"​Corporate Auditors Focusing on Cash and Securities" says New York Times. The article discusses the recent "$​275 million impairment charge taken last week by Bristol-​Myers Squibb" over auction-​rate securities. It says that Samuel DiPiazza Jr. of PricewaterhouseCoopers spoke recently about the "challenge facing auditors in determining the market value of financial assets for which there is no real market". He "​even raised the possibility of an auditor challenging the value of a money market fund held by one of its corporate clients, saying that a statement sent out by a fund sponsor might not be enough to prove an investment was worth the stated amount. Instead, the auditor might need to look at the securities held by the fund, and judge their market value," says the Times.

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