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Dubai auditors representative committee makes key appointments

The 11-strong representative committee of the Professional Auditors Business Group, a Dubai-based business group formed with the legal backing of Dubai Chamber of Commerce and Industry in February, has held its first meeting at the Chamber. Mr Ahmed Al Banna, Deputy Director General of DCCI, chaired the meeting. The committee elected key posts to help administer the group's affairs, interact ...

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Asahi becomes KPMG member

Asahi & Co has become a member firm of KPMG International in Japan. Asahi and KPMG entered into a co-operation agreement 10 months ago and since then they have been working together to strengthen their relationship. KPMG will be the largest of the major accounting and business advisory organisations in Japan, with a combined fee income of around $500 million, ...

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2003 Handbook of International Auditing, Assurance, and Ethics Pronouncements Now Available

The International Federation of Accountants has released the 2003 edition of its Handbook of International Auditing, Assurance, and Ethics Pronouncements, containing all pronouncements issued as of December 31, 2002. These pronouncements are designed to be sufficiently specific, understandable, comprehensive, and definitive to influence and guide the judgments of auditors worldwide in carrying out their work. International Standards on Auditing (ISAs), ...

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Deloitte to Keep Its Consulting Unit

Deloitte Touche Tohmatsu reversed course on Friday and said that it would keep its consulting business, becoming the only accounting firm in the Big Four to retain its consulting and auditing services. Deloitte announced plans to spin off its consulting work in February 2002 when the corporate accounting scandals fueled calls for change. It was the last of the big ...

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New IFAC Publication Focuses on Quality of Earnings

The International Federation of Accountants’ (IFAC) Financial and Management Accounting Committee (FMAC) has released a new publication designed to educate management, accountants and other business decision makers about a wide range of issues that impact the quality of earnings. Quality of Earnings Case Study Collection was first published by the American Institute of Certified Public Accountants (AICPA). “Recognizing the importance ...

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Wall Street Players Hail XBRL

New York: The XBRL programming code for financial reports could provide a major boost to stock market investors, according to investment industry authorities at a symposium here. XBRL will lead to “the democratization of data,” said Alfred R, Berkeley, vice chairman of the NASDAQ Stock market. He said XBRL's potential to help investors and searchers more easily gather and disseminate ...

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PwC Poised to Close Profession's “Expectation Gap”

Auditing firm PricewaterhouseCoopers LLP is working to close the gap between what the public assumes auditors provide and what current accounting standards actually require, the firm's chairman, Dennis M. Nally, told 400 business executives at the Economic Club of Detroit. Stressing that a high-quality audit is essential to delivering the level of assurance investors require, he said PwC is working ...

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KPMG Legal is to rebrand as Kensington Swan

KPMG Legal in New Zealand is to rebrand as Kensington Swan from 1 April 2003. The decision to return to its former name after nearly three years as KPMG Legal has been driven by increased regulatory focus on auditor independence and changing attitudes to corporate governance issues by international and domestic clients. The legal firm’s CEO, Graham Shaw says that ...

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KPMG celebrates 30th year in UAE

KPMG which started its UAE operations with a small office in Dubai in 1973 has grown in a big way during the last 30 years and has now 200 professionals operating from six offices nation-wide. It had reported revenues of $10.72 billion last year. The UAE practice is part of the global network of KPMG, which has over 100,000 people ...

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Deloitte opts for limited liability

Deloitte & Touche yesterday became the last of the Big Four accounting firms to say it would adopt limited liability status in an attempt to protect partners from Enron-style negligence claims. The UK arm, which absorbed Andersen's former partners and much of its business after the firm's collapse last year, announced its intention to convert in early summer. PricewaterhouseCoopers, Ernst ...

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