Accounting Profession News
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EU Orders Single Accounting Standards Starting in 2005 for EU Companies
The European Commission has ordered all of the European Union's 7,000 publicly traded companies to switch to international accounting standards…
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FASB to Study Pension Accounting
The body that sets US accounting rules will start a review of rules governing the way companies measure benefit obligations…
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KPMG Admits 115 New Partners
Accounting firm KPMG LLP has announced the admission of 115 new partners into the U.S. firm. Of the 115 partners,…
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CAs’ panel in India points finger at surrogate auditing
The CAAC (Chartered Accountants Action Committee) in India has fired its first salvo against corporates in India using surrogate entities…
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Auditor questions accounting at BearingPoint
An auditor has found flaws in accounting practices at BearingPoint Inc., formerly KPMG Consulting Inc., according to a regulatory filing.…
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Deloitte Bucks Trend by Continuing to Consult
Jim Quigley, chief executive of accounting giant Deloitte & Touche LLP, ran his hands down the softly glowing sides of…
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Big Companies Rule Out Non-Big 4 Auditors
Most large U.S. companies won't even consider hiring an auditor from outside the ranks of the Big 4 accounting firms,…
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Former Ernst & Young partner arrested
A former partner with Ernst & Young was arrested yesterday and charged with obstructing a federal investigation of one of…
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Applix fires Ernst & Young as SEC probe continues
Applix Inc., a maker of business software, said on Monday it fired Ernst & Young as its independent accounting firm…
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ING Bank Sues JP Morgan, Deloitte
ING Bank contends it lost hundreds of millions of dollars as a result of a “massive Ponzi scheme” at now-defunct…
