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Non-Tech : The Enron Scandal - Unmoderated
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To: stockman_scott who wrote (1904)3/14/2002 8:57:37 PM
From: Zeuspaul  Read Replies (1) of 3602
 
In addition to competition issues, a number of leading critics of the accounting industry -- including Volcker and former SEC chairman Arthur Levitt Jr. -- warn that the collapse of Andersen may scotch the best opportunity in decades to clean up problems that are widespread in the accounting profession.

Their argument is that if Andersen can be "reformed" along the lines outlined by Volcker -- without the temptation to cut corners on audits to win lucrative consulting contracts -- it will create a tough, quality auditing firm sought after by corporations now eager to allay shareholder anxieties.

When it is their own kind they sing a different tune. Stiff jail sentences will work better.

Zeuspaul
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