Accounting Profession News
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Grant Thornton's image threatened by Parmalat
Welcome to the big leagues! In an industry torn apart by scandals over the past two years, mid-size accounting firm…
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Sage to buy US rival ACCPAC
UK business software company Sage Group is to acquire rival business management software vendor ACCPAC in a cash deal worth…
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Pricewaterhouse Settles Billing Case
Accounting giant PricewaterhouseCoopers has agreed to a $54.5 million settlement in a case that charged it and other major accounting…
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KPMG Criticizes Court's Enron Report
Big Four accounting firm KPMG said a critical report by an independent examiner in Enron Corp.'s bankruptcy accusing the firm…
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ICMAP calls for increased role of cost auditors
The Institute of Cost and Management Accountants of Pakistan (ICMAP) has recommended to the Central Board of Revenue (CBR) that…
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FASB Issues Exposure Drafts to Support Convergence of Global Accounting Standards
The Financial Accounting Standards Board (FASB) in the USA will issue four Exposure Drafts that would improve U.S. generally accepted…
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IASB issues revised standards 32 and 39 focussing on Financial Instruments
The International Accounting Standards Board (IASB) has issued revised versions of its two Standards dealing with financial instruments. IAS 32…
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IASB issues 13 revised accounting standards and withdraws IAS 15
The International Accounting Standards Board (IASB) has published 13 revised International Accounting Standards (IASs) and gave notice of the withdrawal…
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KPMG 'obstructed US tax inquiry'
The US Justice Department has accused accountancy firm KPMG of obstructing an investigation into tax shelters. According to a court…
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New accounting rules in China ensure world norms are met
China will accelerate improvements to its accounting standards and policies next year to keep abreast with economic growth and the…
