Audit & Accounting

Already with a lengthy to-do list before adjourning for its August recess, reports have Congress moving to address the future of the estate tax soon.

CPA2Biz has developed an Audit & Control Technology Store to provide valuable product guidance, reviews and discounted technology tools to CPAs and financial managers.

Senate lawmakers indicated they could hold confirmation hearings as early as next week for nominees to the Securities and Exchange Commission.

A California judge sanctioned accounting firm KPMG last week for hiding documents in a $50 million accounting malpractice suit brought by computer case and accessory supplier Targus Group International Inc.

The American Institute of CPAs has produced a toolkit for government audit committees, the third in a series.

The Norwegian branch of KPMG International was ordered to pay $100 million in damages Friday, after Oslo's district court found that the accounting group was negligent in auditing the books of Finance Credit. KPMG International has said that it will appeal.

Republican leaders have said that movement on President Bush's plans to overhaul Social Security is unlikely to happen until after Congress' August recess.

Qwest Communications International Inc.'s former finance chief, Robin Szeliga, pleaded guilty to insider trading last week.

According to the Association of Government Accountants, federal accountability and reporting is trending upwards.

The American Institute of CPAs has received a 2005 Summit Award from the American Society of Association Executives for its national 360 Degrees of Financial Literacy program.