PwC continues Yukos legal battle…

PCAOB adopts AS6…

Deloitte US appoints vice chai…

KPMG announces breakdown…

LEGAL
PwC continues Yukos legal battle

PricewaterhouseCoopers (PwC) Russia will continue to fight claims
it was guilty of assisting former Russian oil company Yukos with
tax evasion despite a recent Moscow arbitration court decision
turning down the firm’s appeal against the charges. The recent
ruling upholds a March 2007 court decision following a case brought
by Russian tax authorities against PwC Russia and Yukos. PwC Russia
is believed to be the country’s largest accounting network. A
spokesperson from PwC Russia said the firm will re-appeal the
decision.

STANDARDS
PCAOB adopts AS6

The US Public Company Accounting Oversight Board has adopted the
new Auditing Standard No 6 – Evaluating Consistency of Financial
Statements and an accompanying set of amendments to the board’s
interim auditing standards. The new standard and amendments update
the auditor’s responsibilities to evaluate and report on the
consistency of a company’s financial statements and align the
auditor’s responsibilities with the Financial Accounting Standards
Board’s Statement of Financial Accounting Standards No 154 –
Accounting Changes and Error Corrections.

PEOPLE
Deloitte US appoints vice chair

Deloitte US has elected a new vice chairman to serve
the governance committee. Stephen Van Arsdell, who has been a
partner of the board since 2003, will continue his focus on the
delivery of Deloitte’s services to a number of the organisation’s
most prestigious clients. He will remain based in Deloitte’s
Chicago office. Van Arsdell also serves as chairman of the board’s
Finance and Audit Committee and previously chaired the board’s Risk
Committee.

FINANCIAL RESULTS
KPMG announces breakdown

KPMG International has revealed fee income breakdown
by region in its 2007 Annual Report. In the Asia-Pacific region,
KPMG noted growth of 22 percent and a fee income of $2.5 billion.
In the firm’s Europe, Middle East and Africa region, the network
generated revenues of $10.7 billion and growth of 21 percent, while
in North America KPMG grew 11 percent to $6.6 billion. The network
reported particularly strong growth of 41 percent in the BRIC
countries (Brazil, Russia, India and China).