Audit & Accounting

Bail was denied to one of the former KPMG partners charged by the federal government in connection with the sale of allegedly fraudulent tax shelters.

More than two-thirds of all small businesses favor setting different Sarbanes-Oxley compliance standards for small and large companies, according to a recent study commissioned by SAP America Inc.

Securities and Exchange Commission Chairman Christopher Cox named Scott Taub as the agency's acting chief accountant.

While the Internal Revenue Service has made "great strides" in addressing financial management challenges and internal control deficiencies, a report from the Government Accountability Office stated that the service still faces substantial hurdles in that area.

The Internal Revenue Service has issued Notice 2005-88, which explains steps that large corporations and tax-exempt organizations can take to seek waivers from electronic filing requirements.

The Public Company Accounting Oversight Board announced new appointments and re-appointments to its Standing Advisory Group for 2006.

The Financial Accounting Standards Board will add a new project to its agenda and reconsider its accounting guidance for pensions and other retirement benefits.

The upcoming International Standards Organization's 22222 standard is now in a final ballot, with the objective of achieving and promoting a globally accepted benchmark for individuals who provide the professional service of personal financial planning.

Big Four firm PricewaterhouseCoopers and technology and electronics concern Hitachi America have partnered on a program integrating Hitachi's proprietary XBRL product with PwC's audit management software.

Bond insurer MBIA Inc. will restate its earnings for the past seven years, as well as set aside $75 million in anticipation of settling with regulators over an accounting probe into defaulted bonds.