Audit

The labor union Unite Here has started a Web site to provide information about the progress of a class-action lawsuit against PricewaterhouseCoopers over the firm's overtime policies.

Citigroup settled a longstanding civil complaint from the Securities and Exchange Commission over improper accounting during the economic crisis in Argentina in late 2001.

Accounting firm Blackman Kallick announced the death of former managing partner Dan Fensin, who retired from the firm late last year after running it for 17 years.

The Internal Revenue Service has recently published an online guide to help its examiners assess the validity of businesses' claims for the research credit.

The Treasury Department's Advisory Committee on the Auditing Profession convened an open meeting to hear testimony on its draft report on recommendations for improving the profession, as well as to discuss an addendum with additional recommendations.

The Internal Revenue Service has issued a notice providing guidance on the effect of adding liquidity facilities to support auction rate preferred stock on the equity character of the stock.

In a long-awaited shift in purview, the Auditing Standards Board has eliminated its standard on the hierarchy of generally accepted auditing standards just as the Financial Accounting Standards Board issued a new standard establishing the same hierarchy.Chuck Landes, the American Institute of CPAs’ director of auditing and attestation, said that the ASB fully approved of the shift in a vote at its quarterly meeting in May.

With all the recent brouhaha over the subprime controversy and claims that mark-to-market accounting contributed to or even caused problems for investors in collateralized debt obligations, lots of people have been commenting on the relative usefulness of original cost and estimated market/fair value.One of the recurring themes raised by the chorus of critics (who shall remain nameless) is that original cost is preferable because it’s more reliable than estimated value.

The Certified Financial Planner Board of Standards has established a Jan. 1, 2009 enforcement date for its revised "Standards of Professional Conduct," allowing members more leeway before enforcement takes effect.

BKD said it is combining forces with the Hanke Group, allowing the Springfield, Mo.-based accounting firm to expand to Hanke's San Antonio and south Texas markets.

The American Institute of CPAs has published the second edition of "Audit Committee Toolkit: Public Companies," a guidebook to help audit committees carry out their corporate governance responsibilities.

The Treasury Department has introduced a prepaid debit card for Social Security payments and other federal benefits.

The Securities and Exchange Commission has voted to propose a series of reforms to credit-rating agencies to curb practices that led to trouble in the credit markets.

Payroll-processing service Paychex has added an auto-enrollment feature that allows employers to automatically sign up employees to participate in a 401(k) plan.

No matter how much money your client has, it's crucial to have a basic estate plan simply because such a plan will then ensure that the financial goals of the client are met after the client dies.

The Public Company Accounting Oversight Board has adopted rules requiring public accounting firms to submit reports at least once a year on fees, disciplinary actions and other information that will be posted on the PCAOB Web site.

No matter how much money your client has, it's crucial to have a basic estate plan simply because such a plan will then ensure that the financial goals of the client are met after the client dies.

No matter how much money your client has, it's crucial to have a basic estate plan simply because such a plan will then ensure that the financial goals of the client are met after the client dies.

The Financial Accounting Standards Board issued an exposure draft of a proposed standard on accounting for hedging activities.

No matter how much money your client has, it's crucial to have a basic estate plan simply because such a plan will then ensure that the financial goals of the client are met after the client dies.