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Opportunities and Threats July 2014 Issue 539 www.InternationalAccountingBulletin.com Opportunities and threats in the Asia-Pacific region ● SEC and EY settle over audit independence lobbying breach ● IAB Awards finalists unveiled ● Uschi Schreiber exclusive interview ● South Korea country survey IAB 539.indd 1 25/07/2014 10:12:04 Give your students a business perspective of the world of accounting. Give your students access to content they can trust. Give your students the edge. Subscribe to The Accountant A subscription to The Accountant is the ideal accompaniment to an accountancy course of study. Including exclusive features and interviews with major figures in the accountancy sector, The Accountant will help your students to understand the real-world implications of the theory they are learning, and help improve their employability in a competitive jobs market. A weekly newswire gives you regular updates of all the big stories, while IP access means students can view our content anywhere with access to the student portal. Subscribe to The Accountant for: SIGN UP FOR THE FREE NEWSWIRE • IP access to our content. So your students can access our Get free weekly updates and free content. content campus-wide with one login Sign up here: • Content you can trust. We have 125 years of experience http://www.vrl-financial-news.com/system- delivering accountancy news. pages/headernav/free-news.aspxwww.theaccountant-online.com/newslet- ter-subscription • Truly global analysis. We cover a range of stories from around the world, so your students get a wide perspective of the sector. DON’T MISS OUT. Subscribe to The Accountant today. Contact our subscriptions team on +44(0)20+44 (0)20 7563 7406 56886615 or email us at [email protected] to find out more. www.vrl-financial-news.com IAB 539.indd 2 25/07/2014 10:12:04 International Accounting Bulletin COUNTRYEDITOR’S SURVEY LETTER CONTENTS Give your students a business NEWS 02-06 Leaders with a difference ■ PCAOB finds former PwC partner guilty of audit standards violation perspective of the world of ■ SEC and EY settle for $4m over auditor independence lobbying I’ve been doing this job for almost five years are important to the industry is that they ■ IAB Awards 2014 finalists unveiled and I should think the number of global serve as role models, which, for sure, she is. accounting. female executives I’ve interviewed during Her personality, and the story of her career this time is probably around a couple of so far, have the potential to go far in inspir- COMMENT 07 dozen. In comparison, the number of male ing women within the network, within Give your students access to leaders I’ve spoken to probably runs to a other firms and beyond. As I left our meet- O7: JULIAN FROST couple of hundred. So when the oppor- ing I thought about her words of advice to What does the global technology race tunity came along to meet and interview young people – “think big” – and how often mean for the profession? content they can trust. EY’s newly appointed vice-chair and global do many of us forget to do that? Especially markets leader Uschi Schreiber I was very as we so often get caught up with day-to- curious to meet her. The network, often day routines of our lives. FEATURES 08-11 shy of publicity for its senior leadership, Give your students O8-09: MALCOLM WARD has fast-tracked Schreiber’s career, who A different view on associations The former Grant Thornton International after a successful career in the Australian This month’s issue also features an inter- Asia-Pacific regional leader talks to Ana government sector decided to join the global view with Malcolm Ward who went from the edge. Subscribe to Gyorkos about his new role running the fifth-largest global association professional services giant’s Oceania firm. running Grant Thornton International’s 10-11: USCHI SCHREIBER Meeting Schreiber gave me first-hand expe- Asia-Pacific practice to becoming chief The Accountant The EY global vice-chair describes her rience of diversity within a large network executive of the fifth-largest association, career and future aspirations to Ana Gyorkos and showcased its importance. Her back- AGN International. Ward admits to initial ground is far removed from accounting; she scepticism about the association model, A subscription to The Accountant is the ideal accompaniment to an accountancy course of study. Including studied social work and special education but says he sees an opportunity to build COUNTRY SURVEYS 10-20 in Germany and later moved to Australia an alternative to the network model. He exclusive features and interviews with major figures in the accountancy sector, The Accountant will help and went on to build a successful career in believes he can build an organisation, which your students to understand the real-world implications of the theory they are learning, and help improve 12-16: ASIA-PACIFIC public sector leadership. Not your typical across the board offers a high-quality and Vincent Huck examines the opportunities Big Four global leader without mentioning efficient service to clients for a reasonable and threats available in the region their employability in a competitive jobs market. A weekly newswire gives you regular updates of all the big the fact that she’s female? At our meeting price. A bit like an EasyJet of the accounting stories, while IP access means students can view our content anywhere with access to the student portal. 16-20: SOUTH KOREA she spoke not only about business growth world perhaps? Read the full interview on Despite a blocked audit market the South and the strategy of the network, but also pages 8 and 9. Korean profession is looking to increase advisory services for international how important the role of the network is to I would also like to take the opportunity businesses says Vincent Huck wider communities and taking a proactive to congratulate all the finalists of the Inter- Subscribe to The Accountant for: role in light of global mega trends (read the national Accounting Bulletin Awards 2014 SIGN UP FOR THE FREE NEWSWIRE full interview on page 10 and 11). While (see the full list on page 6) and offer the best • IP access to our content. So your students can access our Get free weekly updates and free content. women have slowly begun to be appointed of luck on 16 September when the winners content campus-wide with one login to global leadership positions within profes- will be announced at the IAB Industry Sign up here: Editorial Advisory Board sional services, it’s still unusual to find an Forum in London. Kevin McGrath, Crowe Horwath • Content you can trust. We have 125 years of experience http://www.vrl-financial-news.com/system- International CEO outspoken leader looking to drive and influ- delivering accountancy news. Kevin Arnold, Nexia International CEO ence change not only within the network, pages/headernav/free-news.aspx Geoff Barnes, Baker Tilly International president and CEO but also beyond. Ana Gyorkos • Truly global analysis. We cover a range of stories from around Graeme Gordon, Praxity executive director Another reason why people like Schreiber [email protected] the world, so your students get a wide perspective of the sector. Stephen Jacobs, INPACT International president Jon Lisby, Kreston International executive director James Mendelssohn, MSI Global Alliance, executive chairman Christian Mouillon, EY gobal vice- chair, assurance Ed Nusbaum, Grant Thornton International CEO DON’T MISS OUT. Subscribe to The Accountant today. Michael Reiss von Filski, Geneva Group International CEO Contact our subscriptions team on +44(0)20 7563 5688 Liza Robbins, Morison International CEO Martin van Roekel, BDO International CEO or email us at [email protected] to find out more. Jean Stephens, RSM International CEO Robert Tautges, HLB International CEO Pauline Wallace, PwC head of public policy and regulatory affairs www.vrl-financial-news.com www.InternationalAccountingBulletin.com July 2014 y 1 IAB 539.indd 1 25/07/2014 10:12:05 NEWS ROUND-UP International Accounting Bulletin IAB ONLINE – JULY NEWS ROUND-UP Top 5 articles US adequately assessing whether an initial period of eight years EY finalises merger with KPMG PCAOB finds former PwC such accounting treatment and aims at delivering 15 to 20 complied with generally accepted projects a year. Denmark partner guilty of audit standards violation accounting principles, the PCAOB GLOBAL EY appoints over 600 partners The Public Company Accounting statement continued. Oversight Board (PCAOB) has EY appoints 675 partners globally UK issued a disciplinary order against globally KPMG UK invests £20m in big IAB Awards 2014 finalists named former PwC partner Randall Stone EY has promoted 675 of its staff for violating PCAOB rules and data analytics across the network’s member firms KPMG UK will invest £20m in a KPMG UK invests £20m in big data standards. to the role of partners and brought partnership with Imperial College analytics The order bars Stone from its total staff count to 190,000 London (ICL) to create a centre of associating with a registered globally. advanced business analytics. UK’s anti-money laundering public accounting firm for a The number of partners’ The KPMG Centre for Advanced minimum period of three years, promotions is the highest ever in regime can be improved: CCAB Business Analytics will develop after which he can appeal to have the network’s history and EY added new approaches, analytical Most retweeted article the bar lifted. Stone has also been that 26% of the new partners are methods and tools for using fined $50,000. women. IAB Awards 2014 finalists named big data to help UK businesses The order concludes the PCAOB The Americas saw the highest solve issues such as fraud disciplinary proceeding started number of promotions with 295 Read in 164 countries or understanding consumer in December 2012 which looked new partners appointed, including UK 32% behaviour.
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