Practice
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Big Four Lose Clients As Smaller Firms Gain
In 2003 each of the accounting profession's biggest firms lost more public company audit clients than it acquired, while smaller…
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More and more companies part ways with their auditors
There's no love lost between a growing number of companies and their auditors. More than 1,460 companies in USA either…
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Lancer Corp. auditor KPMG quits during SEC probe
The accounting firm that audits the books at Lancer Corp. has quit and plans to withdraw three years' worth of…
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Deloitte fined 750,000 pounds
Britain's financial watchdog said on Wednesday it had fined a unit of Deloitte & Touche, the world's second-largest accountancy firm,…
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IFAC Releases Guidance to Assist Public Sector Entities with Transition from Cash Basis to Accrual
The International Federation of Accountants' (IFAC's) Public Sector Committee (PSC) has recently released the following two documents: Study 14 (2nd…
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IFAC Invites Comments on Documents Addressing Policies of Governments From Non-Exchange Transactions
The International Federation of Accountant's (IFAC) Public Sector Committee (PSC) has issued Invitations to Comment (ITCs) on two critical financial…
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IAASB Issues a New Framework and Standard for Assurance Engagements
Environmental, social and sustainability reports, information systems, internal control, corporate governance processes and compliance with grant conditions, contracts and regulations…
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IASB issues draft interpretations to clarify scope of leasing standard and on decommissioning funds
The International Financial Reporting Interpretations Committee (IFRIC) has today released two Draft Interpretations—D3 Determining whether an Arrangement contains a Lease…
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IASB publishes porposals on exploration and evaluation assets
The International Accounting Standards Board (IASB) has taken the first step towards improving accounting practices in the extractive industries—the oil…
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KPMG linked to Worldcom tax scam
A court examiner accused accounting firm KPMG of helping WorldCom avoid paying hundreds of millions of dollars in state taxes.…
