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• Court Reinstates Malpractice Suit Against Deloitte

  November 5, 2009

  A malpractice lawsuit against Deloitte that was filed by Holtsville, N.Y.-based Symbol Technologies can proceed, an appeals court in New York has ruled.

• House Panel Exempts Small Companies from SOX Audits

  November 4, 2009

  The House Financial Services Committee voted to exempt small and midsized public companies from Sarbanes-Oxley audit requirements.

• International Auditing Standards Spread to 126 Countries

  November 3, 2009

  The International Federation of Accountants has released a new online chart showing the growing adoption of International Standards on Auditing.

• PCAOB May Scrap Auditor Sign-off Proposal

  November 2, 2009

  The Public Company Accounting Oversight Board has received mostly negative comments on a recent proposal to require engagement partners with final responsibility for an audit to sign the audit report, and it may end up abandoning the idea.

• ASSURANCE NEWS

  November 2, 2009

  PCAOB sees room for improvements in AS5 audits, and accountants are divided over regulatory overhaul

• Fraud never sleeps

  November 2, 2009

  Get proactive with continuous auditing/continuous monitoring

• THE SPIRIT OF ACCOUNTING: Paul M at 300; Paul B at 200

  November 2, 2009

  On Jan. 22, 1996, Accounting Today published the first version of The Spirit of Accounting, titled 'Self-regulation: Oxymoronic or just plain moronic?' The current column is the 300th, and we're going to present our individual perspectives on this milestone.

• Insurance assurance

  November 2, 2009

  With over $3 trillion in cash values, life insurance ranks second only to the mutual fund industry in magnitude.

• GAO: DoD audit oversight rife with problems

  November 2, 2009

  The Pentagon's Defense Contract Audit Agency - the federal watchdog responsible for providing critical accounting and auditing oversight of military contractors - is riddled with audit quality problems that include serious breaches of auditor independence, congressional investigators charged.

• PCAOB Mulls New Related-Party Standards

  October 23, 2009

  Worried that corporate auditors are being duped by widespread related-party transaction frauds, officials at the Public Company Accounting Oversight Board are considering new standards establishing stiffer and more specific requirements for accountants who encounter these arrangements.

• Auditing Board Works on Greenhouse Gas Standard

  October 23, 2009

  The International Auditing and Assurance Standards Board has published a consultation paper seeking views on a new assurance standard it is developing for greenhouse gas emission reporting.

• Richard Chambers Podcast

  October 21, 2009

  Institute of Internal Auditors president Richard Chambers comments on the role of internal audit in the risk management function.

• IAASB Develops Fair Value Auditing Guidance

  October 16, 2009

  The International Auditing and Assurance Standards Board is seeking views on developing fair value auditing guidance for a new consultation paper.

• Video: Grant Thornton CEOs Discuss Supreme Court’s PCAOB Case

  October 15, 2009

  Current Grant Thornton CEO Ed Nusbaum and incoming CEO Stephen Chipman talked about the Supreme Court’s upcoming hearing of a challenge to the constitutionality of the Public Company Accounting Oversight Board.

• Internal Audit Staff Hit Hard by Recession

  October 8, 2009

  The staffing level of internal audit departments was hurt badly by the recession, but the worst might be over, according to a new survey.

• Small Public Companies Get Final SOX Reprieve

  October 5, 2009

  The Securities and Exchange Commission has again delayed the deadline for small public companies to begin providing an audited assessment of internal controls over financial reporting, but said this will be the last time.

• Reznick Group Launches SAS 70 Microsite

  October 5, 2009

  Accounting firm Reznick Group has created a SAS 70 site that contains information on the auditing standard and the firm’s services.

• PwC, KPMG Offices Raided in Iceland

  October 2, 2009

  Police have raided the offices of PricewaterhouseCoopers and KPMG in Iceland searching for information related to banking clients that went bust.

• Tech Glitches Push Back Date of PCAOB Reports

  October 1, 2009

  The Public Company Accounting Oversight Board has delayed the effective date of its new rules requiring accounting firms to report on events such as litigation so it can resolve technical issues with the Web-based system it plans to use for receiving the reports.

• Internal Audit Organization Offers Fellowships

  October 1, 2009

  The Institute of Internal Auditors is asking companies to lend some of their “brightest and budding” internal audit practitioners to serve on six-month rotational fellowships at the institute and influence the evolution of the internal audit profession.

• PCAOB Sees Room for Improvement in AS5 Audits

  September 24, 2009

  Many accounting firms are doing a good job of following new standards for conducting risk-based audits of internal controls, but others are not applying the standards properly, according to a new report by the Public Company Accounting Oversight Board.

• Financial Statement Fraud 2nd Edition

  September 22, 2009

  Published: September 2009
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• Fraud 101 3rd Edition

  September 22, 2009

  Published: September 2009
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  Author: Pedneault
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• Protiviti Unveils Crisis Advisory Board

  September 21, 2009

  Business consulting and internal audit firm Protiviti Inc said it has formed an advisory board to assist its clients with navigating the unstable economic and regulatory environment.

• CCH Offers Learning Academy

  September 14, 2009

  CCH has launched the CCH Learning & Development Academy, a training program for accounting firms of all sizes.

• PCAOB Backs FASB Codification

  September 4, 2009

  The Public Company Accounting Oversight Board has published a set of staff questions and answers intended to address how auditors should use the recently issued FASB Codification.

• Niemeier to Leave PCAOB

  September 2, 2009

  Public Company Accounting Oversight Board member Charles Niemeier said he plans to leave the board in the near future.

• Accountant Disciplined for Using High School Grads to Perform Audits

  August 28, 2009

  The Securities and Exchange Commission has charged Las Vegas accountant Michael J. Moore and his auditing firm Moore & Associates with issuing false auditing reports prepared by high school graduates who had little to no experience with accounting or auditing.

• Auditing Standards Don’t Have Far to Converge

  August 21, 2009

  A new study indicates that differences between the international and U.S. auditing standards are fairly negligible and won’t present the challenge now facing the convergence of U.S. GAAP with International Financial Reporting Standards.

• Richard Chambers

  August 21, 2009

  The president of the Institute of Internal Auditors explains why the role of internal audit is evolving from Sarbanes-Oxley to risk management.

• PCAOB Reporting Rules Take Effect October 12

  August 14, 2009

  The SEC has approved rules requiring registered public accounting firms to report events such as legal proceedings and changes in a firm’s contact information within 30 days to the Public Company Accounting Oversight Board, as well as file annual reports on disciplinary matters and other issues.

• PCAOB Publishes Foreign Firm Inspection Lists

  August 13, 2009

  The Public Company Accounting Oversight Board has published two lists of accounting firms that have not yet been inspected and jurisdictions in which it has inspected registered non-U.S. firms.

• CCH Improves Audit Management in TeamMate

  August 10, 2009

  CCH has released the latest version of its TeamMate audit management software with enhanced management reportlng and issues-tracking features.

• PCAOB Forms Investor Advisory Group

  July 31, 2009

  The Public Company Accounting Oversight Board has created an Investor Advisory Group to solicit input from investors on how to carry out the board’s responsibilities in overseeing public auditing firms.

• PCAOB Adopts Engagement Quality Review Standard

  July 28, 2009

  The Public Company Accounting Oversight Board has voted to adopt a new auditing standard on engagement quality review and to issue a concept release on requiring the engagement partner to sign the audit report.

• Goelzer Named PCAOB Acting Chairman

  July 27, 2009

  Daniel L. Goelzer was named acting chairman of the Public Company Accounting Oversight Board and will take office August 1.

• PCAOB Considers Audit Engagement Changes

  July 24, 2009

  The Public Company Accounting Oversight Board has scheduled an open meeting next week to discuss making changes in engagement quality auditing and sign-off requirements.

• Ernst & Young to Pay $10.2M for Negligent Audits

  July 23, 2009

  Ernst & Young will have to pay $10.2 million in damages after a Florida jury determined that the firm was negligent in its audits of the now-defunct Sovereign Bank.

• CCH Intros Knowledge Coach for Audits

  July 23, 2009

  CCH has created new software to make the audit process more efficient.

• CAQ Governing Board Re-elected

  July 20, 2009

  The Center for Audit Quality has re-elected four members of its governing board.

• Audit Problems Found at BDO and Grant Thornton

  July 15, 2009

  The Public Company Accounting Oversight Board has released reports on the audit deficiencies that its inspectors found last year at BDO Seidman and Grant Thornton.

• CAQ Funds Audit Research Projects

  July 14, 2009

  The Center for Audit Quality’s Research Advisory Board has chosen five auditing-related academic research projects to fund.

• Tips on Curbing Corporate Fraud

  July 13, 2009

  Accounting firm Crowe Horwath LLP has advice on the top 10 ways that corporations can reduce occupational fraud.

• Sageworks Handles Government and Bank Audits

  July 2, 2009

  Sageworks has released two new analytical procedure modules for auditing government entities, banks and other financial institutions.

• Guidebook Helps Manage Spreadsheet Risk

  July 1, 2009

  A new guidebook aims to help companies mitigate the risks of spreadsheets being misused for corporate fraud or causing multimillion-dollar reporting errors.

• Deloitte Tries to Help Canada Find Missing Gold

  June 30, 2009

  Deloitte & Touche has conducted a review for the Royal Canadian Mint to try to account for a $15.3 million discrepancy between a rolling inventory and a physical count of gold owned by the mint and its customers, and Goldfinger is apparently not to blame.

• PCAOB Delays Foreign Firm Inspections

  June 25, 2009

  The Public Company Accounting Oversight Board has voted to delay inspections of foreign accounting firms for up to three years after hearing an outcry over the legality of the inspections from regulators and firms overseas.

• Audit Watchdog Finds IFRS Discrepancies

  June 19, 2009

  A new study of accounting-related fraud in Western Europe has found substantial differences in the approach taken to International Financial Reporting Standards by different countries and companies.

• Jury Finds BDO International Not Liable for Audits

  June 18, 2009

  A jury in Miami has found BDO International not liable for failing to uncover fraud in audits conducted by its U.S. member firm, BDO Seidman.

• Samuel A. DiPiazza, Jr.

  June 18, 2009

  PricewaterhouseCoopers International's CEO has some thoughts to share about the accounting profession, his firm and the state of the economy, before his retirement.

• Ernst & Young to Pay $109M for HealthSouth Audits

  June 17, 2009

  Ernst & Young has agreed to a record-setting $109 million nationwide settlement for failing to uncover the financial problems at health care giant HealthSouth.

• Call Me Curious

  June 11, 2009

  I am increasingly curious as to how those responsible for filing, auditing, exercising oversight and investing in today's market setting answer a small set of queries.

• PCAOB Chairman Olson Resigns

  June 8, 2009

  Mark Olson, chairman of the Public Company Accounting Oversight Board, said he is resigning his post at the end of July, but did not elaborate on the reasons.

• Audit Fees Rose Slightly Last Year

  June 3, 2009

  Companies paid a bit more in audit fees in fiscal year 2008 compared to the previous year, according to a new survey.

• A Supreme Debate on the PCAOB’s Fate

  June 3, 2009

  The Supreme Court has agreed to rule on the question of whether the Public Company Accounting Oversight Board is unconstitutional, but what can we expect the justices to say?

• Audit Committee Members Get Involved in Crisis

  May 20, 2009

  Three out of four audit committee members say they have increased their hands-on involvement with management, and are reassessing risk management and oversight as a result of the economic crisis, according to a new survey.

• Biggest Ready for XBRL

  May 20, 2009

• Fraud Examiners Call for Executive Comp Transparency

  May 19, 2009

  The Association of Certified Fraud Examiners wants top executives at public companies to open up their finances to scrutiny by auditors and regulators.

• An Accounting Tragedy

  May 19, 2009

  Among the tragedies inflicted on thousands of victims by Bernard Madoff was that perpetrated on a tiny accounting firm in New City, N.Y., a hamlet some 30 miles north of New York City.

• Is the auditing profession falling behind?

  May 18, 2009

  Over the last several years, a substantial number of highly complex professional auditing and accounting standards have been issued by numerous standard-setters.

• Commentary: Authentic audit reform: Abolish the monopoly

  May 18, 2009

  Customers are best served and protected when they have many competitive alternatives. We are suspicious of self-serving monopolies.

• Audit Watchdog Group Warns About Starbucks

  May 15, 2009

  Research firm Audit Integrity issued a negative report to investors and auditing firms about Starbucks Corp., warning that the coffee retailer rates poorly on several risk factors, including equity risk, class-action litigation and financial restatements.

• NYSE Chief Wants Accounting Firms to Cut SOX Fees

  May 12, 2009

  NYSE Euronext CEO Duncan Niederauer thinks accounting firms are charging small companies too much to comply with Sarbanes-Oxley requirements and suggested the SEC may pressure the firms to reduce their fees.

• CAQ Releases Public Auditing Guide

  May 7, 2009

  The Center for Audit Quality has released a new guidebook to explain to investors, managers and other interested parties the important role played by auditors of public companies.

• PNC Equity Buys Apex Analytix

  May 7, 2009

  PNC Equity Partners II LP has acquired Apex Analytix, a firm that provides recovery audit services to more than a third of the Fortune 100.

• Ohio CPAs Beef up Employee Benefit Plan Audits

  May 6, 2009

  The Ohio Society of CPAs is teaming up with the U.S. Department of Labor to improve the quality of audits of employee benefit plans in the Buckeye State.

• Commentary: An accounting tragedy

  May 4, 2009

  Among the tragedies inflicted on thousands of victims by Bernard Madoff was that perpetrated on a tiny accounting firm in New City, N.Y., a hamlet some 30 miles north of New York City.

• Former SEC Chief Accountant Turner Joins LECG

  April 23, 2009

  Lynn Turner, former chief accountant of the Securities and Exchange Commission, has a new job: senior advisor and managing director of the forensic accounting practice at LECG.

• Madoff Auditor in Legal Limbo

  April 21, 2009

  Bernard Madoff's accountant, David Friehling, is facing an extra month of uncertainty over his legal status after prosecutors filed a continuance with the court.

• Economy causes internal audit upheaval

  April 19, 2009

  Among the many changes born of the financial crisis that's sweeping the globe are changes in internal auditing departments

• Chicago CPA Firm Gets High Marks on Peer Review

  April 16, 2009

  Porte Brown earns bragging rights.

• Nader Calls CPAs 'MIA' in Financial Crisis

  April 14, 2009

  Consumer advocate Ralph Nader lashes out at accountants.

• PCAOB Mulls Revising Audit Confirmation Standards

  April 14, 2009

  Board considers changes in the wake of scandals.

• CAQ Makes Recommendations on IFRS Adoption

  April 14, 2009

  Group encourages a firmer deadline for roadmap.

• Final Mark-to-Market Rules Make Subtle Changes

  April 14, 2009

  Some critics begin to see positive signs.

• PCAOB Plans International Inspections

  April 8, 2009

  The Public Company Accounting Oversight Board has released a list of countries abroad where it intends to conduct inspections of auditing firms.

• PwC India Auditors Charged in Satyam Case

  April 8, 2009

  Two auditors from PricewaterhouseCoopers' Indian member firm have been charged in the Satyam accounting scandal.

• PCAOB Plans Small Business Audit Forums

  April 7, 2009

  The Public Company Accounting Oversight Board has scheduled a series of forums around the country on auditing in the small business environment.

• Commentary: Build a better financial statement

  April 5, 2009

  Are you able to get what you need from reviewing financial statements? Do you think there are ways to enhance the usefulness of the presentation of the information?

• Companies Foresee More Tax Audits

  April 6, 2009

  As governments desperately seek all kinds of additional revenue, senior business professionals see the increased possibility of an audit by taxing authorities as the most significant tax risk facing their organizations today, according to a new survey.

• Former KPMG Execs Sentenced in Tax Case

  April 3, 2009

  Two former KPMG managers received prison terms and multimillion-dollar fines in a long-running tax shelter case.

• Accounting & Auditing Briefs

  March 31, 2009

• Support, Questions for IFRS

  March 31, 2009

• Auditors' Resource Online

  March 31, 2009

• Guidance on Internal-Control Audits

  March 31, 2009

• SOUTHEAST: Taking Action While Numbers Are Good

  March 31, 2009

• SOUTHWEST: Building Strong Numbers

  March 31, 2009

• NORTH CENTRAL: Local Concentration, Global Goals

  March 31, 2009

• NORTHEAST: Big Regionals, Similar Issues

  March 31, 2009

• MIDWEST: Finding the Right Niches

  March 31, 2009

• WEST: Growing Amid the Struggle

  March 31, 2009

• Top National Firms

  March 31, 2009

• NORTHEAST: Top 15 Firms

  March 31, 2009

• MIDWEST: Top 15 Firms

  March 31, 2009

• WEST: Top 15 Firms

  March 31, 2009

• CAQ to Spend $200,000 on Audit Research

  April 1, 2009

  The Center for Audit Quality plans to award $200,000 in research grant funds to academics working on topics related to auditing and accounting.

• Vitale Caturano Shortens Name

  March 31, 2009

  Accounting firm Vitale Caturano has changed its name to Caturano and Co. in a bid to distance itself from a scandal-tainted co-founder.

• Obama Nominates Tax Policy Head

  March 31, 2009

  President Barack Obama has nominated a California professor, Helen Elizabeth Garrett, as his Assistant Treasury Secretary for Tax Policy.

• Prosecutors Ask for the Max for Tax Shelter Execs

  March 27, 2009

  Prosecutors maintain that two former executives of Big Four firm KPMG should be sentenced as much as 24 years in prison for their part in marketing illegal tax shelters.

• BearingPoint to Divest Key Ops to Big Four Firms

  March 26, 2009

  Consulting giant BearingPoint, which filed for Chapter 11 last month, agreed to divest several of its units to Big Four firms Deloitte and PricewaterhouseCoopers.

• Survey: Recession Not Stopping Divestitures

  March 25, 2009

  Despite the economic slump, a high number of executives are continuing to pursue divestitures or carve-outs, according to a survey conducted by Deloitte Corporate Finance.

• Internal Auditors Weigh In on Financial Crisis

  March 25, 2009

  -- More than 40 percent of internal auditors within the financial services sector felt that better risk management practices could have helped prevent their organization's current financial situation, according to a just-released study from the Institute of Internal Auditors.

• Audit Committees Change Oversight

  March 24, 2009

  About 89 percent of the 150 audit committee members at a recent KPMG conference said that the financial crisis had caused their company's board or audit committee to change the nature and scope of its oversight.

• IRS Audit Rates for Millionaires Plummet

  March 23, 2009

  Audits by the Internal Revenue Service of the tax returns of millionaires nosedived in the just-ended fiscal year, according to a new report.

• Restatements Drop to Five-Year Low

  March 23, 2009

  Financial restatements in 2008 dipped 49 percent from the prior year, the lowest level in the past five years, according to a report compiled by proxy researcher Glass Lewis.

• Bentley Receives $400K Grant from E&Y

  March 23, 2009

  Big Four Firm Ernst & Young has given Bentley University a $400,000 grant to revamp the school's accountancy and finance curriculum.

• Ernst & Young, UBS Sued over Madoff Feeder Fund

  March 20, 2009

  Ernst & Young and Swiss bank UBS have been sued by a group of investors in Luxembourg who put money in a fund that directed 95 percent of their assets to Bernard Madoff's firm.

• Internal Audit Teams Face Reduced Budgets

  March 19, 2009

  The economic crisis will force many companies to cut costs at their internal audit departments, according to a new study from PricewaterhouseCoopers.

• Leisha John

  March 19, 2009

  Environmental sustainability director makes Ernst & Young a greener firm.

• Madoff's Auditor Arrested

  March 18, 2009

  David Friehling, the accountant who ran the tiny auditing firm that serviced Bernard Madoff's broker/dealer firm, has been arrested and charged with securities and investment advisor fraud.

• Small business to face closer audit scrutiny

  March 15, 2009

  The nation's small businesses are squarely in Washington's crosshairs - targeted for more rigorous, more painful scrutiny by both federal tax enforcement officials and the nation's auditing standard-setters.

• How much should financial reports tell?

  March 15, 2009

  One of the many problems the ongoing financial crisis has brought to light is the fact that generally accepted accounting principles do not necessarily give investors all the information they need to foresee the perils that a company faces. And though auditors have to certify that an entity is a "going concern," they do not have to note that the concern is going over a cliff.

• Accounting Today Releases Top 100 Firms Ranking

  March 16, 2009

  Accounting Today has published its latest annual ranking of the Top 100 accounting firms.

• IRS Audits Credit Card Counseling Industry

  March 13, 2009

  The Internal Revenue Service has been spending tens of thousands of hours auditing nonprofit credit counseling agencies and ordering changes at the vast majority of them, according to newly released data.

• Madoff Goes to Jail

  March 12, 2009

  Bernard Madoff pleaded guilty to 11 charges in connection with a gigantic Ponzi scheme that swindled his clients out of up to $65 billion.

• Audit Software Vendor Sues SEC

  March 12, 2009

  A trio of related companies have filed suit to stop the Securities and Exchange Commission from infringing the trademark of their auditing software product.

• CPA to Oversee Tennessee's Stimulus Spending

  March 10, 2009

  Tennessee Governor Phil Bredesen has tapped a CPA, Charles L. Harrison, to lead the state's "implementation" of the stimulus funding it receives.

• Frank & Freedman Merges with Hirsch Subelsky

  March 10, 2009

  Michigan CPA firms Frank & Freedman and Hirsch, Subelsky & Associates have merged to form Frank, Hirsch, Subelsky & Freedman.

• Quality Control Tips for Small, Midsized Audit Firms

  March 9, 2009

  To help small and midsized accounting firms cope better with implementing international auditing standards, the International Federation of Accountants has published a "Guide to Quality Control for Use by Small- and Medium-sized Practices."

• Internal Audit Critical in Financial Crisis

  March 6, 2009

  The internal audit function has become crucial to helping companies cope with the economic crisis and complex regulatory requirements, according to a new guidebook.

• Tax Season Essentials: Avoiding a Tax Audit

  March 6, 2009

  All taxpayers dread the prospect of facing an Internal Revenue Service audit. Here is some advice from the New Jersey Society of CPAs on some steps taxpayers can take to minimize the likelihood they will be audited or ensure a more positive experience if they are.

• PCAOB Tries Again on Audit Quality Review

  March 5, 2009

  The Public Company Accounting Oversight Board has re-proposed for comment a standard for auditing firms to use for reviewing their audit reports internally by a second or concurring partner before they are issued.

• Auditing Clarity Project Completed

  March 3, 2009

  The International Auditing and Assurance Standards Board has completed a project aimed at updating and clearing up ambiguities in auditing standards.

• AICPA Adds Four Members to Auditing Board

  March 3, 2009

  The American Institute of CPAs has appointed four new members of the Auditing Standards Board.

• Town Sues KPMG over Madoff Feeder Fund

  March 2, 2009

  The town of Fairfield, Conn., has filed a lawsuit against KPMG and an investment advisor after its employee retirement programs lost an estimated $40 million in two hedge funds that invested all their assets with Bernard Madoff.

• Bill Would Beef up Broker-Dealer Auditor Oversight

  February 27, 2009

  Rep. Paul Kanjorski, D-Pa., has introduced a bill in Congress to close a legal loophole that allowed Bernard Madoff's tiny auditing firm to avoid scrutiny.

• Thomas Ray to Leave PCAOB

  February 27, 2009

  The Public Company Accounting Oversight Board's chief auditor and director of professional standards, Thomas Ray, has resigned and plans to return to the private sector on March 6.

• Ric Rosario

  February 26, 2009

  Ric Rosario is stepping into some big shoes at Camico Mutual Insurance Co.

• IDEA Visually Documents Audit Workflow

  February 26, 2009

  CaseWare IDEA and Audimation Services plan to introduce the latest version of their IDEA audit software, including a new project overview feature that presents a graphical representation of the entire audit or investigation process.

• What the Heck is a Financial Stress Test?

  February 25, 2009

  Bankers could start huffing and puffing after a few minutes on the treadmill once Tim Geithner cranks up the dial a few notches.

• Accounting PACs flash plenty of cash for favorite pols

  February 23, 2009

  As the 111th Congress grapples with tax legislation and other issues of concern to CPAs, more than a few House and Senate leaders are likely be feeling a deeper appreciation for the accounting profession.

• The post-IFRS world

  February 23, 2009

  From my vantage point on the other side of the Atlantic, I was delighted to see the Securities and Exchange Commission publish its roadmap to adoption of International Financial Reporting Standards. I just hope the U.S. constituents are as pleased as I am and that we can make some real progress towards global accounting standards.

• The spirit of accounting: Convertible debt: Progress at a glacial rate

  February 23, 2009

  Page 330 of our 2002 book, Quality Financial Reporting, includes this comment: "No one should accuse accountants of being glacial; after all, glaciers move."

• AICPA Reappoints Melancon

  February 23, 2009

  The American Institute of CPAs' board of directors has extended Barry Melancon's term as president and CEO for another five years.

• Survey Favors IFRS Adoption

  February 23, 2009

  As the debate over adoption of International Financial Reporting Standards heats up in the U.S., KPMG has released a survey indicating support for IFRS among investors, analysts and corporate executives who prepare financial statements.

• PCAOB Starts Registering Broker-Dealer Auditors

  February 20, 2009

  The Public Company Accounting Oversight Board has issued guidance on the recent requirement for registration of auditors of privately held broker-dealers.

• PwC Unveils $700K IFRS Grant

  February 19, 2009

  Big Four Firm PricewaterhouseCoopers has awarded $700,000 in grants to 26 colleges and universities to accelerate their respective curricula on International Financial Reporting Standards.

• Solender Named Vice Chair, General Counsel at E&Y

  February 19, 2009

  Big Four firm Ernst & Young named former Bear Stearns and Washington Mutual executive Michael Solender as its Americas vice chair and general counsel, effective February 24.

• Gen Y's Reality Check

  February 18, 2009

  Proving generational clashes aren't only taking place in the states, we found an article in an Australian small business publication quoting a 24-year-old KPMG employee in Melbourne worried about her future for the first time after her two close friends lost their jobs.

• Parente Randolph Merges in Lazar Levine & Felix

  February 17, 2009

  Parente Randolph has combined practices with Lazar Levine & Felix in a $16 million merger, expanding Parente's footprint in the Northeast.

• Crowe Horwath Combines with Hays Company

  February 17, 2009

  Crowe Horwath is expanding to New York City by combining practices with Hays Co. LLP.

• BearingPoint Files Chapter 11

  February 17, 2009

  BearingPoint Inc., which began as the consulting arm of Big Four firm KPMG but has been best by a series of financial problems and large earnings losses over the past several years, has filed for Chapter 11 bankruptcy and sealed

• Managers Look to Reduce Supply Chain Costs

  February 13, 2009

  Managers increasingly expect the supply chain to help them cut costs and improve performance, but the process needs to be balanced, according to a new report by Ernst & Young.

• CAQ Releases Internal Control Audit Lessons

  February 10, 2009

  The Center for Audit Quality has published a free online reference source for public company auditors with lessons on performing audits of internal control over financial reporting.

• KPMG Manager Joins SEC Chief Accountant Office

  February 9, 2009

  The Securities and Exchange Commission has appointed Robert Malhotra as a senior advisor in the SEC's Office of the Chief Accountant.

• Madoff Reaches Partial Settlement with SEC

  February 9, 2009

  The Securities and Exchange Commission said that Bernard Madoff has consented to a proposed partial judgment imposing a permanent injunction on him.

• Ernst & Young Chief Calls for More Audit Regulation

  February 6, 2009

  As the economic crisis calls into question the financial statements of banks and companies, the head of Ernst & Young advocated greater regulation of all types of auditing firms.

• McGladrey Sued in Madoff Case

  February 5, 2009

  McGladrey & Pullen has been sued by a hedge fund for failing to detect red flags in Bernard Madoff's investment schemes, leading the hedge fund to lose $280 million.

• Executives Reluctant to Disclose Corruption

  February 2, 2009

  Many executives at global companies prefer to keep a lid on incidents of corruption uncovered in their organizations, according to a new survey.

• Three More Convictions in Tax Shelter Case

  February 1, 2009

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