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  • Lawmakers in the US have introduced a bill to the Senate that would force companies to record stock options on financial statements or lose a tax break
  • The US trade authorities are claiming that the EU has overestimated the amount of trade sanctions it is claiming over a tax dispute by over $3 billion
  • International accounting and business services network HLB International has added two new members to its network
  • The European Commission’s enterprise policy group has concluded that conditions for innovative and entrepreneurial enterprises need to be improved if the EU is to reach its goal of creating the most competitive knowledge-based economy in the world in the next 10 years
  • PricewaterhouseCoopers is cutting 200 jobs in its UK tax practice, becoming the second big five firm in a week to take such action
  • The Council of Institutional Investors has called for reform to the US auditing and corporate governance system, to protect against scandals such as Enron
  • In the wake of the Enron scandal, troubled big five firm Andersen has announced it intends to reform its US audit practice
  • The European Commission has adopted proposals to help member states work together to fight tax and customs fraud more effectively
  • Washington-based regulatory firm Miller & Chevalier is to open an office in Brussels
  • KPMG will make at least 150 redundancies from its UK tax practice, with the professional service firm’s London office expected to be worst affected