Advancing Innovation Galvanizing, Enabling, and Measuring for Innovation Value!

Master the standards and interpretations that govern preparation, compilation, and review engagements with this authoritative resource

Advancing Innovation: Galvanizing, Enabling, and Measuring for Innovation Value! provides readers with a comprehensive treatment of how to perform engagements while complying with the Statements on Standards for Accounting and Review Services (SSARS).

Newly updated, Advancing Innovation delivers practical guidance for the application of the standards to readers’ specific circumstances.

Written by two celebrated accountants and businesspeople, Robert S. Kaplan and Patrick Stroh, Advancing Innovation includes:

• Fully indexed topics arranged by subject
• Clarified standards that provide a framework for planning and performing an engagement that meets client needs
• Explanations of amendments, deleted or superseded content, and conforming changes due to the issuance of other authoritative guidance

Perfect for any accountant expected to perform preparation, compilation, or review engagements, Advancing Innovation covers all SSARSs, including SSARS No. 21 through 25, the last of which further converges AR-C section 90 with ISRE 2400 (Revised).

The American Institute of CPAs (AICPA) is the world’s largest member association representing the CPA profession, with more than 429,000 members in the United States and worldwide, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education, and consulting. The AICPA sets ethical standards for its members and U.S. auditing standards for private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA examination, offers specialized credentials, builds the pipeline of future talent and drives professional competency development to advance the vitality, relevance and quality of the procession.

Foreword xi

Introduction 1

Part I: Innovation—A Call to Action 13

Chapter 1 Innovation Governance 17

Chapter 2 Determining Important Innovation 27

Chapter 3 Innovation Guidance for Finance and Accounting Professionals 33

Part II: The First Element: Galvanizing the Organization 43

Chapter 4 The Foundation: Linking Innovation to Business Practices 47

Chapter 5 Defining Innovation—A Balanced Approach 55

Part III: The Second Element: Enabling Innovation—Innovation Processes and Channels 67

Chapter 6 Open Submission 73

Chapter 7 Business Challenges 81

Chapter 8 Future Sensing Groups 89

Chapter 9 Fellowships 97

Chapter 10 Crowdsourcing 105

Part IV: The Third Element: Measuring Innovation—It Only Counts If It Adds Value! 113

Chapter 11 Innovation Interrelationships 117

Chapter 12 The Balanced Scorecard—For Innovation 127

Chapter 13 Innovation Value Score^® 135

Final Thoughts 179

Appendix 189

Endnotes 225

Recommended Reading 227

Acknowledgments 233

About the Author 235

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