Audit & Accounting

The Securities and Exchange Commission has charged semiconductor maker Marvell Technology Group and its co-founder with backdating employee stock option grants.

The Public Company Accounting Oversight Board found problems with four audits conducted by Ernst & Young in its latest inspection report.

A merger between two corporate tax prep firms in Australia aims to give new competition to the Big Four.

The Treasury Department's Advisory Committee on the Auditing Profession has released a draft report outlining recommendations for improving the profession.

Securities and Exchange Commissioner Paul Atkins said he plans to leave the SEC at the end of his term, the latest in a string of departures for the commission.

iPro One has reached an agreement to purchase an ownership interest in HbK Sorce Financial, an investment advisory and wealth management firm with more than $1 billion in assets under management.

Amper Politziner & Mattia has merged with Goldenberg Rosenthal to create one of the largest regional firms in the Northeast.

Genworth Financial Investment Services has launched a new section of its Web site dedicated to practice management.

Three accounting firms based in Jackson, Miss., are combining with CPA firm BKD LLP.

Big Four firm KPMG could potentially face negligence litigation stemming from its audits of New Century Financial, the troubled mortgage company that collapsed last April, according to a report from an examiner for the bankruptcy court.The examiner, Michael Missal, a partner with Washington, D.C.-based law firm Kirkpatrick & Lockhart Preston Gates Ellis, said in a 580-page report that KPMG “failed to exercise due care in planning and carrying out its audits and reviews, failed to demonstrate appropriate professional skepticism with respect to management’s judgments, and failed to obtain sufficient competent evidence to support its opinions and representations to the company’s officers, directors and shareholders.”