SEC Chairman Harvey L. Pitt said Thursday the failure of Enron and its auditor Arthur Andersen clearly exposes the defects in the country’s “vaunted system of disclosure, financial reporting, corporate governance and accounting practices,” and the need to develop an entirely new method of financial oversight. Pitt outlined a Securities and Exchange Commission plan to form a new public entity that will be empowered to perform investigations, bring disciplinary proceedings, publicize results and restrict individuals and firms from auditing public companies.
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Articles from Andersen
Sen. Boxer: Top Enron Execs, Auditors Should Be Jailed
The next stop for some top Enron Corp. executives and the company’s auditor, Arthur Andersen LP, should be jail, said Sen. Barbara Boxer (D-CA), after listening last Tuesday to Enron employees, retirees and individual investors tell horror stories of fortunes lost.
Sen. Boxer: Top Enron Execs, Auditors Should Be Jailed
The next stop for some top Enron Corp. executives and the company’s auditor, Arthur Andersen LLP, should be jail, said Sen. Barbara Boxer (D-CA), after listening Tuesday to Enron employees, retirees and individual investors tell horror stories of fortunes lost.
BP, Accenture Sign $175 M Outsourcing Expansion Deal
BP and Accenture, formerly Andersen Consulting, jointly announced a $175 million expansion of BP’s U.S. refining and marketing energy outsourcing agreement. The companies said Accenture will design, build and run business systems that support the majority of BP’s U.S. downstream back-office business processes.
BP, Accenture Sign $175 M Outsourcing Expansion Deal
BP and Accenture, formerly Andersen Consulting, jointly announced on Tuesday a $175 million expansion of BP’s U.S. refining and marketing energy outsourcing agreement. The companies said Accenture will design, build and run business systems that support the majority of BP’s U.S. downstream back-office business processes.
FERC First Changes Announced At Last
Following an extensive four-month, $700,000 review of FERC’sprocedures and organization by staff and Andersen Consulting, theCommission yesterday formally announced its changes in structureand regulatory approach. The initiative, which includes creatingseveral new offices, efforts to increase pre-filing activities andnew regulatory approaches designed to speed up processing ofapplications, will be made effective over the next 18 months.