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ACCA Signs Contract with Summit Consulting Group for Provision of on-demand Examinations

KARACHI (July 11, 2011) – ACCA (the Association of Chartered Certified Accountants), the global body for professional accountants, has signed a contract with Summit Consulting Group to deliver all ACCA examinations online through an innovative eAssessment programme. The contract with Summit means that ACCA’s move to online delivery will bring greater choice and access for employers and students around the ...

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AICPA Recommends IRS Tax Return Preparer Competency Exam Focus on Basic Knowledge to Prepare Returns

Washington DC (July 07, 2011) – The American Institute of Certified Public Accountants (AICPA) has recommended to the US Internal Revenue Service (IRS) that the competency examination for prospective registered tax return preparer candidates should test the basic knowledge and skills required to assist individuals in filing accurate tax returns. “The content of the examination should be based on an ...

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CPA’s Survey Shows CFOs Compensation Set to Rebound

NEW YORK (June 30, 2011) – Good news could be on the horizon for many CFOs of U.S. companies. After a downward trend between 2008 and 2010, the forecast is that CFO total compensation will show a substantial improvement in 2011 at both private and public companies according to the 2011 CFO Incentives and Compensation Survey  conducted by Michal Matejka, ...

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AICPA Publishes New Attest Guidance for Reporting on Controls at a Service Organization

NEW YORK (June 29, 2011) – As companies take advantage of new technologies, such as cloud computing, and increasingly outsource functions to service organizations, these companies are requesting information and assurance that will enable them to assess and address the risks associated with an outsourced service. The American Institute of CPAs has issued new guidance that enables CPAs to provide ...

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Salient Features and Highlights of the Federal Budget 2011-12

ISLAMABAD (June 03, 2011) – The federal budget for the fiscal year 2011-2012 was announced on Friday. Following are its salient features and highlights: The total outlay of budget 2011-12 is Rs.2767 billion. The size is 14.2 per higher than the size of budget estimates of 2010-11. The resource availability during 2011-12 has been estimated at Rs. 2463 billion against ...

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Highlights of the Economic Survey of Pakistan 2010-11

KARACHI (June 02, 2011) – The Ministry of Finance has today released the annual Economic Survey for the year 2010-11 which reports on the performance of the Pakistani economy. Following are its salient features and highlights. 01. GROWTH AND INVESTMENT The Real GDP is estimated to grow at 2.4 percent on the back of strong performance of services sector as ...

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CPA Outlook Index Declines in Q2 as US Economic Optimism Wanes, Job Growth Stalls: AICPA Survey

New York, N.Y. (June 02, 2011) – According to the latest AICPA’s Economic Outlook Survey, chief financial officers, controllers and CPAs in executive and senior management accounting roles are far less optimistic now about the direction of the U.S. economy than they were in the first quarter of 2011. The CPA Outlook Index, a broad-based composite index that captures the ...

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AICPA and CIMA Agree to Offer New CGMA Designation

LONDON / WASHINGTON, DC. (May 23, 2011) – The governing bodies of the American Institute of Certified Public Accountants (AICPA) and the Chartered Institute of Management Accountants (CIMA), headquartered in London, today agreed on creation of a new professional designation, the Chartered Global Management Accountant, that will be a worldwide standard of professional excellence in management accounting. With approval now ...

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Audit Changes Must be Meaningful and Not Superficial: ACCA Policy Paper

KARACHI (May 20, 2011) – ACCA, in a policy paper Audit under fire: a review of the post-financial crisis inquiries, addresses the issues which have been raised during investigations by the UK House of Lords, the European Commission and the US senate. In Singapore and elsewhere, regulators are also actively engaged in stakeholder consultations to assess how audit can be ...

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Employers Rate ACCA the Leading Global Accountancy Body: Independent Survey

KARACHI (May 09, 2011) – ACCA (the Association of Chartered Certified Accountants) has been rated as the leading global professional accountancy body in reputation, influence and size by employers around the world more frequently than any other professional accountancy body, according to an independent survey of 1,300 employers in 20 countries. This finding shows that ACCA is widely recognised for ...

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