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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PwC: Foreign investors in India may be crucial for setting up ARCs
Foreign investors in India may be crucial to set up effective asset reconstruction companies (ARC) and give teeth to the…
