Accounting Profession News
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Panel in India rules out compulsory rotation of auditors
While giving thrust on increased role of independent directors in listed companies and a clearcut definition of independent directors, the…
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Ex-Andersen Partner Charged With Fraud
Former Arthur Andersen partner Robert A. Putnam was charged by the U.S. with securities fraud for approving false financial reports…
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Post-Enron accounting firms thrive despite reforms
NEW YORK, Dec 23 (Reuters) – With the Enron-Andersen scandal looming over the accounting industry like a malignant growth at…
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Accountant Admits to Role in Scheme
An accountant from Tennessee in the US accused of helping defraud insurance companies in five states of more than $200…
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Ernst & Young, law firms sued 1 billion dollars over tax shelters
NEW YORK, Dec 22 (Reuters) – Former clients have sued accounting firm Ernst & Young and two law firms for…
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KPMG partner pain as profits slump by 21%
KPMG's profits from UK accounting activities fell by 21% last year according to figures released this week by the Big…
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Accounting rulemakers seek more time on pensions
The officials who set U.S. accounting standards on Wednesday sought more time to decide whether to overhaul rules on how…
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XBRL: Still A Ways Away From Saving The Day
Sixty percent of senior execs at financial institutions believe that trust in their industry has been eroded by the corporate…
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KPMG profits take a dive
KPMG International, the global accountancy firm, yesterday blamed a wave of accounting scandals sweeping the profession for a 22 per…
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SEC bars 3 former WorldCom accountants
WASHINGTON — The Securities and Exchange Commission has barred three former WorldCom Inc. accountants from working in that capacity because…
