youtube.com/watch?v=DTTz1qdqDWU  

  • CBOK Stakeholder Report: Auditing Strategic Risks: Practical Insights from Internal Audit Leaders

    May 24, 2018 Published: The Institute of Internal Auditors Research Shows Stakeholders Want More From Internal Audit The latest Global Internal Audit Common Body of Knowledge (CBOK) Stakeholder Study report, Auditing Strategic Risks: Practical Insights from Internal Audit Leaders, reveals that nearly two-thirds (64 percent) of stakeholders want internal audit to take a more active role

  • New compilation and review report requirements issued

    May 23, 2018 Published Journal of Accountancy By Mike Glynn, CPA, CGMA   The AICPA Accounting and Review Services Committee issued a new standard Wednesday containing revised compilation and review reporting requirements. The requirements are contained in Statement on Standards for Accounting and Review Services (SSARS) No. 24, Omnibus Statement on Standards for Accounting and Review Services —

  • Presentación “CMF la nueva institucionalidad del mercado de valores y seguros” – Joaquín Cortez

    Presentación “CMF la nueva institucionalidad del mercado de valores y seguros” – Joaquín Cortez

    23 de mayo de 2018 Publicado: CMF Del seminario: VIII Jornada de Gobierno Corporativo UC (23/05/2018) Descargar PDF (1.4 mb)

  • Tech, people skills are key as accountants face changing demands

    May 21, 2018 Published: Journal of Accountancy By Ken Tysiac  Accounting and finance professionals are finding that they must continually learn, unlearn, and relearn to maintain their highly trusted position in a rapidly changing business environment. Accountants need to understand emerging technologies that are changing the profession, such as blockchain, artificial intelligence (AI), and robotic

  • Report to the Nations – 2018 Global Study on Occupational Fraud and Abuse

    Report to the Nations – 2018 Global Study on Occupational Fraud and Abuse

    Abril 2018 Published: ACFE – Association of Certified Fraud Examiners Fraud in general poses a tremendous threat to organizations of all types and sizes, in all parts of the world. This study contains an analysis of 2,690 cases of occupational fraud that were investigated between January 2016 and October 2017. The data presented herein is

  • Presentación “Integración de Mercados de Capitales” – Kevin Cowan

    Presentación “Integración de Mercados de Capitales” – Kevin Cowan

    22 de mayo de 2018 Publicado: CMF Del seminario: Presentación BID: Integración de Mercados de Capitales (21/05/2018)   Descargar pdf ( 1.2 mb)

  • Simplifying Auditing Standards for Small or Non-Complex Entities–Exploring Possible Solutions

    May 18,2018 Published: IFAC By Hilde Blomme and Noémi Robert / Accountancy Europe Confidence in small business benefits us all. The difficulties of applying the International Standards on Auditing (ISAs) in small or non-complex entity audits are apparent, and as such the status quo is not an option. With our new publication, we aim to open

  • Technology and Innovation Report 2018

    Technology and Innovation Report 2018

    Harnessing Frontier Technologies for Sustainable Development May 21, 2018 Published IFAC By: UNCTAD – United Nations Conference on Trade and Development   We live at a time of technological change that is unprecedented in its pace, scope and depth of impact. Harnessing that progress is the surest path for the international community to deliver on

  • Helping Companies Meet the Challenges of Managing Cybersecurity Risk

    Helping Companies Meet the Challenges of Managing Cybersecurity Risk

    May 15, 2018 Published: The CAQ This one-page fact sheet provides an overview of how and why the CPA profession can help companies meet the challenges of managing cybersecurity risk. Key points include the following: – CPAs operate under principles and standards of performance that have defined the accounting profession for over 125 years. –

  • Global Ethics Board Consults on Professional Skepticism

    May 14, 2018 Published: IFAC Public Comment Sought on Behaviors Associated with Exercise of Professional Skepticism The International Ethics Standards Board for Accountants® (IESBA®) seeks public comment by August 15, 2018 on its consultation paper, Professional Skepticism – Meeting Public Expectations. In response to regulatory and other stakeholder feedback on the topic, the paper explores: The behavioral characteristics comprised

  • Risks that matter

    May 14, 2018 Published: OECD What do people think their future holds? To better understand people’s worries, the OECD conducted a survey, called Risks That Matter, asking 20,000 people in 19 countries what they thought were the biggest risks facing them and their family. Read more at http://www.oecd.org/social/risks-that…   https://www.youtube.com/watch?v=Sv3qCvzBArQ

  • Voices Manual processing of reconciliations is a critical audit matter

    May 14, 2018 Published: AccountingToday By: Therese Tucker As the deadline approaches to comply with the new auditing standard adopted last year by the Public Company Accounting Oversight Board (PCAOB), auditors are girding to disclose “critical audit matters” or CAMs for the first time in their reports. Although auditor communication of CAMs currently is permissible

  • Internal Audit Foundation Releases New Anti-Bribery Report

    May 11, 2018 Published: The Institute of Internal Auditors With the global crackdown on bribery and corruption over the last decade, organizations are realizing the need to fully implement structured anti-bribery programs that are continuously monitored. A new report from the Internal Audit Foundation highlights the important role internal audit plays in assuring these programs

  • Presentación “Criptomonedas: Oportunidades y desafíos desde tres perspectivas” – Kevin Cowan

    Presentación “Criptomonedas: Oportunidades y desafíos desde tres perspectivas” – Kevin Cowan

    14 de mayo de 2018 Publicado: CMF Del seminario: Comisión de Hacienda de la Cámara de Diputados (14/05/2018) Descargar pdf (2 MB)

  • Financial Reporting Council (FRC): High Quality Audit Enhanced by Stronger Culture

    10 May 2018 Published: The Accountant Author: Joe Pickard The Financial Reporting Council (FRC) has found that high quality auditing is easier to achieve when firm culture promotes an ethical attitude towards working in the public interest. The report, Audit Culture Thematic Review, found that firms are investing time and effort to improve their firm-wide culture

  • AI and accountants’ intelligence: ‘The AI-ccountant’

    May 09 2018 Published: AccountingToday During its annual developers conference, which kicked off May 8, Google showcased a system named “Duplex AI,” a new technology for conducting natural conversations to carry out real-world tasks over the phone. Google will start testing the technology with the Google Assistant on smartphones to help users set up appointments

  • FASB Working with Stakeholders: Laeses

  • 5 things you need to know about the new international ethics code

    May 8, 2018 Published: Journal of Accountancy The new international Code of Ethics for professional accountants that was unveiled last month has been “long in the making,” according to Kim Gibson, CPA, a member of the International Ethics Standards Board for Accountants (IESBA) and chair of the board’s Rollout and Implementation Working Group. Gibson, who is the

  • IIA eyes risks confronting audit execs

    May 07 2018 Published: AccountingToday The Institute of Internal Auditors released a new report Monday during its international conference in Dubai about the main risks facing chief audit executives. The report, Top Risks Faced by Chief Audit Executives, discusses the top five risks faced by chief audit executives: talent management, data analytics, cyber, regulations, and responding

  • Top Risks Faced by Chief Audit Executives

    Top Risks Faced by Chief Audit Executives

    May 07 2018 The Institute of Internal Auditors released a new report Monday during its international conference in Dubai about the main risks facing chief audit executives. The report, Top Risks Faced by Chief Audit Executives, discusses the top five risks faced by chief audit executives: talent management, data analytics, cyber, regulations, and responding to disruption.

  • IFAC Perspective on Way Forward After Considering Objective Analysis of Monitoring Group Consultation Responses

    May 3, 2018 Published: IFAC IFAC (International Federation of Accountants) commissioned Gibson Dunn, a leading global law firm, to perform an independent qualitative and quantitative analysis of the public responses to the Consultation Paper published by the Monitoring Group: Strengthening the Governance and Oversight of the International Audit-related Standard-setting Boards in the Public Interest. A large number of responses

  • Management considerations for effective KPI disclosure

    May 6, 2018 Published: IFAC By CPA Canada (Chartered Professional Accountants Canada) Read about how management can effectively select and disclose key performance indicators (KPIs) in their corporate reporting to better meet investor information needs. Most Canadian public companies include KPIs in their Management Discussion and Analysis (MD&A) and earnings press releases. KPIs may also

  • The Brave New World of Artificial Intelligence

    18 marzo 2018 Published: OECD Artificial intelligence is a game-changer. It could boost global productivity from 0.8% to 1.4% a year. But with thorny issues like job automation and data privacy, does AI-spurred growth come at a cost? For more info please visit: https://www.oecd-forum.org/channels/722 

  • SEC Launches Additional Investor Protection Search Tool

    May 2, 2018 Published: The Securities and Exchange Commission (SEC) The SEC’s “SALI” Tool Will Allow Investors to Identify Individuals Subject to Judgments or Orders in Enforcement Actions. The Securities and Exchange Commission today announced the launch of an additional online search feature that enables investors to research whether the person trying to sell them

  • EU Members Sates only follow basic requirements of Non- Financial Reporting Directive

    1 May 2018 Published: The Accountant Author: Joe Pickard CSR Europe, GRI and Accountancy Europe have found most EU member states are only implementing the basic requirements of the EU Directive on Non-Financial and Diversity Information. The directive was launched in 2014 by the European Commission (EC) to help align non-financial reporting with the United

  • FinREC issues 2 revenue recognition working drafts

    May 1, 2018 Published: Journal of Accountancy Revenue recognition issues in the gaming and telecommunications industries were the focus of working drafts published Tuesday by the AICPA Financial Reporting Executive Committee (FinREC). The issues discuss considerations to be made when companies in those industries implement FASB’s new revenue recognition standard. When completed, the issues will

  • Lease accounting standard proves daunting for many

    Lease accounting standard proves daunting for many May 30, 2018 Published: AccountingToday With the effective date for the new lease accounting standard taking effect at the end of the year for public companies, many are finding themselves unprepared and their accounting systems in need of an upgrade. “The approach for implementing this lease accounting pronouncement

  • Internal Audit Foundation Releases New Artificial Intelligence Research Report

    April 26, 2018 Published: The Institute of Internal Auditors (IIA) Educating Practitioners on Unique Risks Posed by Data Use The Internal Audit Foundation has released a new research report, Artificial Intelligence – The Data Below, to make internal auditors aware of the different ways AI applications use data and the unique risks this poses. By educating practitioners on

  • Income Taxes

    April 23, 2018 Published: FASB Featuring FASB Chairman Russ Golden and FASB staff, this video focuses on how, as a result of the Tax Cuts and Jobs Act, the FASB is addressing accounting and implementation issues related to income taxes. Ver video haciendo click en la imágen o en el link inferior.      

  • Updating the Auditor’s Report: Opportunities and Challenges

    April 3, 2018 Published: NACD National Association of Corporate Directors By Cindy Fornelli, CAQ Executive Director  “The new audit report is a great opportunity for the profession.” So spoke Marty Baumann, chief auditor and director of professional standards at the US Public Company Accounting Oversight Board (PCAOB), at a panel during the American Accounting Association (AAA)

  • Commission proposes new EU-wide standards that will guarantee a high level of protection for whistleblowers who report breaches of EU law

    Whistleblower protection 23 April 2018 Published: European Commission The European Commission proposed today a new law to strengthen whistleblower protection across the EU. Recent scandals such as Dieselgate, Luxleaks, the Panama Papers or the ongoing Cambridge Analytica revelations show that whistleblowers can play an important role in uncovering unlawful activities that damage the public interest

  • IOSCO seeks feedback on good practices to assist audit committees in supporting audit quality

    24 April 2018 Published: IOSCO The Board of the International Organization of Securities Commissions (IOSCO) is requesting feedback on its proposed good practices for audit committees to support audit quality. IOSCO published today its Consultation Report on Good Practices for Audit Committees in Supporting Audit Quality, which is intended to assist audit committees of issuers

  • The debt of nations

    April 20, 2018 Published: ICAEW (The Institute of Chartered Accountants in England and Wales) Over the past century, many governments have become increasingly dependent on borrowing to finance public spending. In the last two decades alone there has been a dramatic increase in borrowing by governments to nearly £30 trillion, more than three times the

  • Learning from the Pioneers—New Corporate Insights on Integrated Reporting

    April 20, 2018 Published: IFAC By: Yen- pei Chen is a Corporate Reporting and Tax Manager in ACCA’s Professional Insights team Against a backdrop of declining public trust in businesses and business leaders, integrated reporting provides a tool to help businesses regain the trust of investors and other key stakeholders, from customers to employees. ACCA

  • SEC Proposes to Enhance Protections and Preserve Choice for Retail Investors in Their Relationships With Investment Professionals

    April 18, 2018 Published: The Securities and Exchange Commission The Securities and Exchange Commission today voted to propose a package of rulemakings and interpretations designed to enhance the quality and transparency of investors’ relationships with investment advisers and broker-dealers while preserving access to a variety of types of advice relationships and investment products. Under proposed

  • Fewer fraud cases going to law enforcement: ACFE

    April 17 2018 Published: AccountingToday There has been a sharp drop in the percentage of fraud cases that get handed over to law enforcement, the Association of Certified Fraud Examiners (ACFE) reported Tuesday. In the ACFE’s biennnial Report to the Nations, the group noted that between January 2016 and October 2017, 58 percent of cases were

  • Top questions for investors about revenue recognition

    April 16 2018 Published: Accounting Today  The CFA Institute has some advice for investors about the main questions they should be asking about the new revenue recognition standard. In a recent report, Revenue Recognition: Top 10 Questions Investors Should Ask About the Adoption of the New Standard, Sandra Peters, head of the Financial Reporting Policy Group

  • SEC Unveils Public Service Announcement to Promote Background Checks on Investor.gov

    April 16, 2018 Published: SEC The Securities and Exchange Commission today unveiled a public service announcement (PSA) to encourage investors to check the background of their investment professional by using the free search tool on Investor.gov before investing.  Investor.gov, the SEC’s website dedicated to individual investors, provides investors with tools and resources to help them invest wisely and avoid fraud. “Investor education is an important

  • CAQ helps boards manage cybersecurity risk

    April 12, 2018 Published: AccountingToday The Center for Audit Quality has released a tool to help members of the boards of public companies oversee cybersecurity risk management in their organization. The publication, Cybersecurity Risk Management Oversight: A Tool for Board Members, offers questions that board members can use as they discuss cybersecurity risks and disclosures with

  • Data Will Drive Audit Quality

    April 5, 2018 Published: IFAC by Alan Anderson Technological transformations will drive enhanced insight for auditors, says Alan Anderson, owner of consultancy firm ACCOUNTability Plus. Here’s how the mass volumes of data that businesses now produce will allow for higher-quality audits and efficiencies for auditors. http://www.ifac.org/global- knowledge-gateway/audit- assurance/discussion/data- will-drive-audit-quality    

  • How Management Contributes to Audit Quality

    April 9, 2018 Pubished IFAC By Taryn Abate What role can management play in improving audit quality? It is a question that has been largely ignored since the financial crisis of 2008. Instead, initiatives aimed at improving audit quality have focused almost singularly (and understandably) on what auditors could and should be doing. The reality

  • Cybersecurity Risk Management Oversight: A Tool for Board Members

    Cybersecurity Risk Management Oversight: A Tool for Board Members

    April 12, 2018 Published: The Caq Cybersecurity Risk Management Oversight: A Tool for Board Members provides key questions board members can use as they discuss cybersecurity risks and disclosures with management and CPA firms. The questions are grouped under four key areas: 1- Understanding how the financial statement auditor considers cybersecurity risk 2. Understanding the role

  • IESBA rewrites code of ethics for accountants

    April 10 2018 Published: Accounting Today The International Ethics Standards Board for Accountants has released a new code of ethics for accountants that’s been rewritten to make it simpler to navigate, use and enforce. The International Code of Ethics for Professional Accountants (including International Independence Standards) clarifies how accountants should cope with independence and ethics issues and

  • International Code of Ethics for Professional Accountants (including International Independence Standards)

    International Code of Ethics for Professional Accountants (including International Independence Standards)

    Apr 09, 2018 Published: IFAC – IESBA Early Implementation Preparations Encouraged The International Ethics Standards Board for Accountants® (IESBA®) today released a completely rewritten Code of Ethics for Professional Accountants that is easier to navigate, use and enforce. Beyond the new structure, the Code brings together key ethics advances over the past four years, and is clearer about

  • The Financial Reporting Council (FRC) Regulador del UK, implements updated sanctions to auditors, accountants and actuaries.

    9 Apr 2018 Published: The Accountant By Joe Pickard The Financial Reporting Council (FRC), the UK’s independent regulator, has published updated guidance for the Tribunal that hears FRC Enforcement cases involving auditors, accountants and actuaries. The updated guidance has implemented the recommendations which were provided by a publication by an independent review of the sanctions

  • 4 Key Steps for CFOs to Instill Integrated Thinking and Reporting

    April 9, 2018 Published: IFAC by Laura Leka and Stathis Gould Chief Financial Officers (CFOs) are natural leaders in integrated reporting and embracing this gives them the opportunity to shine as “changemakers” in their organizations, where they inspire new thinking and understanding of value creation. This is according to a new publication, ‘Creating Value – CFO Leadership

  • Voices: AICPA proposes independence rules for tech services

    April 06 2018 Published: AccountingToday With 73 percent of Accounting Today’s “2018 Top 100 Firms” reporting growth in their technology consulting business in the past year, they will want to pay attention to a recently released American Institute of CPAs’ proposal on independence rules for non-attest services. On March 15, the institute’s Professional Ethics Executive

  • RegTech Will Help Transform Audit

    February 23, 2018 Published: IFAC By: Liv Watson RegTech, that is Regulatory Technology, will probably have a profound effect on the audit profession—and audit will need to adapt, according to Liv Watson, Co-Chair, Institute of Chartered Accountants of England and Wales’ Natural Capital Accounting, Structured Data Task Force and Senior Director, Strategic Customer Initiatives at Workiva.

  • IOSCO issues recommendations to improve regulatory reporting and transparency in corporate bond markets

    Madrid 05 April 2018 Published: IOSCO The Board of the International Organization of Securities Commissions (IOSCO) published today itsrecommendations for improving the information on secondary corporate bond markets available to both regulators and the public. The recommendations seek to ensure that regulators have better access to information so they can perform their functions more effectively,

  • CAQ Tool Helps Audit Committees Oversee Implementation of New Leases Accounting Standard

    April 4, 2018 Published: The Caq The Center for Audit Quality (CAQ) released a new tool designed to help audit committees exercise their oversight responsibilities as companies implement a new leases accounting standard that begins to take effect in January 2019. Only 21 percent of finance, accounting and other professionals say their companies are “extremely”

  • Preparing for the Leases Accounting Standard: A Tool for Audit Committees

    Preparing for the Leases Accounting Standard: A Tool for Audit Committees

    April 4, 2018 Published: The Caq Preparing for the Leases Accounting Standard: A Tool for Audit Committees is designed to help audit committees exercise their oversight responsibilities as companies implement a new leases accounting standard that begins to take effect in January 2019. The tool includes an overview of the new standard and offers important questions

  • GASB offers guidance on debt disclosures, direct borrowings and placements

    April 02, 2018 Published: AccountingToday The Governmental Accounting Standards Board released guidance Monday to improve debt-related disclosures in notes to financial statements, including how they address direct borrowings and direct placements. In Statement No. 88, Certain Disclosures Related to Debt, including Direct Borrowings and Direct Placements, GASB spells out which liabilities governments should include in their

  • How we will learn to love big data in 2018

    27 March 2018 Published: ICAS By Chris Sheedy, CA Today Leading futurist and keynote speaker Ross Dawson, who regularly consults to accounting, finance and banking bodies, spoke with Chris Sheedy about the single greatest opportunity that the future holds for accountants. There are a lot of reasons to be happy about putting 2017 behind us.

  • IASB finishes revising conceptual framework

    March 29, 2018 Published: IFRS The International Accounting Standards Board (Board) has today issued a revised version of its Conceptual Framework for Financial Reporting that underpins IFRS® Standards. The Conceptual Framework sets out the fundamental concepts of financial reporting that guide the Board in developing IFRS Standards. It helps to ensure that the Standards are conceptually consistent and that similar

  • Accountants can help companies meet SEC demand for cybersecurity disclosures

    March 27 2018 Published: AccountingToday The Securities and Exchange Commission recently issued guidance on disclosures by public companies of the cybersecurity risks they are facing and what they’re doing to address those risks. Accountants can play a role in helping companies by providing assurance and attestation services to make sure they’re taking steps to mitigate

  • International Accounting Standards Board seeks comments on proposed amendments to IAS 8

    27 March 2018 Published: IFRS The International Accounting Standards Board (Board) has today published for public consultation proposed narrow-scope amendments to IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors. IAS 8 sets out the criteria for selecting and changing accounting policies. Companies change accounting policy either as a result of new requirements in IFRS

  • Inteligencia artificial, qué sucede con la seguridad y la privacidad de los datos

    26 de marzo de 2018 Published: INVERSOR LATAM By: Weber Canova, vice-presidente de Tecnología de TOTVS. El intercambio de información posibilita un benchmarking con el mercado. Esta colaboración ayuda a las organizaciones a conocer mejor el mercado en el que actúan y tomar decisiones más acertadas para un crecimiento sostenible. La velocidad de surgimiento de nuevas

  • New FAQs address familiarity threats for long-tenured senior engagement personnel

    March 21, 2018 Published: Journal of Accountancy Two new Frequently Asked Questions (FAQs) issued by the AICPA Professional Ethics Division provide nonauthoritative guidance for the effects on independence when senior personnel have been on an attest engagement team for a long period. The new FAQs have been added to the end of the Professional Ethics

  • Controllers Talk About the Paths They’ve Taken Toward SOX Compliance

    March 19, 2018 Published: GoingConcern By Jason Bramwell As we approach the “sweet sixteen” of the Sarbanes-Oxley Act later this summer, corporate controllers provided some perspective on how SOX compliance efforts have changed with the times and what challenges they continue to face. “I’ve seen quite a few SOX changes through the years and improvements to internal

  • Video – Non-GAAP Measures: A Roadmap for Audit Committees

    March 14, 2018 Published: The Caq To accompany its March 2018 report, Non-GAAP Measures: A Roadmap for Audit Committees, the CAQ released a video featuring interviews with audit committee chairs. The video provides context and real-life examples of how audit committees think about and oversee the use of non-GAAP financial measures.   Link directo a Thecaq.org:

  • Mixed results seen in early revenue recognition standards implementation

    March 20, 2018 Published: AccountingToday Businesses that were early adopters of the revenue recognition standard that’s taking effect for public companies this year have been running into some issues with regulators and investors, according to some observers. The Financial Accounting Standards Board, with the support of the Securities and Exchange Commission, set an effective date

  • Ten Key Regulatory Challenges for 2018

    Ten Key Regulatory Challenges for 2018

    Actions to Drive Effective Change in Financial Services December 2017 Published: KPMG Effects from the anticipated deregulatory policy agenda have not resulted in the dramatic lessening of regulatory challenges for financial services providers that had been predicted. In 2018, regulators clearly will continue to expect an overall strengthening of core risk management governance, controls, practices,

  • Sec accepts 2018 GAAP Financial Reporting Taxonomy

    March 19, 2018 Published: FASB Financial Accounting Standards Board (FASB) today announced that the U.S. Securities and Exchange Commission (SEC) has accepted the 2018 GAAP Financial Reporting Taxonomy. The FASB also announced that the SEC has accepted the 2018 SEC Reporting Taxonomy (SRT), which is new this year. The 2018 GAAP Financial Reporting Taxonomy contains updates for accounting

  • SBIF publica el documento “Modelo Chileno de Supervisión Basada en Riesgos” que es aplicado al sistema bancario

    SBIF publica el documento “Modelo Chileno de Supervisión Basada en Riesgos” que es aplicado al sistema bancario

    9 de marzo 2018 Publicado por SBIF Con esta publicación, la institución busca dar a conocer el modelo de supervisión aplicado a las entidades bancarias y contribuir a la generación de mayores niveles de consenso y convergencia internacional en materia de supervisión bancaria efectiva. En el marco de su objetivo de aumentar la transparencia y accountability,

  • How blockchain might affect audit and assurance

    March 15, 2018 Published: Journal of Accountancy   Although emerging blockchain technology may significantly change financial statement auditing, accounting professionals will continue to have an important role in the audit and may see new opportunities related to blockchain, according to a newly released audit and assurance alert. Blockchain technology forms the foundation for an internet-based

  • CAQ offers advice for audit committees on non-GAAP measures

    March 16 2018 Published: AccountingToday The Center for Audit Quailty has released a new publication offering considerations for audit committee members to help with oversight of non-GAAP measures. The publication, Non-GAAP Measures: A Roadmap for Audit Committees, outlines considerations for audit committees, including how to assess whether a company’s non-GAAP metrics offer a balanced representation of

  • Non-GAAP Measures: A Roadmap for Audit Committees

    Non-GAAP Measures: A Roadmap for Audit Committees

    March 16 2018 Published: The Caq Presenting themes that emerged at a series of 2017 roundtables, Non-GAAP Measures: A Roadmap for Audit Committees provides a set of key considerations for audit committees, including leading practices to assess whether a company’s non-GAAP metrics present a balanced representation of the company’s performance. GAAP information serves as a foundation for

  • AICPA releases dual reporting auditing interpretation

    March 14 2018 Published: AccountingToday The American Institute of CPAs’ Auditing Standards Board has issued an auditing interpretation to help accountants comply with standards from both the AICPA and the Public Company Accounting Oversight Board. Auditing interpretation No. 4, “Reporting on Audits Conducted in Accordance With Auditing Standards Generally Accepted in the U.S. and the

  • Understanding the Accountant’s Role in Corporate Governance

    November 29, 2016 Published: IFAC by Marc Palker Accountants are the gatekeepers of governance and financial reporting, says Marc Palker, Principal at MPP Associates and IMA Chair, Global Board of Directors. By more effectively communicating corporate governance structures from the top down, organizations can facilitate more accurate and ethical information. http://www.ifac.org/global-knowledge-gateway/governance/discussion/understanding-accountant-s-role-corporate-governance  

  • Revised ISO 31000 Risk Management Standard: Still a Good Reference but Not Substantially Improved

    March 13, 2018 Published: IFAC by Vincent Tophoff, Senior Technical Manager, IFAC Earlier this year, the International Organization for Standardization (ISO) issued the revised standard ISO 31000 – Risk management, which provides principles, framework and a process for managing risk in any organization regardless of its size, activity or sector. Users of the previous version will find

  • Key audit matters: unlocking the secrets of the audit

    March 13, 2018 Published: ACCA The global implementation of the IAASB’s changes to auditor reporting standards is broadly a year old. We set out to discover what difference a year makes. Concept of the key audit matter (KAM) The concept of a KAM was borne out of investor demand for more detail on the audit

  • IOSCO seeks to protect senior investors from financial fraud, unsuitable investments and other risks

    Madrid 12 March 2018 Published: IOSCO The Board of the International Organization of Securities Commissions has published today a report that examines the growing vulnerability of ageing investors to financial fraud and other risks and identifies sound practices for enhancing their protection. The report Senior Investor Vulnerability reveals that seniors are at a higher risk

  • Senior Investor Vulnerability

    Senior Investor Vulnerability

    Madrid 12 March 2018 Published: IOSCO The Board of the International Organization of Securities Commissions has published today a report that examines the growing vulnerability of ageing investors to financial fraud and other risks and identifies sound practices for enhancing their protection. The report Senior Investor Vulnerability reveals that seniors are at a higher risk

  • Companies hurry to adopt new hedge accounting standard

    March 09 2018 Published: AccountingToday Some companies have opted to early adopt the new hedge accounting standard, particularly banks, even though they’re still dealing with other new accounting standards. The Financial Accounting Standards Board issued its hedging standard last August, making it effective for public companies in 2019 and private companies in 2020, but also

  • Women in Leadership Roles

    March 6, 2018 Published: IFAC by Kimberly Ellison, Former Chair, AICPA Women are effective leaders—in part because they are multi-taskers, says Kimberly Ellison-Taylor, Former Chair, AICPA, and Global Accounting Strategy Director, Oracle. Women are often able to get multiple things done while managing stress very well. Women in leadership roles frequently excel at listening and

  • Environmental, Social and Governance (ESG) reporting on the rise

    6 March 2018 Published: The Accountant Author: Stephanie Wix Environmental, social and governance (ESG) reporting trends are on the rise, according to a report by the World Business Council for Sustainable Development (WBCSD) and the Climate Disclosure Standards Board (CDSB). The report found that environmental topics have been emerging in reporting requirements, yet governance topics

  • Voices: Five questions for the Accounting Singularity

    March 05 2018 Published: AccountingToday By: Daniel Hood You may have heard of the Singularity — the moment predicted by futurists when the evolution of computers and software reaches a point that a true “artificial intelligence” is created. Beyond that, the futurists say, everything in our world will change so rapidly and so profoundly that

  • Cuenta Pública CMF 2014-2017

    Cuenta Pública CMF 2014-2017

    Descargar clikeando la imagen o Link a CMFChile http://www.cmfchile.cl/portal/publicaciones/610/articles-24637_doc_pdf.pdf    

  • Cuenta Pública SBIF 2017

    Cuenta Pública SBIF 2017

    Descargar desde la imagen o directamente desde el link. http://www.sbif.cl/sbifweb3/internet/archivos/publicacion_12013.pdf

  • ASB issues auditing interpretation on dual reporting

    March 6, 2018 Published: Journal of Accountancy The AICPA Auditing Standards Board (ASB) issued an interpretation Friday to help auditors comply with reporting requirements under both AU-C Section 700 and PCAOB Auditing Standard No. 3101. Auditing Interpretation No. 4, Reporting on Audits Conducted in Accordance With Auditing Standards Generally Accepted in the United States of America

  • Risk Management crucial to effective strategic leadership, says ACCA

    2 March 2018 Published: The Accountant Company boards should focus on risk assessment, reporting and control to align with governance policies and objectives, because appropriate risk taking can protect them from potential losses and help them to exploit opportunities, according to research from the Association of Chartered Certified Accountants (ACCA). The report Risk and the

  • FASB addresses accounting for implementing certain cloud-computing arrangements

    March 1, 2018 Published: Journal of Accountancy FASB issued a proposed Accounting Standards Update (ASU) on Thursday that would clarify the accounting for implementation costs related to a cloud-computing arrangement that is a service contract. The proposal also would add new disclosure rules for implementation costs for internal-use software and cloud-computing arrangements. In issuing the

  • Flexibility & A Transparent Corporate Culture Will Help Attract Top Talent

    February 23, 2018 Published: IFAC by Lisa Simpson, Associate Director, Firm Services, AICPA Attracting and retaining talent requires a transparent corporate culture, work structure flexibility, and leadership engagement, according to Lisa Simpson, Associate Director of Firm Services at the American Institute of CPAs. Today’s top talent want a culture where they feel engaged and heard,

  • ACCA supports regulatory approach to initial Coin Offerings

    27 February, 2018 Published: The Accountant Author: Stephanie Wix While blockchain technology and cryptocurrencies are developing there needs to be a balance between regulation, risk management and innovation, according to The Association of Chartered Certified Accountants (ACCA). Originally developed to fund blockchain based innovation, Initial Coin Offerings (ICOs) are when investors receive coins/tokens rather than

  • Study suppots shorter auditor tenure

    Study suppots shorter auditor tenure 27 February, 2018 Published: Accounting Today By: Michael Cohn Efforts in the U.S. and Europe to encourage public companies to change auditors have largely failed, according to a new academic study. The study examined how audit regulators in the U.S. and Europe have responded to calls for mandatory auditor rotation.

  • Most companies are struggling with new lease accounting standard

    February 26 2018 Published: AccountingToday By: Ranica Arrowsmith Three quarters of companies find the new lease accounting standard set forth by the Financial Accounting Standards Board to be more complex than expected.   The FASB standard, released in 2016, requires organizations that lease assets to recognize on the balance sheet the assets and liabilities for

  • Report of the Emerging Economies Group posted

    Report of the Emerging Economies Group posted

    26 February, 2018 Published: IFRS Emerging Economies Group The Emerging Economies Group (EEG) was created in 2011 at the direction of the IFRS Foundation Trustees, with the aim of enhancing the participation of emerging economies in the development of IFRS Standards. This Report of the Emerging Economics Group provides a summary of the 14th EEG

  • SEC Adopts Statement and Interpretive Guidance on Public Company Cybersecurity Disclosures

    February 21, 2018 Published: SEC The Securities and Exchange Commission voted unanimously to approve a statement and interpretive guidance to assist public companies in preparing disclosures about cybersecurity risks and incidents. “I believe that providing the Commission’s views on these matters will promote clearer and more robust disclosure by companies about cybersecurity risks and incidents,

  • Monitoring Group announced Second Consultation

    February 22, 2018 Published: The Accountant In a statement the monitoring group – a set of international financial institutions and regulatory bodies responsible for the overall governance of the international audit-related standard-setting process and the review of its effectiveness – said that it had received responses from a wide variety of stakeholders, including investors, the

  • Fasb proposed update to list of permissible U.S. Benchmark Interest Rates for Hedge Accounting

    February 20, 2018 Published: FASB The Financial Accounting Standards Board (FASB) today issued a proposed Accounting Standards Update (ASU) that would expand the list of U.S. benchmark interest rates permitted in the application of hedge accounting. Stakeholders are encouraged to review and provide comment on the proposal by March 30, 2018. FASB Accounting Standards Codification® Topic

  • Quality Assurance for Audit – Good Practice Guide

    August 4, 2017 Published: CAPA (Confederation of Asian and Pacific Accountant) This ‘Quality Assurance (QA) for Audit Good Practice Guide (GPG)’ was prepared by ICAEW as part of the Project TA-8740: Strengthening Financial Management in Asia and the Pacific (48191-001), a regional technical assistance program funded by the Asian Development Bank (ADB). This GPG provides the “why”, “what”

  • Fintech, la inversión mundial alcanzó los USD 31 mil millones

    20 de febrero de 2018 Publicado por Inversor Latam La inversión total y global en los últimos tres años en tecnología financiera llegó a USD 122 mil millones, Y el financiamiento de Fintech en las Américas creció en USD 5.9 mil millones, según KPMG. El informe Pulse of Fintech, acerca de los fondos de inversión

  • Auditor’s Role in Tackling Financial Crime

    20 February 2018 Published: The Accountant Accountancy Europe has released frequently asked questions explaining the role of the auditor in tackling financial crime, the legal basis of their responsibilities and what auditors can do in practice. The publication is based on the information paper Auditor’s role in fighting financial crime published in December 2017, which outlined how auditors

  • Frequently Asked Questions (FAQ) on the auditor’s role in tackling financial crime

    Frequently Asked Questions (FAQ) on the auditor’s role in tackling financial crime

    19 February 2018 Published: Accountancy Europe Society expects the auditor to play an important role in uncovering financial crime. This FAQ aims to further explain the auditor’s role by answering questions we have been receiving. This publication builds on the information paper Auditor’s role in fighting financial crime which provides a comprehensive overview of the auditor’s key responsibilities.

  • SEC Suspends Trading in Three Issuers Claiming Involvement in Cryptocurrency and Blockchain Technology

    February 16, 2018 Published: SEC The Securities and Exchange Commission today suspended trading in three companies amid questions surrounding similar statements they made about the acquisition of cryptocurrency and blockchain technology-related assets. The SEC’s trading suspension orders state that recent press releases issued by Cherubim Interests Inc. (CHIT), PDX Partners Inc. (PDXP), and Victura Construction

  • Tenets of a quality audit

    15 February 2018 Published: IFAC – ACCA Think ahead By: Andrew Gambier – ACCA Quality auditing remains vital to public confidence and there is keen interest in initiatives that help keep up the pace of improvement. Standard setting In 2014, the International Auditing and Assurance Standards Board (IAASB) issued ‘A Framework for Audit Quality’, which

  • Long Term Value Creation Through Integrated Reporting

    Long Term Value Creation Through Integrated Reporting

    Questions and Answers for Professional Accountancy Organizations (PAOs) February 14, 2018 Published: IFAC Integrated reporting is critical to long term value creation. Since IFAC issued Policy Position Paper 8, Enhanced Organizational Reporting: Integrated Reporting Key, professional accountancy organizations (PAOs) and other interested organizations have raised various issues and questions as they explore and encourage integrated reporting.

  • Voices: 5 common types of back office occupational fraud, and how Artificial Intelligence (AI) can stop them

    February 15 2018   Published: Accounting Today By: Anant Kale Often with their gray file cabinets and outdated paint jobs, corporate backrooms aren’t the most scintillating destinations, or topics of conversation. Yet for many companies they remain vitally important as the epicenter of occupational fraud detection.   So what are the most common tactics of

  • How Can the New ERM Framework Help You?

    February 12, 2018 Published: IFAC Patrick Stroh, Institute of Management Accountants Global Board Member and President, Business Strategy Innovation at Mercuiry Business Advisors, shares insights on the recently updated COSO Enterprise Risk Management (ERM) Framework. He highlights how the guidance moves from mitigation and controls to value creation, growth, innovation, and strategy. The updated framework focuses

  • IFAC Response to the Monitoring Group Consultation

    February 09, 2018 Published: IFAC   International standards for auditing and ethics play a critical role in the global financial infrastructure, assisting in promoting economic stability and international consistency, and in doing so, enhancing international financial and capital flows essential to a thriving global economy. This is especially important for emerging economies. International standard setting

  • What tax reform means for audit committees

    February 9, 2018 Published: Journal of Accountancy By Ken Tysiac Any new development that has a significant impact on company financial statements and risk profiles requires serious attention from audit committees. One such development is the enactment of P.L. 115-97, known as the Tax Cuts and Jobs Act. Depending on the company, the law may

  • IFIAR Board responds to Monitoring Group Consultation Paper

    February 9, 2018 Published: IFIAR On November 9, 2017 the Monitoring Group issued the consultation paper Strengthening the Governance and Oversight of the International Audit-related Standard-setting Boards in the Public Interest, which set out various options to enhance the governance, accountability and oversight of the international audit standard setting process.   The IFIAR Board has submitted

  • Building Your Firm’s Accounting Advisory Services

    January 29, 2018 Published: IFAC By: Samantha Mansfield, Director of Professional Development & Community, CPA.com There are two major costs when taking client accounting advisory services into account: technology and people, according to Samantha Mansfield, Director of Professional Development & Community at CPA.com. For technology expenses, firms need to plan for experimentation time, to try

  • SEC Office of Compliance Inspections and Examinations Announces 2018 Examination Priorities

    February 7, 2018 Published: SEC The Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) today announced its 2018 examination priorities. OCIE publishes its exam priorities annually to improve compliance, prevent fraud, monitor risk, and inform policy. Of particular interest this year will be matters involving critical market infrastructure, duties to retail investors, and developments

  • 2018 National Exam Program Examination Priorities

    2018 National Exam Program Examination Priorities

    February 7, 2018 Published: SEC The Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) today announced its 2018 examination priorities. OCIE publishes its exam priorities annually to improve compliance, prevent fraud, monitor risk, and inform policy. Of particular interest this year will be matters involving critical market infrastructure, duties to retail investors, and developments

  • International Accounting Standards Board issues narrow-scope amendments to pension accounting

    February 7, 2018 Published: IFRS Plan Amendment, Curtailment or Settlement (Amendments to IAS 19) specifies how companies determine pension expenses when changes to a defined benefit pension plan occur. IAS 19 Employee Benefits specifies how a company accounts for a defined benefit plan. When a change to a plan—an amendment, curtailment or settlement—takes place, IAS

  • GASB requests public input on Revenue and Expense Recognition

    February 1, 2018 Published: GASB The Governmental Accounting Standards Board (GASB) has issued for public feedback an Invitation to Comment (ITC) on the development of a comprehensive revenue and expense recognition model for state and local governments. The GASB’s objectives in developing a comprehensive model are: – To create a more robust framework to address a wide

  • Voices: The ABCs of better independence compliance

    February 5, 2018 Published: Accounting Today By: Cathy Allen   I hear it all the time – firms struggle with independence compliance. Understanding, applying, and getting it right is not so easy, but there are three key things firms can do to enhance compliance. These can be categorized as: Promote awareness. Communicate well. Create good

  • 7 revenue recognition issues exposed by FinREC

    February 1, 2018 Published: Journal of Accountancy By Ken Tysiac Seven new revenue recognition implementation issues were exposed in working drafts issued by the AICPA Financial Reporting Executive Committee (FinREC) on Thursday. Once completed, the working drafts will be added to the AICPA’s revenue recognition guide, which provides industry-specific considerations for implementing FASB’s new revenue

  • Comités de auditoría de alto rendimiento

    Comités de auditoría de alto rendimiento

    Opinión fuente: PULSO 02/02/2018 Por Renzo Corona Spedaliere – socio líder de Auditoría, PwC Chile. En su función de supervisar el proceso de información financiera y representar los intereses de todos los accionistas, los integrantes de un Comité de Auditoría, con frecuencia, deben cuestionar el juicio de la administración o desafiar sus conclusiones. En estos

  • IOSCO’s Monitoring Group consultation

    31 January 2018 Published: Accountancy Europe We responded to the International Organization of Securities Commissions’ Monitoring Group consultation on strengthening the governance and oversight of the international audit-related standard-setting boards in the public interest.   Read all the document in: https://www.accountancyeurope.eu/wp-content/uploads/180131-Response-to-MG-Consultation-Accountancy-Europe.pdf  

  • What Top Skills Do Professional Accountants Need for the Future?

    January 14, 2018 Published: IFAC By: Tom Hood, Executive Director & CEO, Maryland Institute of CPAs How can professional accountants use their skills to anticipate the future? Tom Hood, Executive Director and CEO of the Maryland Association of CPAs, talks about the top skills accountants need in this age of artificial intelligence, robotics, and machine

  • International Integrated Reporting Council reacts to High Level Expert Group on Sustainable Finance call for greater integration

    January 31, 2018 Published: The International Integrated Reporting Council (IIRC)   The International Integrated Reporting Council (IIRC) has welcomed the call from the High-Level Expert Group on Sustainable Finance for European action towards greater integration in corporate reporting. The Group, which released its final report today, has called on the European Commission to “place greater

  • Enterprise Risk Managment

    Enterprise Risk Managment

    January 23, 2018 Published: the World Business Council for Sustainable Development (WBCSD) Applying enterprise risk management to environmental, social and governance-related risks. This document was developed by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) and the World Business Council for Sustainable Development (WBCSD). This document summarizes the forthcoming draft application guidance: Enterprise risk management

  • Why Accountants Must Embrace Machine Learning

    January 29,2018 Published: IFAC By: Donny Shimamoto There is currently much fear and hype around Artificial intelligence (AI) and its impact on accountants. In Gartner’s Hype Cycle of Artificial Intelligence, the majority of AI applications are climbing and cresting the Peak of Inflated Expectations—meaning that expectations are high and many technologies are already failing to

  • What Firms Should Know About Gen Z and Millennials

    What Firms Should Know About Gen Z and Millennials

    January 22, 2018 Published: Accounting web By: Deanna Arteaga With the accounting profession still facing a shortage of new talent and scores of baby boomer CPAs set to retire, it is more critical than ever for accounting firm leaders to do all they can to fill the talent pipeline Over the last decade that meant

  • FASB task force tackles cloud computing costs

    January 25, 2018 Published: AccountingToday By: Michael Cohn   The Financial Accounting Standards Board’s Emerging Issues Task Force plans to propose new rules for how to deal with cloud computing service costs. At a meeting last week, the EITF discussed how to account for implementation, setup, and other upfront costs incurred in cloud computing arrangements

  • FASB clarifies lease standard’s application to land easements

    January 25, 2018 Published: Journal of Accountancy By Ken Tysiac FASB issued an Accounting Standards Update (ASU) on Thursday that clarifies the application of the board’s new lease accounting standard to land easements and makes adopting the leases standard easier for some land easements. Land easements represent the right to use, access, or cross another

  • IFRS Standards and their impact on financial stability and long-term investments

    25 January, 2018 Published: IFRS Questions are sometimes asked about whether there is a connection between IFRS Standards and financial stability – and also about whether IFRS Standards encourage long-term or short-term investments. Here are two presentations that tackle those questions: IFRS® Standards and financial stability This presentation explores the impact of accounting volatility on financial

  • Lease simplification efforts

    26 January, 2018 Published: FASB Responding to stakeholder concerns about the new leasing standard, the FASB took steps to reduce unnecessary complexity, cost, and uncertainty without impacting the ultimate information provided to investors. http://www.fasb.org/fasboutlook  

  • PCAOB identifies most frequent 2016 audit issues

    January 1, 2018 Fuente: Journal of Accountancy PCAOB inspectors identified three areas where audit deficiencies were most frequently identified in 2016, according to a recently published board staff inspection brief. The areas with most common deficiencies were:  – Assessing and responding to risk of material misstatement. For example, in some cases the auditor did not perform tests of details

  • Los datos no mienten… ¿o sí?

    22 enero 2018 Fuente: El Mundo.es Opinión: Alberto Iglesias Fraga No es ningún secreto que vivimos en la era de los datos, en la que la información se ha configurado como el mayor activo -como así reseñaba en estas mismas líneas la pasada semana- para las compañías, mientras que los números han sucedido al ingenio

  • We need to understand impacts better

    22 January, 2018 Fuente: Integrated Reporting <IR> Author: Tom Levitt, Author, The Company Citizen   My new book, The Company Citizen, argues that the problems of the planet, nation and community can’t be resolved without the active engagement of business, alongside other sectors – and furthermore, that a business case can be made for that

  • Tax & Legal: Tax News

    Tax & Legal: Tax News

    Enero 2018 Fuente: KPMG Contenido: –       Renta 2018 –        Listado de Paraísos Tributarios –        Establecimiento Permanente –        Subsidio Fijo a la Construcción     Descargar pdf ( 265 kb)

  • IOSCO Board Communication on concerns related to Initial Coin Offerings (ICOs)

    18 January 2018 Fuente: IOSCO Initial Coin Offerings (ICOs, also known as token sales or coin sales), typically involve the creation of digital tokens – using distributed ledger technology – and their sale to investors by auction or through subscription, in return for a crypto-currency such as Bitcoin or Ether (or more rarely for government-backed

  • The IFRS 17 accounting model in one page

    January 17, 2018 Fuente: IFRS Today we publish a simple one-page summary of the accounting model in IFRS 17 Insurance Contracts. This summary will help stakeholders understand different elements of the model and how they will be displayed on a company’s balance sheet and in its profit or loss statement. You can also download the one-page summary

  • How to develop a global mindset

    January 16, 2018 Fuente: Journal of Accountancy Today’s business world is a far cry from yesteryear. An increasing number of organizations operate worldwide, and they are more diverse internally. And that means professionals — including CPAs — must be adept at dealing not only with employees from various backgrounds, but with workers and clients in

  • CES 2018 Was a Catalyst of Innovation

    January 19,2018 Fuente: ces.tech Consumer Electronics Show Las Vegas, January 9-12 / 2018 CES is the world’s gathering place for all those who thrive on the business of consumer technologies. It has served as the proving ground for innovators and breakthrough technologies for 50 years — the global stage where next-generation innovations are introduced to

  • Voices Art of Accounting: What our clients pay us for

    January 15 2018 Fuente: AccontingToday By: Edward Mendlowitz   Did you ever think about your value to your clients and what they are paying you for? I do, frequently, and I try to make sure I deliver more value than they expect. Here are some things that I believe clients pay for and expect: –

  • Exposure Drafts and Consultation Papers, Surveys & Reports: IESBA Fees Questionnaire

    Exposure Drafts and Consultation Papers, Surveys & Reports: Fuente: IFAC Update: The IESBA has extended their deadline to March 1, 2018 to give stakeholders an extra month to respond to their Fees Questionnaire. See more information: https://www.ifac.org/publications-resources/iesba-fees-questionnaire  

  • IASB issues IFRS Taxonomy Update for IFRS 17 Insurance Contracts

    11 January 2018 Fuente: IFRS The International Accounting Standards Board (Board) has today issued an update to the IFRS Taxonomy 2017 for IFRS 17 Insurance Contracts. The IFRS Taxonomy Update includes IFRS Taxonomy elements to reflect the new presentation and disclosure requirements introduced by IFRS 17 Insurance Contracts, issued by the Board in May 2017. For the IFRS Taxonomy

  • Audit committees will be dealing with new accounting standards and tax reform this year

    Fuente: AccountingToday.com   / Por Michael Cohn, editor in chief. Michael Cohn Audit committees at public companies will have plenty on their agendas this year, according to a pair of new reports from KPMG, including new accounting standards, the new tax law, cyber security and more. The reports, On the audit committee agenda and On the

  • CPAs Helping to Fight Against Cyberattacks

    January 12, 2018 – Fuente: AICPA Learn how CPAs can help businesses fight cyberattacks. Whether an organization is designing a new cybersecurity program or needs an assurance report on one already in place – CPAs skilled in information management and technology are ready to serve.

  • The Independent Audit Is Highly Valued

    The Independent Audit Is Highly Valued

    January 10, 2018 Fuente: The CAQ   By wide margins, investors, audit committees, and other key users of financial statements see independent auditors playing a critical and valuable role in capital markets. Descargar PDF (217 kb)

  • Asamblea Anual 2017

    Con fecha 5 de octubre se celebró Asamblea Anual de AEChile. Las materias tratadas, según lo dispuesto en los Estatutos de la Asociación, fueron las siguientes: 1) Cuenta Anual del Presidente de la Asociación; 2) El directorio aprobó los Estados Financieros al 30 junio 2017 y el presupuesto 2017/18 y 3) Acuerdos principales tomados por

  • The risks, and potential rewards, of rotating chief audit executives

    January 1, 2018 Fuente: Journal of Accountancy Best practices The expectations and standards set by a company’s audit committee can go a long way toward helping any chief audit executive (CAE), on a rotation or otherwise. Here are some considerations for companies in ensuring the success of a CAE who might come from another part

  • Tech Trends 2018

    Tech Trends 2018

    The symphonic enterprise Este año el informe destaca ocho tendencias claves que podrían afectar las estrategias y los resultados comerciales de las empresas. Fuente: Deloitte   El tema de este año, “The Symphonic Enterprise”, es una idea que describe la estrategia, la tecnología y las operaciones trabajando juntas, en armonía, a través de dominios y

  • CMF: Normativa Interna de Funcionamiento

    CMF: Normativa Interna de Funcionamiento

    29 de diciembre de 2017 Fuente: SVS La Superintendencia de Valores y Seguros (SVS) informa que, en el marco de la puesta en marcha de la Ley N° 21.000, que crea la Comisión para el Mercado Financiero (CMF), el Consejo del nuevo organismo aprobó su Normativa Interna de Funcionamiento. Esta normativa regula los aspectos básicos

  • 08 January 2018 IFRS 9 and IFRS 15 are now effective

    IFRS 9 Financial Instruments IFRS 9 was issued in 2014 and replaces IAS 39 Financial Instruments: Recognition and Measurement. It consists of three different parts: classification and measurement, impairment and hedge accounting. The most significant change resulting from IFRS 9 is how banks account for loan losses, though the Standard is also relevant for other companies. To

  • Brace yourself for AI and blockchain

    At first glance, the threats seem clear: One type of software will learn how to perform all manner of business functions, particularly in finance and accounting, while another will continuously validate any set of data or information. Between them, artificial intelligence and blockchain seem poised to disrupt — or even destroy — many of the

  • FASB proposes tweaks to leasing standard

    The Financial Accounting Standards Board is proposing a new accounting standards update to reduce the costs of the new lease accounting standard and make implementing it a little easier. The proposed update would simplify some of the transition requirements and offer lessors a practical expedient for separating nonlease components from lease components. The changes would

  • Audit fees continued to increase in 2016

    Auditing fees kept up their steady pace of increase over the past six years, according to a new report, climbing from $7.6 billion in 2010 to $9.2 billion in 2016. The ratio of audit fees over revenue also grew to $541 per $1 million of revenue, according to the report, from the research firm Audit

  • 10 accounting tech trends for 2018

      Technology is being seen as a solution for time management, labor shortages, communication and collaboration — and accounting firms are no exception. Based on feedback from more than 85 member firms during BKR International’s Worldwide Meeting in London, here are the top 10 technologies that accounting firms plan to embrace or enhance in 2018.

  • Final rules govern election out of centralized partnership audits

    The IRS issued final regulations (T.D. 9829) that implement the rules for electing out of the centralized partnership audit regime enacted by the Bipartisan Budget Act of 2015, P.L. 114-74, and amended by the Protecting Americans From Tax Hikes Act of 2015, P.L. 114-113. The regulations apply to partnership tax years beginning after Dec. 31,

  • IRS works on withholding guidance for tax reform law

    The Internal Revenue Service said it is working on developing withholding guidance to implement the tax reform bill signed into law on December 22. “We anticipate issuing the initial withholding guidance in January, and employers and payroll service providers will be encouraged to implement the changes in February,” said the IRS. “The IRS emphasizes this

  • STAFF GUIDANCE CHANGES TO THE AUDITOR’S REPORT EFFECTIVE FOR AUDITS OF FISCAL YEARS ENDING ON OR AFTER DECEMBER 15, 2017 UPDATED AS OF DECEMBER 28, 2017

    STAFF GUIDANCE CHANGES TO THE AUDITOR’S REPORT EFFECTIVE FOR AUDITS OF FISCAL YEARS ENDING ON OR AFTER DECEMBER 15, 2017 UPDATED AS OF DECEMBER 28, 2017

    PCAOB Nota del Editor de AECHILE Este documento emitido el 28 diciembre 2017 es el mismo documento del 4 de diciembre 2017 con aclaración de auditor tenure página 4. Descargar pdf 288 (kb)

  • FSOC Publishes 2017 Annual Report, Highlights Cybersecurity and Financial Innovation Risks

    Buckley Sandler LLP USA December 22 2017 On December 14, the Financial Stability Oversight Council (FSOC) released its 2017 annual report. The report reviews financial market developments, identifies emerging risks, and offers recommendations to enhance financial stability. Highlights include: – Cybersecurity. The report notes that financial institutions need to work with regulators to improve cybersecurity

  • APUNTE HISTÓRICO N° 205 ÚLTIMO Y FINAL DE LA SERIE

    *Apunte histórico del Sr. Carlos Valdivieso Se cierra el año 2017 correspondiendo mi apunte histórico número 205  que he destinado al incendio de la iglesia de la Compañía  ocurrido hace 154 años el 8 de diciembre del año 1863. Estimados lectores; durante cuatro años; semana a semana he escrito  estos apuntes; lo he hecho con

  • EU data protection advisory body issues guidance on setting “effective, proportionate and dissuasive” fines under the GDPR

    Ropes & Gray LLP The EU’s data protection advisory body, the Article 29 Data Protection Working Party (WP29), has adopted Guidelines on the application and setting of administrative fines for the purposes of the General Data Protection Regulation 2016/679/EU. Administrative fines are described in the introduction as central to enforcement and “a powerful part of

  • Countries slow on EU audit legislation implementation

    Author: Stephanie Wix Published: 22 Dec 2017 A state of play report from Accountancy Europe has found that Norway, Iceland, Croatia, Slovenia and Liechtenstein have not yet implemented EU audit legislation at all, in comparison to the 26 countries in Europe that have already fully implemented. The main topics on the EU audit legislation includes

  • El árbol de Navidad

    *Apunte histórico del Sr. Carlos Valdivieso Estimados lectores; el próximo domingo 24 será Navidad; repasemos algo de la historia del árbol de Navidad; he tenido como fuente diversos documentos de la web y material propio. “La celebración de la Navidad no es un mandato divino, ni tiene su origen en el Nuevo Testamento” (Cyclopedia of Biblical, Theological,

  • Consultative document on stress testing principles and a range of practices report issued by the Basel Committee

    20 December 2017 Press release The Basel Committee on Banking Supervision today released a consultative document on stress testing principles and a range of practices report on supervisory and bank stress testing. The range of practices report describes and compares supervisory and bank stress testing practices and highlights areas of evolution. The report finds that, in

  • Información ordenada, sustentada y gestionable

    Información ordenada, sustentada y gestionable

    El Mercurio – Cumplimiento Tributario Por Alejandro Joignant, socio de PwC Chile. Expertos de PwC Chile entregan las claves del cumplimiento tributario a 2018. La relevancia de la información contable y sus procesos asociados Por Alejandro Joignant, socio de PwC Chile. En los últimos años, los procesos tributarios han aumentado en complejidad y profundidad, así

  • A Working List of Things Accounting Firms Will Be Fretting About in 2018

    By Caleb Newquist | December 12, 2017       1. Disruption 2. Change 3. Disruptive change 4. The pace of disruptive change 5. Whether or not they’ve figured out the cloud 6. Finding qualified talent 7. Millennials 8. Figuring out how to find qualified talent that aren’t millennials 9. The inevitable cyberattack that will

  • Los ‘hackers’ llevan a la bancarrota a un mercado de bitcoins en Corea del Sur

    La banca rechaza el bitcoin, pero apuesta por su tecnología El estreno de los nuevos futuros frena los récords del bitcoin FT: Bitcoin: ¿Riesgo o futuro? El segundo ‘hackeo’ en el año de la plataforma Youbit provoca pérdidas entre los inversores y aviva el debate sobre la seguridad. El bitcoin amplía su corrección desde máximos.

  • CAQ alert (Diciembre 2017)

    CAQ alert (Diciembre 2017)

    Descargar pdf (345 kb)

  • It took five decades to build Steinhoff. It cratered in two days from accounting scand

    It looked like Steinhoff International Holdings NV had reached escape velocity from South Africa’s deepening economic gloom: A furniture retailer emulating Ikea’s model and global ambitions, built by men with their own compelling rags-to-riches stories. Then the debt-fueled rocket stalled and came crashing down. From her office overlooking Cape Town’s waterfront, Sygnia Investment Management Ltd.

  • SEC Announces More than $20 Million in Whistleblower Awards

    In the course of one week, the United States Securities and Exchange Commission announced awards to three whistleblowers totaling more than $20 million under the Dodd-Frank Whistleblower Program. On November 30, the SEC announced awards of more than $8 million each to two whistleblowers. The first individual alerted the agency to conduct that became the

  • Banco Central de Chile

    *Apunte histórico del Sr. Carlos Valdivieso El 15 diciembre 1925 hace 92 años, inició sus operaciones el Banco Central de Chile. Este pequeño apunte muestra algunas pinceladas, He tenido como fuente la Memoria Chilena de la Biblioteca Nacional y algo de material propio. A mediados del siglo XIX empezaron a operar en Chile los primeros

  • The American Institute of CPAs has released a new guide to data analytics to familiarize CPAs with the technology.

    The Guide to Audit Data Analytics offers an overview of data analytic techniques to help auditors apply the technology to their audit engagements. The guide discusses how audit data analytics can help improved understanding of an organization’s operations and risks, increase the potential for detecting material misstatements, and improve communications with officials responsible for governance.

  • IFAC International Standards 2017 Global Status Report

    IFAC International Standards 2017 Global Status Report

    Nota del Editor de AECHILE Los interesados deben descargar el documento desde el sitio web de IFAC link de descarga: http://www.ifac.org/publicatio ns-resources/international-sta ndards-2017-global-status-repo rt

  • Ocho claves a tener en cuenta en la gestión del gobierno corporativo

        Ir a noticias en El Mercurio desde aquí

  • Ministerio de Hacienda: Fija la fecha de entrada en funcionamiento de la Comisión para el Mercado Financiero y la fecha de supresión de la Superintendencia de Valores y Seguros

    Diario Oficial DFL Núm. 10.- Santiago, 21 de noviembre de 2017. Vistos: Lo dispuesto en el artículo 64 de la Constitución Política de la República de Chile, y la facultad conferida en el artículo cuarto transitorio de la ley N° 21.000, que crea la Comisión para el Mercado Financiero, dicto el siguiente. Decreto con fuerza

  • PCAOB gets new chairman, complete new board membership

    A complete change in the composition of the PCAOB was announced Tuesday by the SEC as William Duhnke was appointed as the board’s chairman and J. Robert Brown, Kathleen Hamm, James Kaiser, and Duane DesParte were named as board members. They replace the previous chairman, James Doty, and board members Steve Harris, Jeanette Franzel, and

  • GASB proposals address capitalization of interest costs, implementation

    By Ken Tysiac December 8, 2017 In separate exposure drafts, GASB on Friday issued proposals related to capitalization of interest costs and implementation of recent pronouncements. One ED, Accounting for Interest Cost During the Period of Construction, proposes guidance intended to enhance the relevance and comparability of information about capital assets and the cost of

  • The Audit Report – Considerations for Audit Committes

    The Audit Report – Considerations for Audit Committes

    Nota del Editor de AECHILE En relación al nuevo informe del auditor se acompaña documento emitido por Center for Audit Quality ( CAQ ) con un resumen de los cambios en cada etapa. Descargar pdf ( 645 kb)  

  • ALUMBRADO PUBLICO EN SANTIAGO DE CHILE

    *Apunte histórico del Sr. Carlos Valdivieso El 9 de diciembre de 1812;  esto es hace 205 años, José Miguel Carrera decide impulsar el alumbrado público en Santiago. La fuente de información es parte de la Enciclopedia Chilena, un proyecto realizado por la Biblioteca del Congreso Nacional de Chile entre 1948 y 1971.También he consultado material de la Biblioteca

  • SEC eyes implementation of rev rec and lease standards

    Officials with the Securities and Exchange Commission are keeping a close watch on how companies are adjusting to the new revenue recognition and leasing standards. “The time until required application of the new revenue standard is limited for most public companies (except for those who have already early adopted),” said SEC Chief Accountant Wesley Bricker,

  • PCAOB offers help with auditor report changes

    The Public Company Accounting Oversight Board has released staff guidance on the new audit reporting standard and is hosting webinars to help auditors with preparing the new reports. The guidance describes changes to the auditor’s report required this year, such as the form of the auditor’s report, disclosure of auditor tenure, a statement on auditor

  • PCAOB- Guía para el nuevo informe del Auditor

    PCAOB- Guía para el nuevo informe del Auditor

    Nota del Editor de AECHILE Se acompaña documento emitido el 4 de diciembre del 2017 con los cambios al informe.Contiene ilustraciones gráficas y comentarios La guía describe los cambios al informe del auditor requeridos , como la forma del informe del auditor, la divulgación de la duración del tiempo que lleva el auditor en la

  • New working drafts address 5 revenue recognition issues

    Working drafts for a total of five revenue recognition implementation issues in four industries were exposed Friday by the AICPA Financial Reporting Executive Committee. When completed, the drafts will be added to the AICPA’s revenue recognition guide. The guide provides industry-specific considerations for implementation of FASB’s new revenue recognition standard. The working drafts include: –

  • La Voz del Mercado, Principales Resultados – EY

    La Voz del Mercado, Principales Resultados – EY

    Descargar pdf ( 1.5 mb)  

  • ALCABALA

    *Apunte histórico del Sr. Carlos Valdivieso Estimados lectores Para este apunte he tenido como fuente material de SCRIBD y documentos propios. Hoy 1 de diciembre se cumplieron 372 años desde la implantación en Chile de la alcabala que era un impuesto a la agricultura, la incipiente industria y las actividades comerciales. Era como el IVA

  • IAASB AND WBCSD TEAM UP TO INCORPORATE SUSTAINABILITY INTO MAINSTREAM REPORTING

    Author: Federica Tedeschi Published: 24 Nov 2017 Email Print The International Auditing and Assurance Standards Board (IAASB) has agreed to collaborate with the World Business Council for Sustainable Development (WBCSD) to support their project to incorporate sustainability into mainstream reporting. The WBCSD has decided to fund the IAASB’s support of its Redefining Value project stating

  • FASB simplifying leases standard implementation

    FASB simplifying leases standard implementation By Ken Tysiac November 29, 2017 FASB decided Wednesday to make simplifications designed to reduce costs and decrease the challenges that financial statement preparers are facing as they implement the board’s new lease accounting standard. The board decided to issue an Accounting Standard Update (ASU) that will: 1- Provide an

  • Grand Theft Data: Uber Announces Almost 60 Million Accounts Compromised in Data Breach

    The CEO of the popular ride-sharing app, Uber, published a bombshell letter to the public yesterday, stating that two hackers had stolen information from almost 60 million driver and rider accounts in October 2016. The compromised personal information includes names, email addresses, driver’s license numbers, and mobile phone numbers. According to a statement from Dara

  • Attestation guidance for third-party due-diligence services for asset-backed securities

    A new statement of position issued by the AICPA Auditing Standards Board (ASB) provides practitioners with guidance for performing agreed-upon procedures attestation engagements related to third-party due-diligence services for asset-backed securities. The guidance is contained in Statement of Position 17-1, Performing Agreed-Upon Procedures Related to Rated Exchange Act Asset-Backed Securities Third-Party Due Diligence Services as

  • La acuñación de monedas en Chile

    *Apunte histórico del Sr. Carlos Valdivieso Estimados lectores. Como es sabido el Banco Central de Chile eliminó la acuñación de monedas de $ 1 y $ 5. Repasemos algo de la historia. Mientras preparaba este apunte tenía en mente el blockchain una moneda virtual, tiempos modernos. El historiador don Francisco A Encina en el tomo

  • Catálogo de Esquemas Tributarios

    Catálogo de Esquemas Tributarios

    Nota del Editor de AECHILE El Servicio de Impuestos Internos (SII) actualizó en su página web el catálogo con ejemplos de esquemas tributarios en los que podría aplicarse la Norma General Antielusión. Se trata de una guía de consulta con ejemplos para evaluar si constituyen planificaciones agresivas o elusión. Con todo, el lector debe analizar

  • ¿Cómo percibe el mercado los gobiernos corporativos de las empresas?

      Ver artículo El Mercurio:  desde aquí      

  • Practical considerations for lease accounting

    -On the heels of a transformative and challenging revenue recognition standard, FASB’s new lease accounting standard presents a potential tsunami of changes to the financial statements of public and private companies. In February 2016, FASB issued new lease accounting guidance in Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842). This new guidance was initiated

  • FASB combines guidance for income statement, comprehensive income into one topic

    In an effort to simplify its Accounting Standards Codification, FASB has combined its guidance for income statements and comprehensive income into one topic. Previously, FASB’s guidance on these subjects has been located in Topic 225, Income Statement, and Topic 220, Comprehensive Income. Under the changes, all guidance on both subjects will be contained in Topic

  • Encouraging the Reporting Of Misconduct

    Encouraging the Reporting Of Misconduct

    Nota del Editor de AECHILE Respecto al documento que se acompaña comentamos lo siguiente: En noviembre de 2017, en un esfuerzo por comprender mejor los factores que impiden la denuncia de mala conducta, la Colaboración Antifraude formada por: el Centro de Calidad de Auditoría (CAQ), Financial Executives International (FEI), el Instituto de Auditores Internos (IIA)

  • Primeras elecciones presidenciales en Chile

    Estimados lectores Este próximo fin de semana tendremos elecciones de : Presidente, algunos Senadores, Diputados y CORES. Veamos algo de la historia. “Las primeras elecciones que se realizaron en el país fueron en diciembre de 1810, en las que se eligió el primer Congreso Nacional. Sin embargo, la guerra de independencia y las luchas entre distintas facciones internas

  • Less is More or More is More? Differences in the Regulatory Ethos in the US and the UK Pose Challenges for Financial Institutions

    United Kingdom, USA November 15 2017 The United States is poised to usher in an era of decreased regulation of financial institutions while the trend in the United Kingdom is to maintain relatively robust regulation of the financial services sector in line with developments since the global financial crisis. The parameters and potential impacts of

  • Los cambios que traerá la Comisión para el Mercado Financiero (CMF) – 15 Nov. 2017

    Los cambios que traerá la Comisión para el Mercado Financiero (CMF) – 15 Nov. 2017

    Descargar pdf ( 741 kb)

  • Audit fee increases don’t lead to better audit quality, says study

    Increases in audit fees paid by public companies aren’t necessarily producing better audit quality, according to a new report. The study, conducted by Lili Sun, an associate professor of accounting at the University of North Texas, Michael Ettredge of the University of Kansas and Matthew Sherwood of the University of Massachusetts Amherst, examined audits of

  • PCAOB identifies 3 areas with most frequent 2016 audit issues

    PCAOB inspectors identified three areas where audit deficiencies were most frequently identified in 2016, according to a board staff inspection brief published Friday. The areas with most common deficiencies were: – Assessing and responding to risk of material misstatement. For example, in some cases the auditor did not perform tests of details specifically related to

  • La Caída del Muro de Berlín

    *Apunte histórico del Sr. Carlos Valdivieso Estimados lectores Hace 28 años el 9 de noviembre de 1989 se abrió el muro de Berlín que se había empezado a levantar el 13 de agosto de 1961 por la Unión Soviética, o sea, duró 28 años y curiosamente ya van 28 años sin muro en que culminando

  • AICPA Exposure draft Proposed Statements on Auditing Standards

    AICPA Exposure draft Proposed Statements on Auditing Standards

    Nota del Editor de AECHILE El documento que se acompaña emitido por Auditing Standards Board de AICPA es un borrador con consultas hasta noviembre 2017 se relaciona con el Nuevo Informe del Auditor.Plantea modificar las SAS que se enumeran con un enfoque de convergencia con las ISAs que como se sabe son conjuntos distintos. Se

  • Revised Cash Basis IPSAS

    The International Public Sector Accounting Standards Board (IPSASB) has issued a revised IPSAS, Financial Reporting under the Cash Basis of Accounting. The amendments address some of the main barriers to adoption of this standard. This revised version of the Cash Basis IPSAS implements the proposals made in Exposure Draft 61, Amendments to Financial Reporting under

  • Why the SEC says ‘paid-to-click’ arrangements may be scams

    By Ken Tysiac November 7, 2017 The SEC issued an investor alert Tuesday warning of the dangers of “paid-to-click” scams perpetrated by fraudsters on the internet. According to the SEC, online paid-to-click programs often promise to pay investors simply for clicking online ads. These programs may promise investors a share of profits in exchange for

  • Deloitte’s Engelbert on the three trends changing the profession

    Three significant factors are shaping the profession of the future, Cathy Engelbert, CEO of Deloitte, told a gathering of accountants recently: the impact of new technologies, new demographics, and new client demands. “We’re living in a time of unprecedented change and innovation,” the Big Four firm CEO told the 110th annual meeting of the National

  • Entrevista CAQ al Sr Frank Casal de KPMG

    Entrevista CAQ al Sr Frank Casal de KPMG

    Video de entrevista reciente CAQ al Sr Frank Casal Vicepresidente de Auditoría de KPMG.Es interesante, se refiere al nuevo informe del Auditor, a la tecnología y otras materias.

  • DÍA DE TODOS LOS SANTOS Y EL CEMENTERIO GENERAL

    *Apunte histórico del Sr. Carlos Valdivieso Estimados lectores El pasado 1 de noviembre se celebró el día de todos los Santos, fecha que las personas suelen concurrir a los cementerios; veamos algo de ese día y del  origen  del Cementerio General, que es el principal de Santiago. El día 1 de noviembre fue establecido por

  • PCAOB’s Franzel leans toward issuing blockchain and data analytics guidance

    The Public Company Accounting Oversight Board is likely to issue guidance on the use of blockchain and data analytics technology as more auditing firms weigh the benefits and drawbacks of them. Speaking at the National Association of State Boards of Accountancy annual meeting in New York on Tuesday, PCAOB member Jeanette Franzel discussed the need

  • Audit Committe – Transparency barometer

    Audit Committe – Transparency barometer

    Nota del Editor de AECHILE Como introducción al documento en inglés que se acompaña he tomado la misma  de CAQ y llevada al español con traductor automático para nuestros lectores de habla hispana Washington, DC – La cantidad de información disponible para los inversionistas y otras partes interesadas sobre la supervisión del comité de auditoría del

  • Gestión de ASG y su rol crucial para un buen gobierno corporativo

      Vea el contenido desde el siguiente link: Ver nota de El Mercurio

  • PCAOB audit report standard welcomed by investors

    A prominent investor group is applauding the Securities and Exchange Commission’s approval this week of the Public Company Accounting Oversight Board’s new standard expanding the scope of the audit report. The SEC commissioners unanimously approved the PCAOB standard Monday, which would be the most significant change to the format of the audit report in over

  • SEC approves PCAOB expanded audit report standard

    October 23 2017, 6:16pm EDT The Securities and Exchange Commission gave its approval Monday to the Public Company Accounting Oversight Board’s new standard for an enhanced audit report. The PCAOB voted to approve the new standard in June, expanding the scope of the audit report to include a discussion of “critical audit matters” that have

  • Creación de la provincia de Valparaíso

    *Apunte histórico del Sr. Carlos Valdivieso En un día como hoy, hace 175 años  el  27 de octubre de 1842 años se creó la provincia de Valparaíso con los departamentos de :Valparaíso, Quillota y Casa Blanca con Valparaíso como capital y puerto . No hay certeza de la fecha  de su fundación, algunos dicen  cerca 

  • Accountants’ role in managing AI disruption

    By Ken Tysiac October 22, 2017 Artificial intelligence (AI) could have wide-ranging effects on the accounting profession. Tax return preparation duties and audit procedures that are performed now by accountants may be increasingly handled by machines in the near future. Robo-advisers have established a foothold in personal financial planning, and management accountants have incredible opportunities

  • Chile y las estampillas

    *Apunte histórico del Sr. Carlos Valdivieso Estimados lectores Hace un tiempo tomé un taxi y conversando con el taxista me dijo se había jubilado de Correos Chile y comprado un taxi para trabajarlo. Me comentó que ahora se escriben pocas cartas y que la mayoría son de empresas, bancos principalmente y que Correos Chile ha

  • Cuando todos los accionistas son cruciales en la toma de desiciones

    Ir al Link de El Mercurio

  • Senators ask FASB to require multinationals to disclose more tax info

    A group of seven Senate Democrats and one independent has written a letter to the Financial Accounting Standards Board asking FASB to require multinational corporations to disclose their taxes, profits, and revenues on a country-by-country basis, echoing a recent letter from a group of House lawmakers. The group who signed last week’s letter includes Sen.

  • SEC moves to simplify disclosures

    The Securities and Exchange Commission voted to propose a number of amendments to simplify some disclosure requirements for public companies, along with investment advisers and investment companies. The proposals are in keeping with some of the provisions of the Fixing America’s Surface Transportation Act, or FAST Act, which aim to make adjustments to streamline the

  • Establece Autoevaluación de Principios de Conducta de Mercado en Entidades Aseguradores y Corredores de Seguros.

    Establece Autoevaluación de Principios de Conducta de Mercado en Entidades Aseguradores y Corredores de Seguros.

    Descargar pdf (6.2 mb)        

  • 12 October 2017 International Accounting Standards Board issues narrow-scope amendments to IFRS 9 and IAS 28

    The International Accounting Standards Board (Board) has today issued amendments to IFRS 9 Financial Instruments and to IAS 28 Investments in Associates and Joint Ventures to aid implementation. The amendments to the financial instruments Standard, IFRS 9, allow companies to measure particular prepayable financial assets with so-called negative compensation at amortised cost or at fair

  • Voices Goodwill Hunting: Elimination of Step 2 and the implications for public companies

    In Accounting Standards Update No. 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, the Financial Accounting Standards Board eliminated Step 2 of the goodwill impairment test. In the Step 2 test, an entity performs a hypothetical purchase price allocation to determine the amount of an impairment. With the elimination

  • Los Geoglifos

    *Apunte histórico del Sr. Carlos Valdivieso Estimados lectores: Ordenando mis apuntes me encontré con algo que tenía archivado hacía tiempo;,los geoglifos; Creo que es un tema poco conocido y quise compartir un poco  con ustedes de un arte originado hace unos 3.000 años atrás y cómo los pueblos de entonces querían representar sus ideas y

  • What to consider when auditing revenue recognition implementation

    In a staff audit practice alert issued Thursday, the PCAOB provided information for auditors to consider as they apply the board’s standards to auditing of clients’ implementation of FASB’s new revenue recognition standard. The new revenue recognition standard takes effect in 2018 for public companies and the following year for nonpublic companies. Companies implementing the

  • CAQ Alert #2017-04 – Select Auditing Considerations for the 2017 Audit Cycle

    CAQ Alert #2017-04 – Select Auditing Considerations for the 2017 Audit Cycle

    October 11, 2017 Nota del Editor de AECHILE CAQ ( Center for Audit Quality ) ha publicado el documento que se acompaña con los temas principales a abordar en el ciclo de auditoría 2017 CAQ Alert #2017-04, Select Auditing Considerations for the 2017 Audit Cycle, reminds member firms of important auditing considerations for the 2017 audit

  • Basel III Treatment of DTAs and MSAs

    Bryan Cave LLP We have heard, read and seen (and internally had) some confusion regarding the joint proposed rulemaking regarding the potential simplification of the capital rules as they relate to Mortgage Servicing Assets (MSAs) and certain Deferred Tax Assets (DTAs). In addition to simply being complicated regulations, the regulators also have two proposed rulemakings

  • Dancing with disruption Have you mastered the steps?

    A forward look at Internal Audit in Banking and Securities Nota del Editor de AECHILE Se acompaña documento de Deloitte en un tema que ha venido teniendo cada vez más importancia. Descargar pdf 748 kb

  • Isla Guam

    *Apunte histórico del Sr. Carlos Valdivieso Estimados lectores Las relaciones entre EEUU y Corea del Norte son  noticia permanente; pues bien, la isla de Guam cercana a Corea del Norte es un protectorado norteamericano; les comento algo de ella; he tenido como fuente National  geographic magazine y documentos de la web de los que obtenido

  • FASB proposes various minor changes to codification

    By Ken Tysiac October 3, 2017 FASB issued a proposed Accounting Standards Update on Tuesday that would make changes designed to clarify, correct errors in, or make minor improvements to the board’s Accounting Standards Codification. Nine potential amendments are contained in the proposal, which would affect a wide variety of topics in the codification. The

  • 20 revenue recognition working drafts issued by FinREC

    By Ken Tysiac October 2, 2017 Considerations for implementation on 20 issues related to revenue recognition were issued as working drafts Monday by the AICPA Financial Reporting Executive Committee (FinREC). After receiving public comment on the issues, FinREC will add them to the revenue recognition guide it is developing, which discusses implementation issues on an

  • SEC Provides Regulatory Relief and Assistance for Hurricane Victims

    Press Release FOR IMMEDIATE RELEASE 2017-181 Washington D.C., Sept. 28, 2017— The Securities and Exchange Commission today announced that it is providing regulatory relief to publicly traded companies, investment companies, accountants, transfer agents, municipal advisors and others affected by Hurricane Harvey, Hurricane Irma, and Hurricane Maria.  The loss of property, power, transportation, and mail delivery

  • El presupuesto de Chile de 1891 y la Guerra Civil

    *Apunte histórico del Sr. Carlos Valdivieso Estimados lectores El próximo 30 de septiembre vence el plazo para que  el Ejecutivo  envíe  al Congreso Nacional el Presupuesto de la Nación de  2018 Recordemos en otro contexto histórico   lo ocurrido hacia fines de 1890 “Durante el gobierno del Presidente José Manuel Balmaceda, en 1890, y en medio de

  • FASB proposes technical corrections to 2 standards

    By Ken Tysiac FASB issued an exposure draft Wednesday that contains proposed technical corrections and clarifications for separate standards issued in 2016 on accounting for financial instruments and lease accounting. In Accounting Standards Update (ASU) No. 2016-01, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities, FASB made targeted improvements to

  • Voices PwC reveals 5 crucial characteristics of auditors

    By Maria Moats    /    September 28 2017 Today we’re celebrating #AuditorProud—a day when we reflect across our industry about the important work of public company auditors. There’s so much to be proud of in our profession, but I’d like to focus on five characteristics that epitomize auditors and are particularly worth celebrating. 1. Auditors are

  • PCAOB revises proposal on supervision of other auditors

    By Ken Tysiac The PCAOB is revising its proposal that spells out requirements for a lead auditor to supervise other auditors, and voted Tuesday to seek additional comments on the proposal. The board is seeking to strengthen existing requirements and create a more uniform approach to a lead auditor’s use of other auditors from other

  • Acceso a la información: factor clave en la toma de decisiones del directorio

    Ver el artículo completo desde este link:     http://impresa.elmercurio.com/Pages/NewsDetail.aspx?dt=2017-09-28&dtB=28-09-2017%200:00:00&PaginaId=11&bodyid=2

  • FASB proposes lease accounting changes for land easements

    The Financial Accounting Standards Board has a proposed accounting standards update to clarify how to apply its new lease accounting standard to land easements. Often referred to as “rights of way,” land easements govern the right to cross, access or use someone else’s land for a particular reason. Organizations use a variety of ways to

  • PCAOB to Hold Open Meeting Sept. 26

    The Public Company Accounting Oversight Board will hold an Open Meeting on Tuesday, September 26, at 9 a.m., to consider issuing a supplemental request for comment on certain revisions to new requirements proposed last year that would apply to audits that involve auditors outside the firm issuing the audit report. In many audits, important audit

  • FASB proposes clarified guidance on consolidations

    The Financial Accounting Standards Board has released an exposure draft of proposed guidance aimed at clarifying the consolidation guidance in Topic 810. Stakeholders had raised concerns that the current guidance was “difficult to understand and navigate,” according to the board, so it has proposed a number of amendments that would reorganize and clarify certain items.

  • El Rodeo

    *Apunte histórico del Sr. Carlos Valdivieso Estimados lectores, estos días no solamente se practicó el rodeo, también fue fuente de polémicas; va algo del rodeo que he obtenido de varias fuentes que cito textualmente. “El  rodeo nace en Chile  en el siglo XVI  ​ En esos años el ganado que había en Chile no estaba bien identificado

  • What’s next for FASB

    By Ken Tysiac September 21, 2017 FASB voted Wednesday to work on developing accounting rules to address areas of distinguishing liabilities and equity, financial performance reporting, and segment reporting. After considering feedback on a yearlong agenda consultation project, FASB added these items to its technical agenda: – A project on distinguishing liabilities and equity that

  • COSO framework can help with sustainability reporting

    More in CSR reporting ESG Internal controls Jeff Thomson IMA SASB The Committee of Sponsoring Organizations of the Treadway Commission’s internal control framework can help provide more assurance to investors about sustainability reporting by companies, according to a new paper. The report, co-written by Institute of Management Accountants president and CEO Jeff Thomson, former Financial

  • Proposed omnibus SSARS addresses international reporting issues

    By Ken Tysiac September 14, 2017 A new omnibus standard proposed Thursday would, if issued as a final standard, provide requirements and guidance for compilations and reviews of financial statements prepared in accordance with a financial reporting framework generally accepted in another country—or performed in accordance with both the Statements on Standards for Accounting and

  • FASB sets up web page for implementing new standards

    The Financial Accounting Standards Board has created a new web page to help companies implement its new standards. FASB has been rolling out a series of important new accounting standards in recent years, including revenue recognition, leasing, credit losses and hedging, and they are set to take effect over the next few years. Companies have

  • Chinganas, ramadas y fondas

    *Apunte histórico del Sr. Carlos Valdivieso Estimados lectores Siguiendo con apuntes diecio cheros va algo sobre, chinganas, ramadas y fondas, parientes entre sí. He consultado como fuente el documento  “Memoria Chilena  Biblioteca Nacional de Chile (1)”. El documento  “Historia de las Fondas, ramadas y chinganas  de Flashback man” (2) y otros documentos de la web

  • El nuevo informe del Auditor- Comparación de normas del IAASB y el PCAOB

    El nuevo informe del Auditor- Comparación de normas del IAASB y el PCAOB

    Nota del Editor de AECHILE El CAQ – Center for Audit Quality en su Technical Alert de agosto pasado alude a los documentos que acompaña el Link El informe de IAASB  para quienes lo siguen, principal aunque no exclusivamente en Europa es obligatorio desde diciembre 2016. El de PCAOB  principalmente EEUU  está a la espera

  • Principios y relación con el marco de gobernanza del riesgo EY

    Ir al Contenido de la noticia desde el link original: Noticia El Mercurio    

  • Voices FASB’s clarification of the definition of a business has wide implications

    A recent accounting standards update helps entities evaluate whether transactions should be accounted for as acquisitions or disposals of assets or as businesses. The Financial Accounting Standards Board’s Accounting Standards Update 2017-01 “Business Combinations (Topic 805): Clarifying the Definition of a Business,” states that a business has the following: 1. Inputs; 2. Processes applied to

  • Presentación “Conducta de Mercado: Agenda regulatoria y desafíos para un desarrollo sustentable del sector asegurador” – Intendente Daniel García

    Presentación “Conducta de Mercado: Agenda regulatoria y desafíos para un desarrollo sustentable del sector asegurador” – Intendente Daniel García

    Nota del Editor de AECHILE Se acompaña presentación efectuada en la Conferencia Latinoamericana de Limra y Loma “Desafíos en la Comercialización y Distribución de Seguros de Vida y Planes de Pensiones” (11/09/2017)   Descargar PDF (1 MG)

  • Proposed Revisions to the Code Pertaining to the Offering and Accepting of Inducements

    Proposed Revisions to the Code Pertaining to the Offering and Accepting of Inducements

    Nota del Editor de AECHILE Se acompaña documento emitido IESBA relativo a regalos, hospitalidad y otros para los auditores externos. el que estará en consulta hasta el 8 de diciembre del 2017 esperando se aplique el primer semestre del 2018.Esto se agregará al Código de Etica; como podrán apreciar la norma general es que el

  • Cyber Espionage: What You Don’t Know Can Hurt You

    Modrall Sperling Cyber espionage adds a unique element to the relationship between a business and its legal counsel. If your business possesses privileged information that would be useful for a competitor or an industry, then it is crucial that you obtain the best advice possible on what factors pose a threat to your business. There

  • Internal control weaknesses correlate with financial fraud

    The study, by professors Matthew Ege of Texas A&M University and Dain C. Donelson and John M. McInnis of the University of Texas at Austin, found the incidence of fraud disclosures at companies previously found by auditors to have material weaknesses in their internal controls is approximately 80 to 90 percent greater than companies on

  • El Volantín

    *Apunte histórico del Sr. Carlos Valdivieso Estimados Lectores Comparto con Ustedes que el pasado fin de semana y aprovechando el solcito,  salí a caminar cerca de mi casa para relajarme y en un espacio abierto  vi un  niño elevando un  volantín, lo que es común en este mes de septiembre; mientras lo miraba con envidia,

  • Updated COSO ERM framework ties in risk with strategy

    The Committee of Sponsoring Organizations of the Treadway Commission (COSO) on Wednesday released an updated risk framework that highlights the importance of enterprise risk management’s (ERM’s) role in strategic planning. The framework, Enterprise Risk Management—Integrating With Strategy and Performance, builds on 2004’s Enterprise Risk Management—Integrated Framework. “The complexity of risk has changed, new risks have

  • FASB releases proposed 2018 reporting taxonomies

    By Ken Tysiac September 5, 2017 FASB on Tuesday released the proposed 2018 GAAP Financial Reporting Taxonomy and the proposed 2018 Shared Reporting Taxonomy for public comment. Public issuers registered with the SEC use the taxonomies for their financial reporting. The proposed GAAP taxonomy contains updates for accounting standards and other recommended improvements. The proposed

  • El Nuevo COSO ERM

    El Nuevo COSO ERM

    6 de septiembre de 2017 Nota del Editor de AECHILE Se acompaña introducción  con traducción automática al español para nuestros lectores de habla hispana del artículo publicado hoy por accounting TODAY   El Comité de Organizaciones Patrocinadoras de la Comisión Treadway lanzó el miércoles una actualización tan esperada a su Marco de Gestión de Riesgos: Integrar

  • Basel Committee on Banking Supervision and IFRS Foundation sign Memorandum of Understanding

    05 September 2017 The Basel Committee on Banking Supervision (BCBS) and the IFRS Foundation have announced a new cooperation agreement to foster long-term financial stability, enhance market discipline and further develop sharing of information. The agreement, in the form of a Memorandum of Understanding (MoU), formalises the mutual interaction and strengthens the existing relationship between

  • EU COMPANIES LATE ON IMPLEMENTING BIGGEST SHAKE UP OF DATA PROTECTION LAWS

    Author: Stephanie Wix Published: 4 Sep 2017 General Data Protection Regulation (GDPR) will come into force in the European Union (EU) member states on 25 May 2018, affecting the way in which all organisations collect and store personal data. GDPR will apply to any organisation (including charities) holding or processing EU personal data and it

  • El ábaco y la contabilidad

    *Apunte histórico del Sr. Carlos Valdivieso Estimados lectores Comparto con ustedes que recientemente debí cambiar mi viejo celular BlackBerry con teclas físicas que me acomodaban porque ya no le dan servicio por un celular touch como el que deben usar Uds. Curiosamente y después de muchos años que no habían lanzado nuevos modelos,hace pocos días

  • Calidad de gobierno corporativo: rentabilidad y estrategia de negocio

    El Mercurio Sección: Ediciones Especiales – Gobierno Corporativo El camino al desarrollo sostenible de las empresas Nota del Editor de AECHILE El artículo completo de EY con sus gráficos puede leerse el El Mercurio del 31 de agosto 2017 página B9 a Definir el propósito de la empresa con respecto a su entorno más amplio

  • PCAOB Staff Inspection Brief

    PCAOB Staff Inspection Brief

    Nota del Editor de AECHILE Tomando el comentario de AccoluntongToday on traducción libre al español, el documento se refiere a que la Junta de PCAOB publicó un documento el miércoles ofreciendo información sobre las principales áreas que sus inspectores están buscando durante sus visitas a las firmas de auditoría este año El documento tiene como objetivo

  • Boarding Complete: An Islamic Rendering

    STA Law Firm Ltd Global August 26 2017 Part I of II Islamic Principles not only lay guidance on the relationship between man and God but also provide directives on a system of transactions for dealings between man and man to lead a life in an Islamic way. Such Islamic jurisprudence referred to as “Shariah,

  • Deloitte Audit committee disclosure in proxy statements—2017 trends August

    Deloitte Audit committee disclosure in proxy statements—2017 trends August

    Introducción del Editor de AECHILE El documento de Deloitte emitido en agosto 2017 informa respecto a 100 empresas de S&P y las materias tratadas en sus Comités de Auditoría ; tembién alude al nuevo informe del auditor emitido por PCAOB y que está a la espera de su aprobación por la SEC. Descargar pdf (

  • Study supports PCAOB oversight in boosting investor confidence

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