Former Andersen Auditor Made Same Mistake Twice
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.