 |
Sarbanes-Oxley News & Developments
SEC Warns Auditors on Contingency FeesChief accountant warned the major accounting firms to stop charging contingency fees for handling the tax work of companies they audit or else face enforcement action.
> > SEC Chief Accountant Donald Nicolaisen recently met privately with the seven biggest firms, urging them to fully disclose contingency-fee arrangements to the company audit committees that oversee their work. He also warned the firms that they might face SEC investigations over the contingency fees, which are payments based on a percentage of tax savings.
Source: CFO
Published:2004-06-22
|
|
