PracticeAccounting FirmsTexans gunning for Andersen

Texans gunning for Andersen

As if the gunfight at the Houston coral was not enough, now Andersen is firmly in the sights of the Texan accounting authorities, with a $1m dollar bounty on its head.

According to reports, the Texas State Board of Public Accountancy has recommended revoking the firm’s operating licence, accusing it of violating rules in its dealings with collapsed energy trader Enron.

The Board announced that it was seeking at least $1m (£700,000) in fines from the firm, in what would be by far the biggest enforcement action in its history. It is seeking $1,000 from the firm for every perceived violation of its accounting rules – a list that it says could well ‘number into the thousands’.

Andersen, which is already facing a federal trial over its auditing of Enron’s books, said it was regrettable that the board had rushed to such a judgement.

Related Articles

Productive accountancy firms lead the way

Accounting Firms Productive accountancy firms lead the way

2h Simon Adcock, HSBC
LLPs in Top 50+50: Will LLPs continue to be the preferred set-up?

Accounting Firms LLPs in Top 50+50: Will LLPs continue to be the preferred set-up?

1d Fergus Payne, Lewis Silkin
BDO’s global revenues pass $8bn

Accounting Firms BDO’s global revenues pass $8bn

1w Alia Shoaib, Reporter
Top 40 International Networks, Associations and Alliances: Finding growth amid uncertainty

Accounting Firms Top 40 International Networks, Associations and Alliances: Finding growth amid uncertainty

1w Philip Smith, Reporter
Top 40 International Networks, Associations and Alliances 2017: Big Four tussle for top spot

Accounting Firms Top 40 International Networks, Associations and Alliances 2017: Big Four tussle for top spot

2w Emma Smith, Managing Editor
BDO reports revenue growth of 5.7%

Accounting Firms BDO reports revenue growth of 5.7%

2w Alia Shoaib, Reporter
Taylorcocks announces merger with Surrey firm

Accounting Firms Taylorcocks announces merger with Surrey firm

2w Emma Smith, Managing Editor
Kingston Smith reports 7% gender pay gap

Accounting Firms Kingston Smith reports 7% gender pay gap

2w Emma Smith, Managing Editor