har jeg et stort behov for å gjøre alt annet enn det jeg bør gjøre. Det er nok ganske enkelt om man tenker over det, når det er noe man må/bør gjøre, ender det fort opp med at alt annet er interessant. Når jeg gikk videregående og eksamensperioden nærmet seg var det rundtvask og ommøblering av rommet som var den store tingen, jeg vet ikke helt om det var det mamma og pappa så for seg i det jeg med høye skuldre og senket hodet sakte seig inn på rommet som en annen fange, men rent og pent ble det i allefall. Det var en tåpelig unnskyldning for å slippe å lese, men når det er sagt er det langt værre ting jeg kunne tatt for meg. Som nå f.eks., så burde jeg sitte dypt i bøkene mine og finne usedvanlig viktige ting å si om innovasjonsledelse (siden jeg har hjemmeeksamen nå), men bloggen fristet mer akkurat nå. Så hva skal man da skrive om? Vel, det viktigste først, så da fyller man opp kaffekoppen, tenker at etter innlegget skal jeg bli übereffektiv, fyrer opp litt god musikk (idag ble det filter anno 2002) og synker sakte ned i stolen og håper resten av kollokviegruppen ikke for ofte kaster blikk bort på skjermen min…

Som jeg nevnte for en tid tilbake siden har jeg faktisk endt opp med jobb etter endte studier. Jeg skal bli revisor. Jeg skal ende opp som selve definisjonen på en “dress”. Jeg skal lære meg å se på regnskap og bokføringer og komme med kommentarer og innvendinger på alt som virker i grenseland. Jeg skal virke viktig, selv om jeg nok mest sannsynlig kommer til å være mest nervøs i flere år fremover. Jeg skal få brukt alle skjortene mine og dressbuksene med jevne mellomrom. Det eneste som kunne toppet det hele hadde nok vært om jeg endte opp som rådgiver, men så er det planen også i fremtiden, kanskje om to-tre år, med mindre jeg liker å revidere – det vil jo tiden vise. Som de fleste andre i ny jobb vet jeg ikke helt hva jeg går til, men det som er bra er at jeg har allerede takket ja til julebord med den nye jobben og for en stund tilbake siden var jeg på min første lønningspils med dem. Akkurat dette var genialt gjort av KPMG etter min mening. Nå vet jeg at jeg i det minste kommer til å kjenne noen av de jeg skal jobbe med når den tid kommer. Da er det plutselig ikke like skummelt å komme inn døren en våt og vindfylt morgen i august/september, men skummelt nok blir det vel likevel…

Tourism Victoria has emailed/mailed the official ballot packages for the 2010 Board of Directors and Destination Marketing Commission Election. Please watch for your ballot in your email inbox or in the mail.

 If you receive an email ballot, we ask that you take the time to cast your vote online. Each Member Company has been provided a username and password to log in to the electronic voting system.

The electronic election process will be open from November 4 to November 18, 2009 at 11:59pm.

Please note – once the process is closed, you will not be able to cast your vote. Once your vote has been submitted, you will not be able to login to re-cast or change your vote.

If you receive a mailed ballot, please be sure to use the official ballot and return postage-paid envelope only. Faxed, emailed, or ballots mailed in an envelope other than the one provided cannot be accepted.

All mailed ballots must be received by the KPMG auditors by 4:00pm on November 18, 2009.

If you have not received your ballot, or if you require assistance, please contact Executive Assistant, Amber Bonner at 250-414-6976.

Redacción: Enrique Duarte

En México más negocios creen que no es posible desarrollar una relación de amistad con Hacienda; la percepción en el país choca con la que se tiene en otras naciones de América Latina, según KPMG.

Las relaciones entre las empresas en México y las autoridades fiscales se van deteriorando cada vez más, al grado que estas unidades económicas confían menos en poder alcanzar una relación de mayor “amistad” con la encargada del cobro de los impuestos, según una encuesta regional de la consultoría KPMG.

Cada vez menos empresas mexicanas están preparadas para flexibilizar su relación con las autoridades fiscales, el año pasado un 85% de ellas estaba lista para proporcionar más información si el fisco flexibilizaba la regulación. Este año el porcentaje bajó a 80%.

En comparación con otras economías de América Latina, los negocios en México fueron los únicos que se vieron más reacios, ya que en Colombia 9 de cada 10 están dispuestos a proporcionar más información al fisco, en Chile la proporción subió de 60 a 70%, en  Perú de 33 a 90%, en Venezuela de 61 a 70% y en Brasil y Argentina quedaron en el mismo porcentaje de 90% y 70%, respectivamente.

A su vez, un 60% de las empresas mexicanas creen que no es posible desarrollar una mejor relación de confianza mutua con su autoridad fiscal, 31 puntos procentuales mayor a las del año pasado, mientras que las empresas de otras naciones como Argentina y Venezuela (50%) tienen esta misma percepción.

“El deseo y la energía para mejorar las relaciones están presentes en las empresas, junto con la creencia de que todo puede mejorar. Los Gobiernos tienen que construir sistemas fiscales más justos y más eficaces, esto tiene que ser la base”, dijo la encuesta Reacciones empresariales en América Latina ante la crisis y estrategias para la recuperación 2009 divulgada este miércoles en Santiago de Chile.

La relación de amistad la ha recomendado la Organización para la Cooperación y el Desarrollo Económicos (OCDE), a la par de sus señalamientos de luchar en contra de la evasión y elusión de impuestos.

Sin embargo, la opinión empresarial también exige cambios fiscales para apoyar a las autoridades. Según las 165 entrevistas realizadas por KPMG, un 23% de las empresas en América Latina esperan que sus gobiernos recorten los impuestos ante esta situación recesiva en la economía que han experimentado los países latinoamericanos en los últimos tres trimestres.

En la relación fisco-empresas resalta el caso de México, ya que recientemente el Congreso aprobó varias modificaciones tributarias como alza en la tasa del impuesto empresarial (ISR) y cambios en el Código Fiscal de la Federación para que la autoridad tenga “más dientes” para fiscalizar a los contribuyentes.

En concreto estos cambios prevén más fuerza al Servicio de Administración Tributaria (SAT), brazo fiscal de Hacienda, en cuanto a los embargos precautorios, acciones para ingresar al domicilio fiscal de los contribuyentes (más que nada a personas morales) y cobro de créditos fiscales (deuda) con base en las cuentas bancarias o de otras instituciones financieras, exceptuando los ahorros para el retiro.

Según la encuesta de KPMG, un 80% de las empresas en México están más propensas a cambiar su estrategia de negocio para el 2010 ante los cambios fiscales, en comparación con el 65% de Colombia y Venezuela, 64% de Argentina, 60% de Perú, 56% de Chile y 47% de Brasil.

El 24% de las empresas mexicanas dijo que la reducción de costos es la mejor experiencia que les dejó la recesión; mientras que una mejor preparación y planeación ante los cambios económicos obtuvo un 16%, según la encuesta de KPMG.

Fuente: CNNExpansión. Relación empresas-fisco, se deteriora

  Internet search giant Google has emerged as the most sought after company for business as well as engineering graduates, according to two surveys, which term the company as the world’s “most attractive employer” followed closely by rival, Microsoft.

According to the surveys compiled by global employer branding firm Universum, Google has been ranked at the top spot in the list of top 50 global businesses and engineering companies.

About Google, the surveys said, “Google’s number one position is no surprise. Due to its remarkable brand image, students worldwide see it as a company they would like to work for.”

The search giant is followed by Pricewaterhouse where most B-Schools students want to work, while engineering graduates preferred Microsoft as their second choice.

For business students, Microsoft is the third choice, financial services major Goldman Sachs Group is fourth, Ernst & Young (fifth), Procter & Gamble (sixth), J P Morgan (seventh), KPMG (eighth), McKinsey & Company (ninth) and Deloitte (10th).

“The employers that feature in this Top 50 all have one thing in common: they successfully appeal to current and future talent, and they are aware of how scarce talent is,” Universum said.

Soft drink major Coca-Cola has been placed at the 13th position, while Citigroup has cornered the 21st place for itself among the list for business students.

However, irrespective of ranks, the top 50 global employers for business and engineering students are very similar, showing strong employer brands transcend many skill and industry groups.

Conversely, Oracle and Philip Morris make it to the top 50 for business students, but not for engineering students. GlaxoSmithKline and Alcatel-Lucent appear in the engineering ranking, yet not in the business ranking.

Meanwhile, in the list of top 50 employers for engineering students Microsoft is followed by IBM at the third spot, BMW (fourth), Intel (fifth), General Electric (sixth), Sony (seventh), Siemens (eighth), Shell (ninth) and Procter & Gamble (10th).

However, despite it being one of the toughest years for car manufactures, BMW and Daimler appear in the global top 50 ranking in both lists.

The global rankings based on the survey of about 1,20,000 students highlights the world’s most powerful employer brands and those companies that are “the most successful in talent attraction and retention.”

Students from the US, Japan, China, Germany, France, the UK, Italy, Russia, Spain, Canada and India’s top academic institutions took part in the survey.

KPMG has released its annual global survey of corporate tax systems. For the 10th-consecutive year, the average corporate tax rate fell, and it is now down to 25.5 percent (just 23.2 percent in the European Union!).

In the United States, unfortunately, the corporate tax rates remains stuck at about 40 percent. Only one developed nation, Japan, has a more punitive regime.

Something to keep in mind the next time a politician complains that jobs are going to China (corporate tax rate of 25 percent).

by The Economic Times, Ocotber 27, 2009.

A ‘shadow board’ consisting of the brightest young minds has been formed at what is now Mahindra Satyam to serve as a wellspring of new ideas as its new owner looks to revitalise a company badly damaged by India’s worst corporate scandal, CEO CP Gurnani said in an interview with ET . Excerpts.

What are the key priorities for your company at this juncture?

Our priority is to improve finances, put in place a robust corporate governance structure and focus on customers and associates. Audit firm KPMG is working hard to restate past accounts and the Company Law Board has given us time till June 30, 2010 to complete the re-statement. We have also strengthened customer-focus by adding more value to services that we offer. The most difficult part is accepting a new culture. Our 35,000 employees now have direct access to the CEO. Today, while I report to a formal board, I have also created a shadow-board of youngsters…(continue reading)

an update, I didnt get KPMG. passed the numerical test but didnt pass the verbal reasoning test those tests are damn bloody hard!

just finished the Deloitte application.. hope that goes well.

spent the day doing nothing at all went to the city to satisfy my Nandos craving walked around for a bit after that. went to the market in Market Square, walked around Victoria centre for a bit. then settled down at Pitcher n Piano for some hot chocolate.

then walked home! i love Derby road. its covered in leaves. was so fun walking in the piles of leaves covering the pavement. yes yes i am weird

in other news, i swear i’ve nvr seen as many Ladybugs as i saw yesterday. seriously!!! my window was open and i caught 9 ladybugs when they flew in. NINE!!! and there was even one that hitched a ride on me to my lecture yesterday! it crawled down my arm as i was listening to the lecturer. and there were so many on the front door AND my windows! gosh yes yes, i am very jakun. but u dont get to see that many ladybugs in msia at all.

cheers!

NEW YORK, Oct. 22 /PRNewswire/ — A critical need for more revenue is causing many governments worldwide to turn increasingly to indirect taxes such as Value-Added Tax (VAT) as a source of funds, according to KPMG International’s latest annual survey of worldwide tax rates affecting businesses.

Findings from KPMG’s 2009 Corporate and Indirect Tax Rate Survey indicate that many countries increased their indirect tax rates particularly their VAT or Goods and Services Tax (GST) for 2009.

The survey also revealed that the long-term slide in tax rates on company profits came to a halt in many countries in 2009, with 86 percent of the 116 countries studied holding their rates at 2008 levels such as the United States at 40 percent or in some cases increasing them.

“These shifts present clear evidence of a major, and a potential long-term change in the way that many governments around the world are funded,” said Tim Gillis, partner-in-charge of KPMG LLP’s State and Local Tax practice. “For U.S. multinationals, it means that the management of indirect taxes will become much more important from a compliance, risk management and performance perspective.”

The United States is the only G20 country without a federal VAT or GST and has one of the world’s highest statutory corporate income tax rates.

“Here in the United States, indirect taxes already exist at the state and local level in the form of sales taxes,” said Gillis. “Now the possibility of a federal VAT is starting to be put forth as a potential revenue raiser to help address the fiscal void that exists between the country’s existing tax base and its largest deficit in history due to the economic recovery measures and the rising cost of entitlement programs.”

Indirect Taxes Contribute More Worldwide

In Europe, indirect tax rates rose from 19.5 percent for 2008 to 19.8 percent for 2009 and in Latin America from 15.9 percent in 2008 to 16.2 percent for 2009, according to the KPMG survey.

The KPMG survey also indicated that among Asia-Pacific countries there was a marginal drop in the indirect tax rate from 10.9 percent in 2008 to 10.8 percent in 2009, primarily due to a three percent VAT/GST cut in Sri Lanka.

More than 150 countries now have indirect tax systems and many governments that already have these systems are expanding or considering expanding the list of goods and services subject to VAT.

“Up until this year, taxes on corporate profits have tended to decline each year while indirect taxes have stayed roughly the same,” said Gillis. “Indirect taxes have quietly been contributing a larger and larger part of many government incomes.”

A Halt to Corporate Rate Declines

Commenting on the overall worldwide freeze on corporate tax rate declines this year, Hank Gutman, head of the Federal Tax Legislative and Regulatory Services group in KPMG LLP’s Washington National Tax practice, said: “While this may be a pause before competitive pressures continue to drive corporate tax rates lower worldwide, there are some clear signs that any further cuts are likely to be paid for by measures to broaden the tax base such as widespread restrictions on tax allowances and tighter enforcement.”

The KPMG survey shows that in Latin America, the average corporate tax rate this year was unchanged at 26.9 percent, the first time there has been no change in average rates since 2004.

In Europe, average rates stayed at 23.2 percent, the first time in 13 years that they have failed to fall year-on-year, the KPMG survey revealed.

Only in the Asia Pacific region has the average rate this year matched the cuts of previous years, falling from 28.4 percent in 2008 to 27.5 percent in 2009, according to the KPMG survey.

Gutman added: “Like many other governments worldwide, the United States is currently taking a look at actions to broaden the corporate tax base. What remains to be seen is whether the potential adoption of these measures will be accompanied by a rate cut. Depending on what unfolds, this may be a revenue raiser or revenue neutral. Businesses should certainly be aware of the proposals on the table and participate in the debate.”

Australian Business Expenditure on Research and Development (BERD) has jumped by 15 per cent, reaching $14,380 million in 2007-08, according to statistics released by the Australian Bureau of Statistics on 25 September 2009. Despite this, Australia’s BERD/GDP ratio of 1.27% still remains below the OECD average of 1.59%.

How will things play out in 2008-09? Everyone seems reasonably cautious with good reason, seeing how the impact of the Global Financial Crisis on R&D spending will be impossible to ignore. Two choice quotes:

It is important to remember that 2007-08 was a boom year – it will be difficult to maintain this momentum through the global recession. — Senator Kim Carr, Innovation Minister

Given the likely reduction in R&D spending in 2008/09 and 2009/10, as a consequence of the Global Financial Crisis, there is real concern that our performance will decline. — David Gelb, KPMG National R&D Partner

The EU has been aiming for quite awhile to raise Europe’s R&D spending to 3% of its GDP by 2010, with 2% of that consisting of BERD. From their 2006-07 numbers, it looks like GDP on R&D is still stuck at 1.87% . Not a particularly good sign, seeing how 2010 is just around the corner.

Note: Europe’s 3% goal is known as the “Lisbon target”, and was driven by the strategic goal to turn Europe into the most competitive and dynamic knowledge-based economy in the world. It is named so because it was adopted by the European Council when it met in Portugal nearly a decade ago.

by Mondo Visione, October 21, 2009.

The Norwegian Corporate Governance Board – NUES (Norsk Utvalg for Eierstyring og Selskapsledelse) – awards a prize every autumn to the company listed on Oslo Børs that the Board wishes to recognise for the quality its report on corporate governance in the previous year’s annual report. The purpose of the prize is to create a greater awareness of corporate governance in general, and to promote the Norwegian Code of Practice for Corporate Governance in particular. NUES also hopes that the award of an annual prize will serve to inspire listed companies that are looking to improve their corporate governance reporting.

NUES is supported in its work on identifying candidates for the prize by the accounting firms Deloitte, Ernst & Young, KPMG, BDO Noraudit and PricewaterhouseCoopers, all of which put forward companies for consideration. On the basis of the input provided by these firms, NUES has evaluated which company should receive this year’s prize. The Board was assisted in its evaluation of this year’s candidates by Finn Berg Jacobsen of BA-HR, and Arthur Sletteberg of Ferd AS.

In awarding the prize, the Board has paid particular attention to the following factors:

1. How well the board of directors has complied with the Norwegian Code of Practice for Corporate Governance which states at Section 1 that: “The board of directors must provide a report on the company’s corporate governance in the annual report. The report must cover every section of the Code of Practice. If the company does not fully comply with this Code of Practice, this must be explained in the report.”

2. The extent to which the overall presentation of the report helps shareholders and other parties to evaluate the company’s compliance with the principles of good corporate governance…(continue reading)

por Esteban Ramírez, para elfinancierocr.com en Deloitte, Setiembre 19, 2009.

La Bolsa Nacional de Valores (BNV), junto a un grupo de cámaras empresariales y asociaciones profesionales, trabajan en la creación del Instituto de Gobierno Corporativo, en Costa Rica.

El objetivo es que esta institución sirva como punto de enfoque para todas aquellas organizaciones públicas y privadas interesadas en el tema del gobierno corporativo.

Matthew Sullivan, director del Mercado Alternativa para Acciones (Mapa) –de la Bolsa Nacional de Valores–y presidente de la junta directiva de Instituto, comentó que los estatutos de la entidad fueron aprobados la semana pasada .

Se espera que en los próximos días quede formalizado el registro de la institución. En el marco de su lanzamiento se tiene prevista la primera charla abierta al público, el próximo 3 de setiembre , sobre los 10 retos principales de las empresas familiares…(continúe leyendo)

Something that I have noticed over the years is how insular the tax technology marketplace is within the UK. One of the hallmarks of this is the way in which two tax technologists meeting for the first time will engage in a discussion of tribes. It usually goes along the lines of …

A. “Hi, great to meet you, have you been doing this long?”
B. “Hi, you too. I’ve been doing this for ages. Started out in Organisation 1, spent a bit at Organisation 2 and then I moved here. How about you”
A. “Not so long but quite a while. Trained at Organisation 3, passed through Organisation 1, then back to Organisation 3 again.”

What we are all doing is establishing our credentials, checking for overlaps in common colleagues and establishing our membership or Tribes that we think say something about us that we believe is a positive trait of that tribe.

For me, there are a number of obvious Tribes. My own Tribe is, I guess, Andersen/Abacus. Having spent a formative decade with the Abacus team at Andersen (firstly as Arthur Andersen and laterly as Deloitte, though that’s another debate!) you can see a bright orange sphere within should you cut me across the middle (form an orderly queue on that one!)

Why do I still hold on to that Tribe? Well I am sure I like to think that it was the best place to work; clever people, well motivated, well rewarded. We created software and solutions that we were proud of, and which we believed were the best out there. The teams worked hard and played hard, and it was a family. Indeed, having recently seen a number of former colleagues due to the acquisition of Abacus by Thomson Reuters, it was amazing how easily and comfortably it felt family again.

Of course, I have no doubt that all the other Tribes feel very similar about their own shared places of work. TaxSoft is another such Tribe, and to hear TaxSoft people reminiscing about old times you can get a feel for the same elements of hard work & fun, of best times and of family. Are there people at CCH who are in the CCH Tribe, or do they feel they are an MYOB, Solution 6, Viztopia or earlier Tribe?

And do I have a new Tribe now? Does KPMG have a tax technology Tribe? Have I joined a Tribe with Digita? Do Digita & Abacus still have their own Tribes, or are they subsumed into a Thomson Reuters Tribe? Does time of service matter, does a Tribe have to be your first job, your longest job; indeed can you have many Tribes, or do you have to keep swapping

So, talk to me. Let’s have a Tribes side-thread for a little while. Help me to map out some main tribes. We are talking about Tribe Names, distinguishing marks, territories, behaviours and perhaps even some clan leaders. I’d also be interested to see how other Tribes characterized `the opposition`. Maybe Tribes will wither and die as a concept, and it will turn into a tax technology Family Tree? Who knows.

You know where I am.

Here is the latest white paper from KPMG called The Business Case for a Risk Executive: Leading Efforts to Avoid Surprises, Maneuver through Challenges, and Add Value. (See link below.)

Big title. Fortunately, the paper is only 12 pages in length when you include the canned metaphorical Getty images of the guy looking through binoculars and “business people” talking seriously in the hall. But I digress.

The paper summarizes what many risk practitioners already knew: before the recent economic crisis, what people thought was risk management was nothing but compliance, risk identification or audit and not the strategic tool enterprise risk management was intended to be.

Report reads: “… many organizations saw that they lack an integrated process for managing both emerging and high impact/low probability risks. They fight fires effectively after risk events occur, but have yet to focus on the future, anticipate potential scenarios, and consider how the organization should prevent or prepare for these risk events.”

Riskczar’s translation: they were doing nothing.

Some more revelations about organizations and their existing risk management from the report:

• They were not managing their strategic risks
• They did not identify, define and assign owners to their risks
• They did not define their appetite for risk enterprise wide
• They lacked a risk management champion with the authority to report risk across the organization

Riskczar’s translation: they were doing nothing.

The rest of the paper is quite good at explaining the need for a risk executive (RE). They break the silos of risk management, taking a holistic and strategic view of risk. A good RE makes sure that the President has no blind spots too. The risk executive idea is not a new idea either. (To learn more about this, read about the Chief Monitoring Officer in the book “Heads Up” by Kenneth McGee which is on my list of recommended books.)

I can speak to the need for a senior risk role first hand from two perspective:  I was accountable for building an ERM program for a large Canadian financial organization. And while the UK parent was keen about making ERM a systematic capability, there was little local management buy-in for the risk management process. Making my job more challenging, from a roles and responsibility perspective, I sat under the Head of Risk and Audit (ya, that’s right), who reported to the CFO. This structure did not work at all as the risk role was buried too far down the org chart.

On the flip side, the best job I ever had, from an org structure perspective, was when I had risk management oversight over the institutional equity trading business at HSBC Securities, about 10 years ago. I was hired by then CEO, Richard Nesbitt, currently the CEO of CIBC World Markets. Although my role was junior to CFO, COO and other VPs at the firm, I reported directly to Richard. My mandate was clear and I had his full support. His door was always open and as he put it, as long he didn’t see me, he knew I was doing my job.

Finally, for those of you in human resources looking to describe the skills requirements for this job, have a look at this KPMG report too. They explain that a risk executive must be a strategic thinker, project manager, facilitator, have deep industry and institutional knowledge (i.e., about the organization), and be an independent thinker who can gain the “confidence of the C-suite”.

Riskczar’s translation: that’s me!

Have a look at the white paper from KPMG or by clicking on the link below

http://riskczar.wordpress.com/files/2009/10/kpmg-the_business_case_for_a_risk_executive_whitepaper-riskczar.pdf

KPMG has published an interesting survey of mergers and acquisitions in the renewable energy industry.  Major conclusions include:

1. Deal volume has, of course, fallen from nearly $26 billion in 2007 to a little over $18 billion in 2008 …
2. … With the billion-dollar transactions of 2008 being replaced by smaller-sized deals in the $300-500 million range and …
3. … Focused on currently operating assets in contrast to acquiring promising but undeveloped capacity
4. Investors are also using the depressed valuations to focus, consolidate, and grow positions
5. Government regulations and support drive renewable investments and, in recognition, nearly 16% of worldwide stimulus funds totaling almost $3 trillion have been allocated to “green” energy

Lundi, Nicolas Sarkozy annonçait un nouveau plan d’aide aux PME de 2 milliards d’Euros. On ne peut bien sûr que s’en réjouir à l’heure même où une étude IFOP pour KPMG et la CGPME vient confirmer que les besoins de financement des PME augmentent en même temps que leurs conditions d’accès au crédit se durcissent…

Et on peut aussi agir !

C’est ce que nous faisons depuis déjà plusieurs années avec le programme Cisco Capital EasyLease qui nous permet de faire bénéficier nos clients de notre tréserorerie positive en leur donnant accès à une offre de financement à 0%. Et bien entendu, compte tenu du climat économique et des besoins de nos clients dans ce domaine, nous venons d’en annoncer la prolongation jusqu’au 31 juillet.

C’est une offre peu courante sur le marché et pourtant, probablement essentiellement par méconnaissance, elle est encore trop peu utilisée. Alors, pensez-y !!!