accounting firms news from FierceComplianceIT
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Has Sarbox worked regarding nonaudit fees?
Pre-Sarbanes-Oxley, there was a lot of consternation about the many conflicts of interest posed by audit firms that also performed a lot of nonaudit work for the same client. The law, which prevented... Read more...
Audit firms charging small companies too much?
Top exchanges have long blamed Sarbanes-Oxley for making IPOs that much more scarce. The reality may not be simple, but you can hardly blame exchange officials for lambasting anything that cuts into... Read more...
Study finds continuing auditor deficiencies
Section 104(b) of Sarbanes-Oxley requires that accounting firms that provide audit reports for more than 100 issuers must be inspected annually. The rule was intended as a check on the audit firms,... Read more...
Two Big Four firms hired as part of bailout effort
We've noted in FierceFinance that the broad TARP has attracted more than a few asset management firms vying to help the Treasury Department buy and sell... Read more...
PCAOB takes PwC to task
There has been a lot of talk about how the new Sarbanes Oxley, as rendered in the PCAOB's AS5, will ease the burden and make audit firms less conservative in their approach. But you have to wonder,... Read more...
Audit conflicts must go!
We recently suggested it would be a good idea for firms to get rid of all potential conflicts of interest in... Read more...
Is the Sarbox hiring boomlet over?
People jokingly refer to Sarbanes-Oxley as the full employment act for accountants. Clearly, a lot of accountants, as well as finance and IT types, owe their jobs to the law. But the San Francisco... Read more...
PCAOB finally fines a Big Four firm
It had to happen. I guess later rather than sooner is good enough. For the first time, the PCAOB has fined a big four accounting firm. Deloitte has been fined $1 million for the troubled 2003 audit... Read more...
Deloitte says goodbye to Radian
In this era, whenever a top accounting firm decides to drop a client, you can bet the rumor will crank up. Case in point: Deloitte & Touche's decision to no longer serve as Radian Group's... Read more...
Paulson will take a look at audit industry
Blue ribbon-type committees are usually formed in the wake of some perceived crisis, like the nation's financial competitiveness. Sarbanes Oxley has been one reason for the spate of committees that... Read more...
