US law raises audit costs

Article Abstract:

The US congress passed the Sarbanes-Oxley act which means Australia's biggest companies will face increase in audit cost in order to improve corporate governance since the widely publicized collapsed. Dean Kingsley, a Deloitte Touche Tohmatsu partner states that this could mean the companies are facing an increase of 5% in their ongoing audit costs as a result of the new laws in United States.

United States, Commodity & service prices, Prices and rates, Auditing, Corporate governance, Company pricing policy

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New rules, more clients

Article Abstract:

The details on the rise in outsourcing of internal accounting work by small and medium-size enterprises because of the impact of accounting standards and corporate governance regulations are examined.

Use of services, Economic aspects, Accounting, Small and medium sized companies, Accounting procedures, Outsourcing

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A matter of privilege

Article Abstract:

The issue of client confidentiality privilege for accountants on tax matters, on par with lawyers, is discussed.

Marketing procedures, Legal services, Tax planning, Law firms, Confidential communications, Customer relations

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