Audit & Accounting

A day after Securities and Exchange Commission Chairman William Donaldson announced that he would step down from his post at the end of the month, President Bush announced his nomination of Republican Congressman Christopher Cox of California as the next head of the SEC.

PricewaterhouseCoopers LLP has reportedly reached an agreement to pay about $41 million in civil penalties to settle claims that it over-billed the government for travel-related expenses.

Securities and Exchange Commission Chairman William H. Donaldson announced that he would step down at the end of the month.

Three years after the guilty verdict that effectively destroyed the firm, the Supreme Court has overturned the conviction of Arthur Andersen for shredding documents related to its audits of energy giant Enron Corp.

The American Institute of CPAs has expanded upon its 360 Degrees of Financial Literacy program with the launch of a financial literacy program targeted at women.

Following the completion of an internal review, insurer American International Group Inc. finally filed its repeatedly delayed 2004 annual report.

The Securities and Exchange Commission, which has been after public companies to tighten their internal controls as mandated by Sarbanes-Oxley, needs to do some tightening itself, according to the Government Accountability Office.

The Standing Advisory Group of the Public Company Accounting Oversight Board will meet next month to discuss topics related to the implementation of PCAOB Auditing Standard No. 2, which deals with internal control audits.

The Institute of Internal Auditors has released a series of free reports for chief internal audit executives and their staffs intended to provide guidance in assessing technology-associated risks and implementing best practices.

The Public Company Accounting Oversight Board released guidance related to attest engagements regarding Extensible Business Reporting Language data furnished under the Securities and Exchange Commission XBRL Voluntary Financial Reporting Program on the Edgar System.