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Outside audit: booming audit firms seek shield from suits

Article Abstract:

The top four U.S. accounting firms, PricewaterhouseCoopers, Deloitte & Touche, Ernst & Young and KPMG, are lobbying the U.S. government for protection against court damages. The firms, which have been very financially successful recently , are concerned about lawsuits for damages for flawed audits.

Government regulation (cont), Financial management, Government regulation, Public affairs, Accounting, auditing, & bookkeeping, Accounting & Auditing Services, Accounting, Tax Preparation, Bookkeeping, and Payroll Services, Legal/Government Regulation, Cases, Laws, regulations and rules, Finance, Political activity, Auditing, Accounting firms, Accounting services, Company financing

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U.S. SEC broadens probes to include entire sectors: in a significant change, agency shifts its focus from single wrongdoers

Article Abstract:

The Securities and Exchange Commission is investigating a wide range of industries in efforts to clamp down on securities fraud. Investigations include petroleum industry reporting of oil reserves and high technology industry executive compensation practices.

Investigations, Securities fraud, United States. Securities and Exchange Commission

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