The Securities and Exchange Commission charged two accountants in connection with auditing the financial statements of bankrupt cable company Adelphia Communications Corp.

The Financial Accounting Standards Board said that it would assemble an investor task force -- a group comprised of top-level asset managers who will help advise the standard-setter on accounting issues relevant to Wall Street.

The International Auditing and Assurance Standards Board, a unit of the International Federation of Accountants, has approved a revised standard that the governing body says will enhance audit quality via stricter requirements for documentation.

The European Parliament approved the controversial Eighth Directive, a sweeping reform measure that mandates new oversight rules for auditors.

In a ruling that may affect the future of state job creation strategies across the nation, the Supreme Court will rule on how states can use tax incentives to entice large concerns such as car companies to make capital investments.

Without the release of all pertinent documents by San Diego's pension board, attorney's office and firefighters union , auditor KPMG says that its review of the city's 2003 year could drag on even longer.

Securities and Exchange Commission Chairman Christopher Cox will recuse himself to avoid any appearance of impropriety in the agency's investigation of Cox's former congressional colleague, Senate Majority Leader Bill Frist.