Audit & Accounting

Louisiana's treasurer said the state should hire one of the Big Four firms to handle the accounting and auditing of the federal funds flowing into the state for the Hurricane Katrina recovery effort.

Three months after restating its 2004 earnings, stun gun manufacturer Taser International Inc. said it had fired its accounting firm.

Employer-sponsored retirement plans, including 401(k) programs, will be allowed to make loans and hardship distributions to victims of Hurricane Katrina and members of their families, the Internal Revenue Service said.

Interpublic Group of Companies Inc., which includes several of the world's largest advertising agencies, said in a filing with the Securities and Exchange Commission that it will correct four years of earnings spanning 2000 to 2004.

PricewaterhouseCoopers, Britain's biggest audit firm, will face formal complaints from the country's Accountancy Investigation & Discipline Board in connection with the failure of bus manufacturer TransBus.

Ameriprise Financial, formerly American Express Financial Advisors, launched its first advertising campaign since announcing plans to spin off from its parent company, American Express Co.

Merrill Lynch & Co. Inc. announced a new options expensing policy for all U.S. equity research analysts that will be implemented as of the first reporting date after Sept. 30.

The International Federation of Accountants is seeking input for the development of a how-to guide on implementing International Standards on Auditing for small and midsized businesses.

Two technical committees from Financial Executives International have sent a letter making suggestions to the Financial Accounting Standards Board's proposed interpretation, "Accounting for Uncertain Tax Positions."

Eugene D. O'Kelly, 53, former chairman and chief executive of KPMG, died Sept. 10 at his New York City home at the age of 53.