Audit & Accounting

Broker/dealers who are not registered as investment advisors must now give brokerage customers a disclosure stating that their interests may not always be the same as their customers.

Cardinal Health Inc., a maker of medical supplies, said it has set aside $25 million to cover the costs of a potential settlement with the Securities and Exchange Commission.

Premier Financial Bancorp Inc. announced a settlement with the Securities and Exchange Commission concerning concealed loan losses at a bank subsidiary.

The American Institute of CPAs has won a 2005 Clarion Award from the Association for Women in Communications for its national "360 Degrees of Financial Literacy" program.

Morgan Stanley may face a fine of more than $10 million for failing to archive a number of e-mails needed in connection with Securities and Exchange Commission investigations. Published reports said that a final decision on any penalty is likely still months away.

The International Federation of Accountants has issued new guidance on environmental management accounting.

Looking to avoid the publicity of a trial, the country's largest trash hauler will pay $26.8 million to cover most of the costs of a settlement between former executives and the Securities and Exchange Commission.

A survey by Fidelity Investments recently found that one-third of working adults are delaying their retirement plans due to financial reasons.

Saks Inc. said that its internal investigation confirmed the results of an earlier audit that one of its Saks Fifth Avenue stores overcharged vendors by millions.

Specifics of a deal are being hammered out between federal prosecutors and KPMG LLP, and the name of former Securities and Exchange Commission Chairman Richard Breeden is being floated to serve as in independent monitor of the firm's future activities.