Jane Bryant Quinn Analyzes SEC/Levitt Matter
In this story, she brings the facts to a level that would be interesting to investors rather than the firms themselves based on what a ruling for or against the firms could mean.
Specifically, a negative ruling could affect the cost of stocks and bonds. 'If an auditor accepts an aggressive accounting position ... one that overstates a profit ... it places all stockholders in danger,' she says. 'The price of your stock will plunge, if the truth comes out.'
It appears as if Quinn, herself, favors enforcing a split of the accounting and consulting function when she says, 'Specifically, an auditing firm should not be certifying financial statements that the firm itself produced.'