SHOWDOWN WITH THE SEC - September 2000 Hearings

SEC Issues Final Rules on Auditor Independence
The SEC voted unanimously to approve new guidelines for auditors. Four of the Big Five firms acquiesced in accepting the rules, KPMG being the hold out firm that still feels the rules are unnecessary. The AICPA has indicated it has no problem with the final rules.

The Public's Profession
SEC Chairman Arthur Levitt spoke to members of the AICPA at the Fall Council meeting in Las Vegas, Nevada, on October 24, 2000.

SEC Takes One Step Back
SEC Chairman Arthur Levitt has indicated his willingness to take steps toward "mending and renewing the relationship between the SEC, the AICPA, and the profession," in an address before the AICPA yesterday.

Levitt Takes on Accountants in Las Vegas Showdown
The casino city of Las Vegas, Nevada, today hosts a heavyweight confrontation between the main adversaries in the battle of auditor independence.

Mr. Levitt Goes to Washington
Undaunted by days of public pleas for more time and less restrictive guidelines from members of the accounting profession, Chairman of the SEC, Arthur Levitt, is will appear in Washington today to make his case for auditor independence before Congress.


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Complete Transcripts - all SEC Testimony
Looking for some good bed-time reading? Read what all of the witnesses have had to say about the SEC's proposed auditor independence guidelines. All of the transcripts of all testimonies from public hearings held on July 26, September 13, and September 20 are now available for your perusal.

THERE'S STILL TIME ! ! !
Are you concerned about the SEC proposed guidelines to limit the scope of services performed by accounting firms? It's not too late to voice your opinion.

Accounting Professionals Speak Out in Online Forum
Members of the accounting profession joined together Tuesday in an Open Forum sponsored by AccountingWEB and voiced their views on the proposed SEC hearings on auditor independence.

SEC Hearings, Final Day: Schedule of Witnesses
In response to requests for additional time to present views, the SEC has added an additional day of testimony to its Day Three schedule of auditor independence hearings. The final day of testimony will be Thursday, September 21, in Washington, D.C.

SEC Hearings, Day Three: Schedule of Witnesses
Herewith, the schedule of witnesses for public hearing on auditor independence before the Securities & Exchange Commission, Wednesday, September 20.

Join Your Colleagues Today: Open Forum on SEC Hearings
AccountingWEB announces an Open Forum to hear opinions and ask questions of AICPA panel members and others regarding the proposed SEC rules for auditor independence.

Levitt Castigates Big Five
In a press conference this morning in Washington, D.C., Arthur Levitt, Chairman of the SEC, challenged small accounting firms to take on the Big Five in a fight to restore public trust to the accounting profession.

OPEN FORUM ON SEC HEARINGS ANNOUNCED
AccountingWEB announces an Open Forum to hear opinions and ask questions of AICPA panel members and others regarding the proposed SEC rules for auditor independence.

SEC's Auditor Guidelines - What all the Fuss is About
Are you still confused about all the news of the SEC proposed changes to the auditor independence requirements? Read the full text of the proposed ruling to see how it affects you.

SEC Gives Big Five One More Day
Bowing to pressure from the Big Five, the SEC has scheduled an extra day of hearings in the turbulent auditor independence issue.

KPMG Chairman's Unspoken SEC Testimony
KPMG Chairman and CEO Stephen G. Butler withdrew from the SEC auditor independence hearings Wednesday morning claiming, "The Commission is not seriously interested in hearing my views." Well, we are - and here is a summary of the testimony that was never presented.

Second Auditor Independence Hearing Today
Representatives of the accounting profession gather in New York today for day two of the three-day SEC auditor independence hearings.

ICAEW President Gives International Outlook on SEC Audit Rules
ICAEW President Graham Ward will urge the SEC to drop its prescriptive, rules-based approach to audit regulation in favour of the UK-style framework approach being developed internationally.

http://www.accountingweb.com/cgi-bin/item.cgi?id=26401&d=101&h=0&f=0&dateformat=%o%20%B%20%Y">KPMG Chief Withdraws from SEC Hearings
KPMG chief executive Stephen Butler pulled out of today's SEC hearings because of the shorst amount of time allowed at the stand.

Auditor Recommendations Offered in Time for SEC Hearings
The Panel on Audit Effectiveness, which was appointed by the SEC to evaluate the way in which audits are performed and the effects of such audits on the public interest, has issued its final recommendations in anticipation of next week’s SEC hearings.

Panel Chosen for Round 2 of SEC Hearings
The selections have been made and the invitation list completed. Once again, the participants bring to the table a mixture of backgrounds and expertise.

PwC Joins in Fight Against SEC
PwC has jumped into the ring with the other members of the Big 5, criticizing the SEC as going “too far” with its proposed scope of services limitations.

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