AccountingWEB Weekly News Wrap-Up - Issue 195
- PCAOB Launches New Web Site
- Ex-Con Tells All to Auditors
- Qwest Executive Agrees to Pay Millions in Settlement
- Senate Panel Scrutinizes Wall Street Settlement
- Oversight Board Gives IRS a Mixed Review
- FASB Grapples With Valuation of Stock Options
- Former SEC Chief Pitt Forms Consulting Practice
- Senate Votes 'Yea' on $350 Billion Tax Cut Bill
- Canadian Regulators Okay Use of US GAAP
- AccountingWEB Interviews Ron Baker
- Tailor Your Day for Productivity - Focuser or Juggler Quiz
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With state budgets facing crisis situations all across the
country, more and more creative solutions to budget deficits continue to appear. This week we report on a proposal in the Massachusetts legislature to allow for corporate sponsorships of state landmarks, such as Walden Woods. (See Cash-Strapped States Consider Corporate Sponsorship  for details.)
Think of the possibilities! The Johnson & Johnson Statue of Liberty; The Frito-Lay Grand Canyon; The Coca Cola Great Lakes; Metamucil's "Old Faithful" (wait, I think I've already seen that one in a television commercial.)
I'm all in favor of good old-fashioned capitalism, but I don't think I can stomach a Mount Rushmore brought to you by Gillette. If you have some other great corporate sponsorship ideas, send them in to me at Editor , and we'll publish the best of the best in an upcoming newswire!
Michael Platt, CEO
1. PCAOB Launches New Web Site 
The Public Company Accounting Oversight Board has launched a new Internet site for those who want to keep up to date on the latest news and information regarding the Sarbanes-Oxley Act and the activities of the Board.
Earlier this year, AccountingWEB featured an article by Mark Morze entitled "Ex-Con Tells How Auditors Fail to Help Clients Guard Against Fraud." Because the interest was overwhelming, we have invited the author to join us in a conference call to describe the processes he went through to create one of the most notorious financial frauds of the 1980s, ZZZZ Best. If you are an auditor or involved with your company's financial reporting system, you won't want to miss this insightful hour. Space is limited, so register today! 
IF YOU PROVIDE AUDIT SERVICES, YOU NEED THIS GUIDE! PPC's Guide to Fraud Risk Assessment: Implementing SAS 99 and Related Guidance was developed to give you everything you need to efficiently implement the new standard. This Guide is a complete package of tools--technical guidance, staff training and client education--all in one comprehensive product. Check it out now! 
In what marks the first time a corporate executive has been
penalized for participating in the practice known as IPO
spinning, former Quest Communications International Inc.
Chairman Phillip F. Anschutz has agreed to pay millions in
United States Senators have expressed skepticism and have questioned whether the recent Wall Street settlement against large investment banks would lead to meaningful reform and help the average investor.
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Don't miss next week's featured articles on AccountingWEB:
1. Press Releases - A Simple Marketing Tool For Your Firm
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3. Seven State Sales & Use Tax Exemptions You Should Know About
4. The Importance of Succession Planning
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