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That board, in turn, has the authority to conduct annual reviews of the largest accounting firms, set ethics standards and discipline accountants.
The new agency, the Public Company Accounting Oversight Board, has been given a broad mandate to set ethics and conflict-of-interest standards, discipline accountants and conduct annual reviews of the largest accounting firms.
In October, it hired its first chief accountant, a partner from Ernst & Young, one of the largest accounting firms.
Of these markets, the UK is the largest, accounting for 17% of non-US sales.
And it distinguishes the firm from its three most important competitors among the largest accounting firms.
The board is also required to inspect the largest accounting firms yearly to ensure compliance with rules.
Similar(5)
Michelle Hickox, an accountant with McGladrey, the nation's fifth-largest accounting firm, based in Bloomington, Minn., said her firm's Flexyear policy had helped keep her from quitting.
With the collapse of Arthur Andersen, BDO is the fifth-largest accounting group in the world.
Andersen, the fifth-largest accounting firm, had asked Deloitte for additional scrutiny in light of financial reporting issues at Enron.
Eugene D. O'Kelly, chairman of KPMG, the third-largest accounting firm, announced that the deputy chairman, Jeff Stein, would retire at the end of the month.
Last year, Block acquired Olde Financial, a brokerage firm, along with a mortgage company and the nation's seventh-largest accounting firm.
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