The Resnick Group LLC, based here, has merged its practice with New York-based accounting and financial consulting firm Druckman Hill LLP.

The Securities and Exchange Commission named Linda C. Thomsen to head the agency's enforcement division succeeding Stephen Cutler, who is leaving the regulator this month for a post in the private sector.

In the midst of a massive restatement, troubled mortgage-finance concern Fannie Mae said it won't file its first-quarter financial report with the Securities and Exchange Commission on time.

The NASD has censured and fined Raymond James & Associates Inc. and Raymond James Financial Services Inc. $750,000 for violations relating to the firms' fee-based brokerage business.

The number of internal controls weaknesses related to lease accounting issues jumped more than 10 percent in April, according to a report released this week.

The Public Company Accounting Oversight Board is soliciting nominations and re-nominations to fill 14 slots on its Standing Advisory Group.

Saks Inc. asked three of its top executives, including its chief accounting officer, to resign, following an investigation by its audit committee related to the improper collection of vendor markdown allowances in one of its merchandising divisions.

A newly issued revenue procedure, Rev. Proc. 2005-28, makes it easier for some taxpayers to adopt a simpler method of allocating and apportioning interest expenses in determining their net U.S. and foreign-source income for foreign tax credit purposes.

In response to the Financial Accounting Standards Board's recent proposal on the Hierarchy of GAAP, the American Institute of CPAs has issued an exposure draft introducing a proposed Statement on Auditing Standards that would apply only to nongovernmental entities.

In spite of President Bush's recent efforts to push his plan to overhaul Social Security, a majority of Americans surveyed disapprove of Bush's handling of the issue, according to a recent poll.

The Financial Planning Association, Moss Adams LLP and SEI Advisor Network are seeking financial planners to participate in their biennial compensation and staffing benchmark study.

TIAA-CREF's handling of an auditor independence issue that led to the resignations of two company trustees last December was "ultimately successful, although there were substantial missteps" along the way, according to a report released Thursday.

Reporting standards -- despite their complexity -- should be an exercise in honest communication, not merely an exercise in compliance, regulators and standard-setters told attendees at a financial reporting conference here.

Super-regional firm Plante & Moran has expanded its services and presence in the Chicagoland area with the addition of Wetmore & Associates, a boutique firm specializing in benefit plan audits.

The Securities and Exchange Commission this week filed fraud charges against Richmond, Va.-based paperboard and plastic packaging supplier Chesapeake Corp. and four of its former executives in connection with the company's 2000 restatements.

The Financial Accounting Standards Board has published an exposure draft to rank generally accepted accounting principles.

Driven in part by costs associated with Sarbanes-Oxley compliance, Fortune 1000 firms have paid more than $3.6 billion for their 2004 audits, up from $2.2 billion in 2003, according to a report by accounting professors at the University of Nebraska-Omaha.

Shifts by the Internal Revenue Service from a focus on taxpayer service to enforcement, and of the management of the Business Systems Modernization program from contractors to staff entail risks, according to the Government Accountability Office.

As founding partner of Milberg Weiss Bershad & Schulman LLP, Melvyn I. Weiss is generally considered one of the country's premier class-action litigators, particularly in the areas of accounting and securities fraud.

Washington - The cost of compliance with Section 404 of Sarbanes-Oxley should drop significantly for some companies, according to a report commissioned by the Big Four firms.