Audit & Accounting

After four months, the Securities and Exchange Commission has already revisited its rule on disclosing executive compensation.In a statement issued Dec. 22, SEC Chairman Christopher Cox said that the new requirements will make it easier for companies to prepare statements and for investors to understand the cost of stock options.

A CPA will take over as the Securities and Exchange Commission’s chief financial officer and associate executive director of finance.The appointee, Kristine Chadwick, had most recently served as the chief financial officer for the Department of Agriculture's Farm Service Agency, Foreign Agricultural Service, and Commodity Credit Corporation. She will replace Margaret Carpenter, who is retiring in January after 32 years in the federal government.

As federal regulators continue tweaking new public accounting rules, opponents of the Sarbanes-Oxley Act will find more fuel for their argument in the news that Hong Kong passed over New York in 2006 to become the world's second most popular place for companies to issue new stock listings.London remained at the top of the list.

For the business community, going public has always been where the real money is.

Employers and benefit providers are coming up with some rather interesting ways of providing employee benefits in a cost effective manner.

A Utah businessman has become the third person to enter a guilty plea in the criminal probe over tax shelters promoted by 16 former executives of Big Four firm KPMG.

The Public Company Accounting Oversight Board has revoked the registration of Armando C. Ibarra PC of Chula Vista, Calif., and censured Dallas-based Turner, Stone & Co. LLP, citing violations of PCAOB guidelines and auditing standards uncovered during its inspection process.

The Internal Revenue Service is lifting a moratorium on determination letter applications for conversions from traditional defined benefit pension plans to so-called cash balance plans.

Derrick Kinney is one of the most charming people on the face of the earth. He is also recognized as one of the nation’s leading authorities on helping small business owners, entrepreneurs, and the self-employed succeed with the affluent. Moreover, he is the author of the bestselling "Master the Media to Attract Your Ideal Clients."

The long-awaited trial of 16 former executives at Big Four firm KPMG on charges of conspiracy and tax evasion will begin in September.