A decision to supplement your accounting firm with non-certified accountants typically results from the combined effects of a small labor pool and increasing opportunities for growing your business. While adding non-CPAs keeps payroll expenses low and allows you to service more clients, its downside is increasing ethical challenges. Knowledge and training State licensing requirements underscore…
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What does it take to grow a business? An honest business requires a sound business model, hard-working employees, long hours, and a «can-do» attitude, right? Of course, there are companies that take a different route and uses incentives to bribe those in power, hoping it will fast track their success and provide new growth that…
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They’re everywhere, and they can help—but it’s not automatic. Here’s how to ensure your mission and values statements make a real impact. These days, corporate values statements are all over the place. Most large companies now post them online—and everywhere else from wall signage to wallet cards. Many include them as components of corporate training,…
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We hear a lot about different generations in the workplace – Traditionalists, Baby Boomers, Generation X, Millennials. But what does business ethics mean to them, and how do you engage them with ethical issues in the workplace? Understanding the different characteristics of the generations is fundamental in building a business culture founded on ethical values.…
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Consumers seek out socially or environmentally responsible brands and products. Today’s consumers expect companies to focus on more than the bottom line—addressing social and environmental issues is also important. According to March 2015 polling by Cone and Ebiquity, 91% of internet users worldwide expected companies to do more than make a profit. Such demand can actually affect…
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Attitudes among business leaders about the relationship between business and social change are shifting. On the one hand, executives understand that their businesses have an important role to play in solving social problems. On the other hand, the value of corporate social responsibility isn’t clear and many believe a new approach that delivers more return…
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Ever since the publication of Milton Friedman’s book; Capitalism and Freedom, there has been constant debate of corporate social responsibility and profits, both in the business world, as well as the academic field. The debates now transcend to another level, whether businesses exist for “reason” or profits. Put his argument in simplicity, Milton thinks that…
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Corporates have scrambled to meet their corporate social responsibility (CSR) obligations under the new Companies Act, 2013. This is not a surprise, as most companies have not regarded CSR as a business priority. The positive outcome is that the act has compelled an introspection. Jeremy Rifkin’s latest book, The Zero Marginal Cost Society, contains within…
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“The audit profession as a whole will be looked at to expand outside the domain of the historical financial statements,” says Deloitte & Touche CEO. Audits of publicly-traded companies should move beyond assuring the validity of financial statements and noting risk factors, and take into account insights derived by data analytics, artificial intelligence, and other…
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Earlier this month, the Nordic Federation of Accountants (NRF) published a consultation on a new Standard for Audits of Smaller Entities (SASE) that, if finalised, will apply in Norway, Sweden, Iceland, Finland and Denmark. We’re concerned about smaller entity audits Smaller entity audits have been a central ICAEW concern for over a decade. There has been a…
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