Audit & Accounting

Bally Total Fitness Holding Corp. said Wednesday that its new auditor, KPMG, will need more time to review the company's financial statements for 2002-2004.

Corporate officers or authorized agents can now sign employment tax forms by facsimile, including alternative signature methods such as computer software programs or mechanical devices.

The Financial Accounting Standards Board published a draft of a proposed interpretation, "Accounting for Uncertain Tax Positions," yesterday. The draft seeks to reduce the diversity in practices associated with recognition and measurement in the accounting for income taxes.

The U.S. Department of Labor reached an agreement Monday to set aside $356 million from the sale of Enron's assets to cover some of the bankrupt energy company's retirement and pension plan benefits.

Patrick Conroy was named vice chairman and national managing principal of the consumer business practice for Deloitte & Touche USA LLP.

Harley-Davidson announced that the Securities and Exchange Commission is investigating shareholder complaints that the motorcycle manufacturer engaged in channel stuffing.

California Rep. Christopher Cox, President Bush's nominee for chairman of the Securities and Exchange Commission, disclosed his stock, mutual fund and other assets on Tuesday, the value of which could range from $2.7 million to $5.9 million.

PricewaterhouseCoopers will pay $41.9 million in civil penalties to settle claims that it over-billed the government for travel-related expenses.

After nearly two years of deliberation, the Securities and Exchange Commission dismissed an administrative proceeding against two former partners of Arthur Andersen & Co. last week.

The executive stock option settlement initiative launched in February has received a strong turnout, according to the Internal Revenue Service. The initiative provided corporate executives and their companies a means to resolve an abusive tax transaction involving the transfer of stock options to family controlled partnerships.