Anthony @ Equity Investigations, Dear Anthony, Message Board

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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,

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To: SEC-ond-chance who wrote (83121)	2/26/2003 9:04:29 AM
From: RockyBalboa	of 122087

Deloitte under siege Nothing learned from Andersen Debacle ------------------------------------------------------------ Dow Jones Business News Dutch Accounting Assoc Studies Deloitte's Ahold Work Wednesday February 26, 7:55 am ET AMSTERDAM -(Dow Jones)- A Dutch association of accountants is informally investigating whether Deloitte Touche Tohmatsu International was negligent in its handling of Royal Ahold NV's accounts. The Dutch body, Koninklijk Nederlands Instituut van Registeraccountants, or NIVRA, is an industry umbrella group which can refer member accountancies suspected of negligence to a disciplinary court which has powers to suspend an accountant from practicing. Deloitte Touche has said it performed its function as Ahold's auditor properly and had alerted Ahold to account irregularities. Ahold, a Dutch retailing giant, Monday said its chief executive and chief financial officer would step down following the disclosure of irregularities in accounting at its U.S. Foodservice unit. NIVRA can request an investigation into any of its member firms, if it believes there may have been negligence. The accounting industry in the Netherlands is self-regulating. NIVRA President Piet Hoogendoorn said the association hasn't requested a formal investigation. "We are looking at the news from Ahold and Deloitte Touche and compiling information. We will then take our position," Hoogendoorn said. Hoogendoorn is president of NIVRA on a part-time basis and is also an employee at Deloitte Touche. The presidency of the association rotates every two years.

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