IRS a hidden winner in Big Six deals: CPAs may have to cash out stock of new clients
Partners at the soon-to-merge Coopers & Lybrand and Price Waterhouse may be doing more this summer than combining their files. They also could be realigning their personal portfolios.
That's because partners of certified public accounting firms can't hold a direct or indirect interest in companies their firms audit. Securities and Exchange Commission regulations and the American Institute of Certified Public Accounts' code of ethics both say so.
If, for instance, a Coopers &
Learn more about reprints and licensing for this article.