KPMG Chief Withdraws from SEC Hearings
Butler was allotted just 30 minutes to give his opinion on the controversial proposals, and would have had to share that time with five others. The KPMG chief asked to be heard in the morning, so he could leave for a meeting in Germany, but the agenda  scheduled Butler to appear at 2:45 pm.
Butler withdrew from the hearing and wrote SEC chairman Arthur Levitt claiming that the Commission "is not seriously interested in hearing my views."
In May, Butler launched a no-holds-barred attack  on the SEC rules governing auditor independence, calling the present independence framework "archaic, irrelevant and discriminatory."