Audit & Accounting

The House Financial Services Committee grilled a group of bankers who received money from the financial bailout over how they had been using the money.

Senate Majority Leader Harry Reid, D-Nev., said that negotiators from the House and Senate have reached an agreement on the stimulus package.

The Securities and Exchange Commission has begun requiring 500 of the largest companies to start filing their financial statements in an interactive data format.

“Look at the guy on your left,” they told pilot recruits during World War II on their first day of training. “Look at the guy on your right. One of you won’t be here in three months.”

Treasury Secretary Timothy Geithner spelled out plans for how the government will spend trillions of dollars to deal with unfreezing credit and taking troubled assets off the books of financial institutions.

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.

The Senate has approved the economic stimulus bill after three Republican senators agreed to vote for the massive package aimed at reviving the economy.

Retirement doesn’t have to be just about bingo and shuffleboard.

Morningstar has issued a statement that it is considering establishing its own credit-ratings systems in competition with rating agencies such as Moody’s and Fitch, although it has no plans in place.

The Senate plans a crucial procedural vote Monday after a group of moderate senators forged a compromise over the weekend to trim approximately $110 billion from the economic stimulus bill.