News Wrap-Up - Issue 258

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THIS WEEK'S NEWS
  1. CPAs are Called Upon to Self-Report on Quality Control Issues
  2. PCAOB Simplifies Whistleblowing, Opens Hot Line
  3. AICPA Launches Privacy Services Resources for CPAs
  4. IRS to Clamp Down on Reporting by Nonprofit Political Groups
  5. IRS Files $1M Tax Lien Against Baseball Great, Pete Rose
  6. CA Shareholders Defeat Recall of Bonuses; Vote to Keep KPMG
  7. SEC Bans Former HealthSouth Exec from Practicing Accounting
  8. Upcoming PCAOB Report Expected to be Critical of the Big Four
  9. Former IRS Lawyers Suspended for Tax Shelter Case
  10. CPA Indicted on Fraud & Tax Evasion Charges, With a Twist
  11. IRS, Treasury Issue Proposed Estate-Tax Rules

Check out the News Page for this week's news and more.

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THIS WEEK'S NEWS
  1. CPAs are Called Upon to Self-Report on Quality Control Issues

Accountants are being asked to report on their own firms' quality control procedures as well as their clients'. The model
rules represent best practices recommended by NASBA to all state boards based on measures that have already been initiated in some states, as well as issues addressed in the Sarbanes-Oxley Act of 2002.

  1. PCAOB Simplifies Whistleblowing, Opens Hot Line

As the Board completes its reports, which are scheduled to be released shortly, on voluntary inspections of the Big Four accounting firms, the Board is finding more people willing to come forward to report corporate wrongdoing.

  1. AICPA Launches Privacy Services Resources for CPAs

With privacy services a burgeoning practice discipline for CPAs, the American Institute of Certified Public Accountants is helping its members achieve success with a series of privacy- related resources.

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  1. IRS to Clamp Down on Reporting by Nonprofit Political Groups

A new enforcement initiative by the Internal Revenue Service aims to give the public a clearer picture of who is contributing to tax-exempt political groups and how those donations are being spent.

  1. IRS Files $1M Tax Lien Against Baseball Great, Pete Rose

This month the Internal Revenue Service hit Pete Rose with a $1 Million federal tax lien, contending that the wannabe baseball Hall of Famer owes the money for tax years dating back to 1997.

MORE HEADLINES...

  1. CA Shareholders Defeat Recall of Bonuses; Vote to Keep KPMG
  2. SEC Bans Former HealthSouth Exec From Practicing Accounting
  3. Upcoming PCAOB Report Expected to be Critical of the Big Four
  4. Former IRS Lawyers Suspended For Tax Shelter Case
  5. Florida CPA Indicted on Fraud and Tax Evasion, With a Twist
  6. IRS, Treasury Issue Proposed Estate-Tax Rules
  7. ACCOUNTINGWEB'S NEWS PAGE
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  3. When an Employee Quits, Your Management Responsibilities Don't
  4. Investor Scam; Con Artists Snaring Victims Across the Country
  5. Parmalat Seeks $10 Billion from Ex-Auditors

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