Accounting Profession News
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New accounting rule to add US$5b to Citigroup assets
Citigroup Inc, the world's largest financial services company, yesterday said a new accounting rule for variable interest entities (VIEs) will…
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Ernst & Young chief urges EU and US regulators to end dispute
A leading accountant has urged US and European regulators to patch up their differences and give clear guidance to auditors…
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PwC Consulting Settles Lawsuit Over Staff Bonuses
When Megan Secrest graduated from Penn State in 2001, she moved to Washington, D.C., with plans to work at PricewaterhouseCoopers…
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KPMG UK’s fraud barometer shows record level of fraud
More fraud cases have been recorded in the first half of 2003, than the whole of 2002. Fraud cases reached…
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New IIA chapter in Oman to promote professional auditing
The Institute of Internal Auditors (IIA) has formed its Oman chapter under the sponsorship of Oman Air. Oman Air aims…
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Oversight Board Proposes Rules for Auditors
The accounting industry's oversight board in USA yesterday proposed new rules for investigating and punishing auditors, and some members of…
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Institute censures two accountancy firms over audits
Two of Ireland's leading accountancy firms have been “censured” by the Institute of Chartered Accountants in Ireland (ICAI). The institute…
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SEC bans two former chip maker auditors
The Securities and Exchange Commission in USA on Tuesday barred two auditors for missing signs of financial fraud that occurred…
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DTT implicated in $1 billion suit
The bankruptcy trustee for United Companies Financial Corp., a mortgage lender and a darling of Wall Street that collapsed in…
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Embattled Ernst & Young rings in big changes
Barely a year ago Ernst & Young, like its peers, was racing to pick up the pieces left behind by…
