Five Indian members of PriceWaterhouseCoopers International have been censured by the SEC for their role in missing signals of massive fraud by Satyam Computer Services. That fraud included overstatement of  bank accounts by hundreds of millions of dollars from 2006 through 2008 for a total of more than $1 billion in overstated revenue and cash. The fraud was undetected until the company's former chairman confessed in 2009. The problems led PW International to replace the audit teams involved and auditors from PW firms outside India were brought into the country in 2009 to provide audit leadership. The five firms were also ordered to pay a $6-million civil money penalty as they agreed to a cease-and-desist order.
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CCH has named a new vice president of publishing as the previous occupant ended up out of the company. And combined with the recently announced creation of a tax business unit, it appears the Wolters Kluwer subsidiary is in the middle of a significant reorganization. Paul Gazzolo took over the position, replacing Gene McGovern who left CCH after serving the company since March 2003. Gazzolo was previously president of encyclopedia publisher, World Book.

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The WG&L VAT Handbook, already available on the Checkpoint platform, has been released in print version. The handbooks offers expert guidance, a comprehensive overview of key concepts, examples and illustrations, and practical steps for Value Added Tax compliance. Read more...