A CPA will take over as the Securities and Exchange Commission’s chief financial officer and associate executive director of finance.The appointee, Kristine Chadwick, had most recently served as the chief financial officer for the Department of Agriculture's Farm Service Agency, Foreign Agricultural Service, and Commodity Credit Corporation. She will replace Margaret Carpenter, who is retiring in January after 32 years in the federal government.

As federal regulators continue tweaking new public accounting rules, opponents of the Sarbanes-Oxley Act will find more fuel for their argument in the news that Hong Kong passed over New York in 2006 to become the world's second most popular place for companies to issue new stock listings.London remained at the top of the list.

For the business community, going public has always been where the real money is.

The Public Company Accounting Oversight Board has revoked the registration of Armando C. Ibarra PC of Chula Vista, Calif., and censured Dallas-based Turner, Stone & Co. LLP, citing violations of PCAOB guidelines and auditing standards uncovered during its inspection process.

The Internal Revenue Service is lifting a moratorium on determination letter applications for conversions from traditional defined benefit pension plans to so-called cash balance plans.

As expected, President Bush signed a massive bill that would extend expiring tax, health and trade legislation.

In a nod to opponents and critics who complained about the costs of internal controls audits, the Public Company Accounting Oversight Board voted unanimously to circulate a proposal that would trim down the amount of testing necessary to evaluate internal controls over the financial reporting process.