UNITED STATES SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Release No. 41283 \ April 14, 1999
ACCOUNTING AND AUDITING ENFORCEMENT
Release No. 1124 \ April 14, 1999 ADMINISTRATIVE PROCEEDING
File No. 3-9872
PROCEEDINGS INSTITUTED AGAINST KEVIN E. ORTON, CPA, AND ORTON &
COMPANY
The Securities and Exchange Commission today instituted public
administrative proceedings charging that Kevin E. Orton, CPA
("Orton"), an accountant in Midvale, Utah, and Orton & Company
("ORCO"), his accounting firm, engaged in improper professional
conduct in connection with their audit of the consolidated
financial statements of PanWorld Minerals International, Inc.
("PanWorld") at and for the year ended December 31, 1994. The
Commission previously filed a civil action against PanWorld,
headquartered in Salt Lake City, Utah, charging it and others with
overstating its assets.
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In Salt Lake City, Jones Jensen Orton, which was founded in 1990, is set to join forces with IA. The firm has four partners and six other professional staff, and its fee income for 1994 was $827,000. Its revenues have grown by 56 percent in the last three years, according to IA statistics. |
