Audit & Accounting

The Securities and Exchange Commission will decide next Monday on its plans for any requirements and timeline for public companies to file their financial statements in an interactive data format.

CPAs who conduct valuations in the normal course of their practices are now required to comply with detailed standards.

The Internal Revenue Service has released draft instructions for the redesigned Form 990, the return that tax-exempt organizations such as nonprofit charities, hospitals and universities must file annually.

KPMG said it has set a goal of reducing its member firms' carbon emissions by 25 percent between 2007 and 2010 as part of a "global green initiative."

The Public Company Accounting Oversight Board released a copy of its annual inspection of Grant Thornton, noting several deficiencies in the firm's audits of five clients.

CPAs who conduct valuations in the normal course of their practices are now required to comply with detailed standards.

Two former Arthur Andersen auditors have settled charges with the Securities and Exchange Commission accusing them of failing to exercise due professional care and skepticism in their 2001 audits of bankrupt telecommunications giant WorldCom.

Lately, it seems like the concepts of fair value measurement and mark-to-market accounting have been taking a lot of blame in the hand-wringing over what is causing the fallout in the credit and mortgage securities markets.

Piano maker Steinway Musical Instruments has opted to tune out Deloitte & Touche as its outside auditor and replace the Big Four firm with UHY, after its audit committee decided UHY offered a better price.

An Oregon federal court has permanently barred John Fitzgerald of Portland and his three daughters - Marilyn Dial, Martha Farr Sharp and Karen Gray - from marketing a tax fraud scheme involving sham nonprofit corporations that customers used to evade federal taxes, the Justice Department said.