European Commission plans to bring the European Union into line with the possibly less stringent Sarbanes-Oxley measures to ban audit firms from offering tax and other non-audit services to audit clients are facing controversy as the issue moves to the European Parliament.

The Public Company Accounting Oversight Board is continuing to prod officials in Washington for the power to make public its disciplinary proceedings against auditing firms and auditors.

The National Society of Accountants is providing a free Web tutorial to help tax practitioners get ready for the Internal Revenue Service’s upcoming Registered Tax Return Preparer competency tests.

Firm News - January 20

Five Accounting Firms Make Fortune's Best Companies List

Succession planning, recruiting, M&A and developing top talent and pricing pressures were among several front-burner issues that came to the forefront during a roundtable discussion by members of the Advisory Board.

Credit rating agency Fitch Ratings said in a new report that it expects the U.S. will still move forward with plans to incorporate International Financial Reporting Standards into U.S. GAAP, but in a “prolonged, cautious and incremental way.”

HA&W Names Next MP

The Financial Accounting Standards Board has made available the 2012 U.S. GAAP Financial Reporting Taxonomy, which can be used to submit XBRL-format financial filings to the Securities and Exchange Commission.

Canada’s three legacy accounting bodies—the Canadian Institute of Chartered Accountants, the Certified Management Accountants of Canada, and the Certified General Accountants of Canada—presented a proposed framework to their members Tuesday for uniting Canada’s accounting profession.

More than three-quarters of investment bankers surveyed by BDO USA indicated that Chinese accounting scandals have led them to increase their due diligence when vetting China-based offerings.

Financial Accounting Standards Board chair Leslie Seidman has been reviewing the suggestions that have been coming in about the proposed Private Company Standards Improvement Council while awaiting a decision on how much authority her board will have over the new council.

Snack maker Diamond Foods is reportedly being investigated by federal prosecutors who are working with the Securities and Exchange Commission to probe the accounting for the company’s payments to walnut growers.

Firm News - January 13

The Governmental Accounting Standards Board has added two new members: municipal securities investment manager William W. Fish and government auditor James E. Brown.

Financial Executives International has released a list of the top challenges in 2012.

The Financial Accounting Foundation has conducted its first post-implementation review of an accounting standard, starting with FIN 48, “Accounting for Uncertainty in Income Tax Positions,” and found it generally achieved its purpose, though it still needs some improvement.

Call for Submissions: Top 100 Firms and Regional Leaders

Check out the digital edition of the January 2012 issue of Accounting Today.

The Chartered Institute of Management Accountants could eventually merge with the American Institute of CPAs, according to CIMA’s chief executive.