SEC approves auditor and tax services rules.The SEC has approved PCAOB PCAOB Public Company Accounting Oversight Board ethics and independence rules concerning independence, tax services and contingent fees Payment to an attorney for legal services that depends, or is contingent, upon there being some recovery or award in the case. The payment is then a percentage of the amount recovered—such as 25 percent if the matter is settled, or 30 percent if it proceeds to trial. . The rules establish a general obligation requiring a registered public accounting firm and associated persons Associated Person The name given to participants within the futures market that are involved in the solicitation or facilitation of transacting customer orders, the maintenance of discretionary accounts, or the true participatory involvement in the futures market. to be independent of the firm's audit clients throughout the audit and professional engagement period. For more, visit http://pcaob.org/News_and_Events/News/2006/04-21.aspx. |
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