The Securities and Exchange Commission appointed New York attorney Lee S. Richards III as the independent examiner for Islandia, N.Y.-based software manufacturer Computer Associates. Richards will serve as examiner for a minimum of 18 months. His appointment was part of an agreement that CA signed in September to end an investigation onto accounting fraud. In his new role, Richards, a partner in the New York law firm of Richards Spears Kibbe & Orbe LLP, will oversee compliance with the settlement, make best practices recommendations to the board, and revamp the company's finance and accounting departments. The SEC settlement stems from a $2.2 billion accounting fraud that ultimately led to the ouster of several top managers, including chief executive Sanjay Kumar. The company had been backdating purchase orders and keeping the books open past the period close.
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Making use of refunds; playing defense; how to use thin air; and other highlights of recent tax cases.
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New FICPA chair begins tenure; Blue & Co. opens new office in Chattanooga; and more news from across the profession.
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House Republicans passed the wide-ranging Trump tax legislation dubbed the One Big Beautiful Bill Act, overcoming resistance from a group of GOP holdouts and united opposition from Democrats.
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Plus, FileAI announces V2 platform launch; Foxit launches PDF and Document Workflow APIs; and other accounting tech updates.
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The American Institute of CPAs' Auditing Standards Board is looking for feedback on a proposed standard updating auditors' responsibilities related to fraud.
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The jobs report beat expectations, while the unemployment rate dipped one-tenth of a percentage point to 4.1%.
July 3