Former Andersen Auditor Made Same Mistake Twice

Posted by accountingweb on Dec 21 2000 114 printer friendly

AccountingWEB ran a story earlier this month regarding the failed Baptist Foundation of Arizona audit by Arthur Andersen.

It now has been discovered that the auditor, Jay Ozer, also was involved in a failed audit 10 years ago with Lincoln Savings & Loan, The Arizona Republic reports that it obtained the investigative report from the Attorney General's office that provided details on Ozer.

According to the state of Arizona's Attorney General's office, the demise of Lincoln was the largest bank failure in U.S. history.

This also marks the first time the state has actually compared two financial failures and made accusations against one person. Andersen still says the firm did nothing wrong.

Voice of the Editor

Even though any accounting auditor would tell you it seems like there are an awful lot of tax accountants out there, surely one-third of the country isn't made up of tax preparers, so it's rather startling news to learn that one-third of Americans like to do their taxes. Who knew?

This Week on AccountingWEB

Bill Walter of Gross, Mendelsohn & Associates and Harold Gaar of TravisWolff LLP weigh in on mobile technology use while employees are at work.

WestArk RSVP and Fayette County Community Action Agency – organizations that received grant funding through the IRS Tax Counseling for the Elderly (TCE) program – spoke with AccountingWEB about how they assist senior citizens in their communities.

CPA Robert Raiola, who heads the Sports & Entertainment Group of Fazio, Mannuzza, Roche, Tankel, LaPilusa, LLC, talks NFL player income taxes with AccountingWEB.

Retiring KPMG Centennial Professor of Accounting at the University of Texas at Austin McCombs School of Business Robert May, PhD talks with AccountingWEB about his rewarding forty-three-year career.