Accounting Profession News
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PwC sets to take up limited liability status in new year
PricewaterhouseCoopers, the UK’s largest accountancy firm, has set a new target date of 1January 2003 to turn itself into a…
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Gemstar Drops KPMG as Auditor
New York (Nov. 5, 2002) TV Guide publisher Gemstar said it has fired KPMG, its outside auditor, following a disagreement…
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US government sues Ernst & Young
The accounting giant Ernst & Young has been taken to court by a US government agency. The government's $548m (£350m)…
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E&Y To Chart Out Plan For Kerala (India) Technopark’s Growth
The Kerala government has appointed Ernst & Young (India) to prepare a masterplan for the second phase growth of Technopark,…
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Ernst & Young sued for £1.3bn over bank failure
The US accounting industry was in the dock again last night as the federal government filed a $2bn (£1.3bn) lawsuit…
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Accounting firms deny scam accusations
Two small accounting firms in UK, whose assets have been frozen by the Financial Services Authority (FSA), have denied that…
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PwC Settles Anicom Suit for $21.5 million
NEW YORK (Reuters) – PricewaterhouseCoopers LLP agreed to pay $21.5 million to settle lawsuits by Anicom Inc. shareholders and creditors…
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Ernst & Young to sell vulnerability management tool
ESsecurityOnline, a security software company owned by Ernst & Young, is wading into the security management market with a vulnerability…
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Tyco's former general counsel says auditor knew of loans
The former general counsel for Tyco International Ltd., indicted for falsifying documents to conceal $14 million in loans, said in…
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Every 10th Public Comapny in US Restated their Accounts
One in 10 publicly traded companies made financial restatements because of accounting irregularities in the past five years, the U.S.…
