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Action plan for accountancy Document will detail demand and supply, and how the profession should be regulated
PETALING JAYA: Malaysia’s accountancy sector is expected to get a much-needed action plan by the year-end. The document will contain recommendations that mainly address the demand and supply of accountants in the country for the next several years, and how the profession should be regulated.
NEW YORK: In a blow to one of the world's largest accounting firms, KPMG said it resigned as auditor of two U.S. corporations amid an FBI investigation into insider trading allegations involving leaked information and a former senior partner.
NEW YORK/HONG KONG: Tales of shady business practices abound in China - fake revenues, phony invoices, sham factories - but until recently, the problem seemed confined mostly to Chinese companies.
Errol Oh wonders just how much one candepend on the independent auditorsopinion on a companys financial statementby illustrating the case of Bina Goodyear.
WASHINGTON/SINGAPORE: U.S. regulators have charged the Chinese arms of the world's five top accounting firms with securities violations, raising tensions in a regulatory standoff which experts say could kill off U.S. listings for Chinese firms if not resolved.
Errol Oh says its a good thing that theaccounting fraternity has responded to theAuditing and Assurance Standards Boardsproposals to improve the auditors reporton financial statements, adding that itsimportant to offer opinions publicly, nomatter how small the voice.