Could Europe become the next superpower?

Dear friends and colleagues,

Welcome to this month’s issue of my newsletter featuring selected articles on finance, accounting, audit, and global business.

I hope you will find this information interesting.

Feel free to contact me in case you require any additional information on the topics discussed below.

With very best regards,
Armando Nuricumbo


Could Europe become the next superpower?
America's competitive advantage over Europe is disappearing and the EU could finally be ready to emerge as a true global force.
http://www.newsweek.com/id/221614


FINANCE AND ACCOUNTING

Nine measures of strategic value
Evaluating assets such as human capital, unique processes, and reputation can unlock opportunities to recognize strategic value.
http://www.journalofaccountancy.com/Issues/2009/Nov/20092092.htm

ACFE Warns Not to Change SOX Rules
A measure to change Sarbanes-Oxley rules would lead to a higher incidence of fraud and an increase in the amount of fraud losses.
http://www.webcpa.com/news/ACFE-Warns-Change-SOX-Rules-52422-1.html?zkPrintable=true

Tax Authorities Demand Transfer Pricing Evidence
Tax authorities around the world are requiring companies to provide more documentation to support their transfer pricing strategies.
http://www.webcpa.com/news/Tax-Authorities-Demand-Transfer-Pricing-Evidence-52427-1.html?zkPrintable=true

Russia has the world's most fraudulent economy
71% of Russian respondents to PwC's global economic crime survey said they had been subject to economic crime in the past year.
http://www.reuters.com/article/marketsNews/idUSLK39923620091120


GLOBAL ECONOMY

Senior Financial Execs Favor Separate CEO, Chairman
Eighty-eight percent of senior financial executives believe the positions of CEO and chairman of the board should be separate.
http://www.webcpa.com/news/Senior-Financial-Execs-Favor-Separate-CEO-Chairman-52384-1.html?zkPrintable=true

U.S. hunt for tax evaders turns to Hong Kong
U.S. Justice Department and the IRS are turning to Hong Kong in their search for Americans hiding money in foreign banks.
http://www.bloomberg.com/apps/news?pid=20601103&sid=axQFGFjoAzkE#

Top 100 Global Advertisers Heap Their Spending Abroad
If you want to follow the money in advertising, get a passport. Top 100 advertisers spent 62% of their budgets outside the U.S. last year.
http://adage.com/globalnews/article?article_id=140723


MEXICO AND LATIN AMERICA

Meet Goodby and Wieden's Favorite Mexican Ad Agency
Saltillo-Based Grupo W's Portfolio Contains Awarded Work for Sprint, Unilever, Coke
http://adage.com/globalnews/article?article_id=140843

Mexico ‘Not Going Anywhere’ Without Reform
Mexico’s political parties are preventing the country from adopting reforms, holding the country back while others in the region progress.
http://www.bloomberg.com/apps/news?pid=20601086&sid=aJsgS7_nINsg

Chile To Be Admitted Into OECD Later This Month
Chile will be admitted into the Organization for Economic Cooperation and Development later this month.
http://www.nasdaq.com/aspx/stock-market-news-story.aspx?storyid=200912021225dowjonesdjonline000560&title=chile-to-be-admitted-into-oecd-later-this-month--president

Bolivia's Morales is re-elected for a second term
The government has said it now controls 28 percent of the economy, up from about 8 percent before Morales took office.
http://thestar.com.my/news/story.asp?file=/2009/12/7/worldupdates/2009-12-07T110402Z_01_NOOTR_RTRMDNC_0_-445212-1&sec=Worldupdates


OTHER

Land for sale in Zumpango, Estado de México.
45 minutes from Mexico City. Approximately 10,000 m2. All legal documentation in order. Excellent investment. Sold by owner.
http://www.nuricumbo.com/files/Terreno_en_Zumpango.pdf

Historic house for sale in the State of Guanajuato.
30 minutes from Dolores Hidalgo. 3 hours from Mexico City. Excellent location for business. 300 m2. Sold by owner.
http://www.nuricumbo.com/files/Casa_en_San_Diego_de_la_Uni_n.pdf

Risk Reward Limited
Risk Reward provides independent risk management consultancy for banks and financial institutions worldwide.
http://www.riskrewardlimited.com/