The Securities and Exchange Commission today (July 25) voted unanimously to publish a Concept Release for public comment on allowing U.S. issuers, including investment companies, to prepare their financial statements using International Financial Reporting Standards (IFRS) as published by the International Accounting Standards Board.

SEC Approves PCAOB Auditing Standard No. 5 Regarding Audits of Internal Control Over Financial Reporting; Adopts Definition of "Significant Deficiency"

June Marks 50th Consecutive Month of Positive Global Comparable Sales

Deloitte & Touche performed additional audit work for six public-company clients after accounting-industry inspectors raised concerns about its work, but it said the extra effort didn't change the inspectors' conclusions on the firm's finances, The Wall Street Journal reported Tuesday.

Tesco Corporation announced the filing of its first Annual Report on Form 10-K with the Securities and Exchange Commission as a U.S. domestic filer; the Company had previously reported as a foreign private issuer. The Annual Report on Form 10-K includes final audited financial statements. As previously announced, the Company's net income for the year ended December 31, 2006 was $30.5 million and diluted earnings per share was $0.83.

Global Payments Inc. announced financial earning results for its third quarter ended February 28, 2007. For the third quarter, revenue grew 16 percent to $260.4 million compared to $225.2 million in the prior year. Excluding the impact of current period stock option expense, diluted earnings per share grew 22 percent to $0.44 compared to $0.36 in the prior year quarter.

R Split III Corp. is pleased to announce the exchange ratios for the Company's exchange option with respect to its offerings of class A capital shares and class A preferred shares. Under the Exchange Option, prospective purchasers could exchange common shares of Royal Bank of Canada for Capital Shares and Preferred Shares together in Units (consisting of two Capital Shares and one Preferred Share) or for Capital Shares.

Penn West Energy Trust announced that it has filed with Canadian securities regulatory authorities its audited consolidated financial statements and accompanying notes for the year ended December 31, 2006 and related Management's Discussion and Analysis.

Teranet Income Fund today announced its annual and fourth quarter financial results for the period ended December 31, 2006.