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Monthly Archives: August 2006

GAO Report on Financial Accounting Restatements

Financial Restatements: Update of Public Company Trends, Market Impacts, and Regulatory Enforcement Activities, Full text GAO-06-678, and Highlights, July 24, 2006. “While the number of public companies announcing financial restatements from 2002 through September 2005 rose from 3.7 percent to 6.8 percent, restatement announcements identified grew about 67 percent over this period. Industry observers noted… Continue Reading

Tax Haven Abuses Hearing and Report

U.S. Senate Committee on Homeland Security and Governmental Affairs Permanent Subcommittee on Investigations hearing – Tax Haven Abuses: The Enablers, The Tools & Secrecy: “The Subcommittee’s…August 1st hearings will present case histories on the use of offshore trusts and corporations to circumvent U.S. tax, securities and anti-money laundering laws. Witnesses for the upcoming hearing will… Continue Reading

GAO Report Examines Role of Coast Guard in Katrina Reponse

Coast Guard: Observations on the Preparation, Response, and Recovery Missions Related to Hurricane Katrina, Full-text GAO-06-903, and Highlights, July 31, 2006. “The Coast Guard played a key role in the planning, response, and recovery efforts for Hurricane Katrina in three mission areas: search and rescue, marine pollution response, and management of maritime commerce. This report… Continue Reading