Audit & Accounting

Tennessee accounting firms Petty & Landis and Lattimore Black Morgan & Cain have merged their practices, giving Nashville-based LBMC a physical presence in the Chattanooga market.

The International Auditing and Assurance Standards Board issued new requirements for auditing group financial statements.

Ernst & Young Chairman and CEO James S. Turley has been appointed chair of the governing board of the Center for Audit Quality to help improve investor confidence in the audit process.

Tax technology vendor Vertex said it planned a major hiring initiative that would double the size of its consulting group over the next six months.

Software developer Rivet Software is introducing software to convert financial reports and documents into the interactive format that the Securities and Exchange Commission has been promoting.

Former Dynegy CFO Robert Doty Jr. will pay the Securities and Exchange Commission $375,000 for his role in a $300 million accounting fraud.

AICPA CEO Barry Melancon and other accounting profession luminaries have been appointed to the Treasury Department's new Advisory Committee on the Auditing Profession.

The trend toward convergence of accounting standards seems to be picking up speed after a bumpy start, but there are still plenty of hurdles ahead.

Robert Herz, chairman of the Financial Accounting Standards Board, has said he is in favor of a single set of global accounting standards.

The Internal Revenue Service has issued a new set of allowable living expense standards that it will use to determine the ability of a taxpayer to pay a delinquent tax liability.