Jnet is the bilingual newsletter of KPMG's U.S. Japanese Practice. Published since 1997, Jnet is issued quarterly to update you on audit, accounting, tax, and other business issues relevant to Japanese companies operating in the United States.
To help identify the pressing challenges and concerns that are top of mind for audit committees today, KPMG's 2014 Global Audit Committee Survey captures the views of nearly 1,500 audit committee members around the world on a range of timely issues-from the top challenges facing companies in the year ahead and the audit committee's increasing workload, to corporate performance, the effectiveness of the CFO and finance organization, and the quality of the information directors receive about the company's key risks.
On November 22, 2013, the IRS released two notices (Notice 2013-78 and Notice 2013-79) containing draft revenue procedures providing guidance and instructions with respect to requesting competent authority (CA) assistance and advance pricing agreements (APAs).
This past year provided several reasons for executives to feel optimistic about the economy. The Dow Jones surpassed 15,000 points, companies have been issuing IPOs at a record pace and Europe appears to have stabilized. However, despite a few large deals, such as Verizon Communications' announced purchase of Vodafone's 45 percent share of Verizon Wireless for $130 billion, the M&A market has been relatively tame. For the first nine months of 2013, global deal volume decreased almost 13 percent while global deal value increased two percent, according to Thomson Reuters.
A year ago, KPMG's Automotive team released a white paper about self-driving vehicles. That report, Self-Driving Cars: The Next Revolution, focused on the emerging technologies and the profound impact self-driving vehicles could have in reshaping our roads, our cities and our lives.
A year later the momentum around self-driving vehicles is astonishing. In some ways, the industry is moving even faster than we predicted. Rarely does a day go by without another announcement about a new technological breakthrough or a new joint venture. Traditional automotive manufacturers are teaming up with high tech companies; innovative start-ups are seeking and finding investors. The landscape is shifting before our eyes.
In this section, we provide brief updates on regulatory developments in auditing and accounting that may impact Japanese companies in the United States.
In this section of Jnet, we provide brief updates on legislative, judicial, and administrative developments in tax that may impact Japanese companies operating in the United States.
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The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.
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