PracticeAuditNew US regulator follows Andersen trail

New US regulator follows Andersen trail

In an ironic twist-of-fate, the heralded new US accountancy regulator, created to counteract Enron-like scandals, is literally following in the footsteps of Enron's auditor Andersen.

Link: US audit watchdog bares its teeth

The Public Company Accounting Oversight Board, who holds its first public meeting today, is moving into the eighth and nighth floor of an office just three blocks from the White House.

The reason why these premises in this popular area were vacant, is that they used to be the Washington base of Andersen. After the Department of Justice found the Big Five firm guilty of obstruction of justice, its operations shrunk to just a handful of lawyer looking after outstanding suits.

One thing in favour of the oversight board: it is not likely to find stray files lying around – the defunct firm had an excellent reputation for shredding and tidying up.

Related Articles

Is predictive analytics the end of the annual audit?

Audit Is predictive analytics the end of the annual audit?

3d Martin Herron, MHA MacIntyre Hudson
Auditors ‘in the dock’ over Carillion as report calls for Big Four break-up

Audit Auditors ‘in the dock’ over Carillion as report calls for Big Four break-up

1w Emma Smith, Managing Editor
PCAOB sanctions former Deloitte Turkey CEOs over altered documents

Audit PCAOB sanctions former Deloitte Turkey CEOs over altered documents

2w Alia Shoaib, Reporter
KPMG South Africa to review past audit work amid fresh scandal

Audit KPMG South Africa to review past audit work amid fresh scandal

1m Alia Shoaib, Reporter
FRC introduces £10m sanctions for Big Four firms

Audit FRC introduces £10m sanctions for Big Four firms

1m Alia Shoaib, Reporter
Ukraine’s PrivatBank files $3bn claim against PwC

Audit Ukraine’s PrivatBank files $3bn claim against PwC

2m Alia Shoaib, Reporter
Grant Thornton to exit FTSE 350 audit market, citing Big Four dominance

Audit Grant Thornton to exit FTSE 350 audit market, citing Big Four dominance

2m Alia Shoaib, Reporter
Big Four dominate FTSE 250 audit market in Q1 rankings

Audit Big Four dominate FTSE 250 audit market in Q1 rankings

3m Alia Shoaib, Reporter