Audit

A key outside advisory committee wants the Securities and Exchange Commission to be more open to accepting an accountant's judgment in interpreting standards.

A new report finds the cost of compliance with Sarbanes-Oxley Section 404 internal control audit requirements for smaller public companies is actually about 14 percent lower than the Securities and Exchange Commission's original estimates.

The Tax Governance Institute plans to host a video Webcast on the new tax preparer standards on Jan. 15 from 1 pm to 2:30 pm EST.

The audit market for large public companies has become more concentrated among the Big Four firms, but not enough to require corrective action, according to a government report.

KPMG has created a Web portal with accounting and business resources for university professors.

The International Accounting Standards Board has issued a revised version of its standards for accounting for business combinations such as mergers and acquisitions, in coordination with the Financial Accounting Standards Board, in a move that will highlight the expenses of business combinations that used to be considered assets.

Deborah Nolan, former commissioner of the Large and Mid-Size Business Division of the Internal Revenue Service, has joined Ernst & Young as a partner.

Anchin, Block & Anchin LLP has merged with H.J. Behrman, adding 26 accounting and tax professionals to Anchin's roster and building the firm's real estate practice.

Ernst & Young has been holding a conference in New York this week to attract ethnically diverse college students to the tax profession.

This free, new webinar details how practitioners are implementing the new audit standards that change how non-public company, not-for-profit and governmental audits are performed.

Catapult Communications has decided to replace Deloitte & Touche as its outside accounting firm to reduce accounting expenses.

Payroll processor Paychex has introduced a debit card that offers a way for a business client's employees to access their flexible spending account funds.

KPMG plans to host a webcast on Section 904 regulations and their potential implications on the foreign tax credit positions of U.S. multinationals.

This free, new webinar details how practitioners are implementing the new audit standards that change how non-public company, not-for-profit and governmental audits are performed.

Thomson Tax & Accounting's PPC brand has issued a guide to help auditors cope with Statement on Auditing Standards No. 112, "Communicating Internal Control Related Matters Identified in an Audit."

SUN HEALTHCARE JETTISONS E&YSun Healthcare Group, an Irvine, Calif.-based provider of specialty health services primarily to seniors, has dismissed its auditor, Big Four firm Ernst & Young, and named PricewaterhouseCoopers as its new independent accountant.

A new wealth management firm is launching as a result of a merger between Yampolsky Mandeloff Silver Ryan and Citrin Cooperman & Co. LLP.

FedEx said it is preparing to meet with an audit team from the Internal Revenue Service to discuss the IRS's tentative conclusion that FedEx should reclassify its delivery drivers as employees rather than independent contractors.

Is weather more important than healthcare costs? According to a new national research from Longevity Alliance and conducted by Harris Interactive, U.S. adults aged 40+ who plan on relocating after they retire may overlook how their healthcare costs could change from one location to another. Actually, about three in four (76 percent) of adults planning to relocate after retirement say that they consider the cost of healthcare as important or very important in their decision. But, the cost of healthcare is ranked number three of five behind the overall cost of living, and climate, and just ahead of ease of transportation and proximity to friends and family. What this means is that overlooking the cost of healthcare and health insurance can have real consequences for retirees. Costs vary from one part of the country to another and insurance premiums, Medicare health plans, Medicaid, and long-term care rates can also change exponentially. As an example, consider that the average annual premium for a Medicare Supplement insurance policy in New York could be around $3,700; yet that same policy holder moving to Phoenix will find the premium to be as low as $1,200. Quite a difference. According to Longevity Alliance president Steve Zaleznick, too may times, people considering retirement and relocation don’t give any thought to how it could affect their healthcare and insurance costs. “As retirees grow older, those costs grow larger, so choosing a region that makes those costs affordable is a key component of a sound retirement strategy.” Zaleznick offers five specific tips before anyone moves:

Accounting firm Beard Miller Co. has combined with Edwards Sauer & Owens, a Pittsburgh-based CPA firm that will build BMC's presence in central and western Pennsylvania.