Former Arthur Andersen partner Daniel F. Stulac has escaped a maximum term of
30 years in jail after charges were dismissed against him for his role in the
firm’s audits of Peregrine Systems.
Software company Peregrine filed for bankruptcy in 2002 after uncovering
misstatements in previous financial reports. Both the CEO and CFO resigned after
the discovery and have since pleaded guilty together with 10 other defendants.
After six weeks of hearings the jury was deadlocked in the second trial of
Stulac, 43. Last August, following a three-month trial, the original jury
deadlocked with eight votes favoring acquittal on all counts.
Stulac’s attorney Michael Attanasio, a partner in law firm Cooley Godward
Kronish, said he believes the criminal case is over now that the charges have
been dismissed, US website WebCPA reported.
UK senior partner Phil Verity has been elected for a second term at Mazars
An audit partner has been appointed at Grant Thornton in its North West offices
KPMG has been appointed with “immediate” effect as the auditor of Dorcaster
The audit for Ibstock will be taken over by Deloitte following a competitive tender process