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Towards a Better Understanding of the Financial Statement Auditor Reports

IRS Updates Temporary Address and Expedited Ruling Request Procedure

Defining the 7 Elements of Governmental Financial Statements

LIFO Effect on Oil Company Profits Draws New Scrutiny

Hedge Fund Managers Welcome SEC's New Guidance


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NEWS IN-DEPTH: LAPTOP BATTERY RECALL

Owners and users of Dell Latitude(TM), Inspiron(TM), XPS(TM) and Dell Precision Mobile Workstation(TM) notebook computers should be aware that, under rare conditions, certain batteries sold for use with these models may overheat and pose a fire risk.

No injuries have been reported, however, users are warned to stop using the batteries immediately. Laptop computer models affected by the battery recall can still run on the AC power adapters, MarketWatch reports.

More than 4 million notebook batteries containing cells manufactured by Sony will be repaired or replaced by Dell. Approximately 2.7 million of the recalled batteries were sold in the U.S. and another 1.4 million were sold overseas. It is one of the largest recalls in the history of the U.S. Consumer Product Safety Commission, according to BusinessWeek.

UPDATE: PC World is reporting that it may take weeks, or longer for out of production models, to get replacement batteries for those affected by the recall. When the replacement does eventually arrive, it should be accompanied by postage paid packaging for returning the old battery. The recall process is most likely the fastest process, Dell spokesperson Gretchen Miller tells PC World.

For more information about the recall, read the entire article "Dell Recalls Millions of Laptop Computer Batteries" Click Here.


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WHITE PAPER: ETHICS EDUCATION

"The paper is the result of a wide-ranging research project into ethics education in the worldwide accountancy profession. It is designed to stimulate discussion and debate on the subject of ethics education," states International Accounting Education Standards Board (IAESB) Chairman Henry Saville. "The paper, and the findings of the independent research team, will be of interest and benefit to IFAC member bodies, regional accountancy organizations, accounting educators, and others seeking to implement ethics education programs for professional accountants."

"Approaches to the Development and Maintenance of Professional Values, Ethics and Attitudes in Accounting Education Programs" is a new information paper that will serve as the basis for the development of an International Education Practice Statement (IEPS) 4.1 "Approaches to Developing and Maintaining Professional Values, Ethics and Attitudes", which is scheduled for publication during 2007, that will assist and support the International Federation of Accountants (IFAC) member bodies in carrying out their responsibilities to ensure that candidates for membership in an IFAC member body are equipped with the appropriate professional values, ethics and attitudes to function as professional accountants, as required by International Education Standard 4.

The 187-page paper includes chapters on the role and issues of ethics education; an inventory and analysis of current and good practice; institutional strategies; resources and databases; and a flexible framework for learning ethics, values and attitudes, among others.

"Approaches to the Development and Maintenance of Professional Values, Ethics and Attitudes in Accounting Education Programs", a new white paper, takes a closer look at international ethics education. The full report is available: Click Here.
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August 17, 2006








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