Sarbanes-Oxley aids overseas accountants

Article Abstract:

Strict regulations on internal corporate controls as laid out in the Sarbanes-Oxley Act, are creating more work for accounting firms, and specifically U.K. accounting firms such as the U.K. affiliates of PricewaterhouseCoopers and Ernst & Young. Both companies have seen their revenues increase thanks to the new Sarbanes-Oxley reporting requirements that cover not only U.S. companies, but also foreign-based companies that have securities listings in the U.S., of which the U.K. has many.

United Kingdom, Canada, Foreign operations, Sales, profits & dividends, Accounting, auditing, & bookkeeping, Accounting & Auditing Services, Accounting, Tax Preparation, Bookkeeping, and Payroll Services, Multinational Corporations, International business enterprises, Corporate governance, Company sales and earnings, Accounting firms, Accounting services, Company earnings/profit, Industry regulations, Government regulation of business, Ernst & Young L.L.P., PricewaterhouseCoopers L.L.P. (New York, New York)

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Sarbanes-Oxley changes take root

Article Abstract:

The enactment of the United States corporate accounting policy has produced increased financial restatements for 2005. Corporate financial restatements in compliance with the Sarbanes-Oxley Act of 2002 reached 1,195 in 2005, up from 613 in 2004. United States corporations are forecast to spend approximately $6 billion in 2006 to comply with the new accounting regulation.

Science & research, Research, Corporations, Corporate finance

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HVB to cooperate in tax inquiry, pay $29.6 million

Article Abstract:

HVB Group of Germany has been fined $29.6 million in an expanded inquiry into illegal tax shelters by United States authorities. The banking interest was fined in connection with the KPMG LLP of the United States case.

Commercial Banks, Germany, Other Financial Vehicles, Investors, not elsewhere classified, Tax Shelter Investment Svcs NEC, Banking industry, Company legal issue, Cases, Discipline, Tax shelters, HVB Group

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