Audit & Accounting

The total average cost of Sarbanes-Oxley Section 404 compliance reached $1.7 million last year, according to a newly released survey.

The American Institute of CPAs found a range of responses when it surveyed Americans on how they intend to use their tax rebates.

Revenue at accounting firm J.H. Cohn rose 26 percent to $221,371,000 for the fiscal year ended Jan. 31, 2008.

Accounting software developer Intacct has raised $15 million in financing led by Bessemer Venture Partners.

The Securities and Exchange Commission has agreed to bar a former Arthur Andersen audit partner from appearing or practicing before the commission for at least five years.

While U.S. and international accounting standards seem set on an inevitable convergence path, some are worried that the U.S. approach may end up becoming a bad influence on International Financial Reporting Standards.

Entertainment and sports accountant Mike Vaden and his Vaden Group have allied with regional accounting and business advisory firm Joseph Decosimo & Co. to form a business management practice aimed at the entertainment industry and high-net-worth individuals.

Accounting firm Plante & Moran said it was seeing optimism among the businesses it surveyed in the Midwest despite general worries about the economy.

RSM McGladrey said it has made several organizational and leadership changes, merging the firm's lines of business into its operations group and strengthening its regional management structure.

The Financial Accounting Standards Board and the China Accounting Standards Committee have signed a memorandum of understanding agreeing to strengthen communication and cooperation between the U.S. and Chinese standards setters.