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OSCPA - Managing Through Change (Big Picture)
1. Petra Learning LLC
Ohio Society of CPAs
A Look Ahead
November 14, 2013
11/23/2013
www.petralearning.com
Page
1
2. Navigating the Unfolding
Landscape
What Questions Are You
Asking?
Changing
Frameworks
Q: Where do
we fit?
Q: What
changes are
needed?
Social
Media
Activism
Q: Who’s
speaking for
you?
Q: What are
they saying?
11/23/2013
Fraud/Governan
ce Focus
Q: Where am I
weak?
Q: Have can I
batten down the
hatches?
www.petralearning.com
Page 2
3. 1. What’s required?
2. How to present?
3. Pros / cons?
Result
Need dynamic
reporting systems and
processes
11/23/2013
1. U.S. GAAP / IFRS
2. Private Company
3. Small / Medium
Enterprises
4. Non-Profit
5. OCBOA
1. Global
reporting
initiative
(G4)
2.
Integrated
Reporting
(IIRC)
www.petralearning.com
Coalescing
Bottom line:
What we have right
now is not getting the
job done
Therefore:
Search for answers
Segmentin
g
Frameworks
Page 3
4. Integrated Reporting
Guiding Principles
(www.theiirc.org)
Strategic focus
Future orientation
Adoption
Connectivity
90 global businesses
Stakeholder
responsiveness 50 institution investors
Materiality
U.S. Companies:
Conciseness
◦ Coca-Cola, SAP, Cliff’s Natural
Consistency
Resources, Jones Lang
Comparability
Lasalle, Microsoft, Prudent Financial
Inc., The Clorox Company
Comments
July 15
V1 Dec
2013
Pilot to
Sept 2014
11/23/2013
www.petralearning.com
Page 4
5. Social Media Activism
Who Controls Your Financial
Brand?
Access to
Information
Public
Relations
Nightmare
Social
Media
Example 1:
Imaging3, Inc.
Example 2: Netflix
CEO personal
Facebook
messaging / SEC
FD decision
Example 3:
Snowden
Who’s speaking for you?
How much sensitive data floats around your team?
11/23/2013
www.petralearning.com
Page 5
7. THANKS FOR YOUR ATTENTION.
ENJOY THE REST OF THE DAY.
If there are comments, questions we did not get a
chance to address, you can send them to me at:
tiffany@petralearning.com
11/23/2013
www.petralearning.com
Page 7