Word: auditioned
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Dates: during 2000-2009
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...blow the whistle. Much of the blame appears to fall on the codependent relationship of Enron and Anderson, but this situation is only indicative of a larger problem. The “Big Five” accounting firms often make more money from consulting fees from their audit clients than from audit fees themselves. They have the incentive to turn a blind eye to potentially illicit practices to make sure those consulting fees keep rolling...
These rookies, like Pitt, face a rough season. "There could be other Enron-like situations out there," says Arthur Levitt, the activist former SEC chairman. "Financial legerdemain from seduced audit committees, compromised accountants and inadequate standards could certainly crop up again at other U.S. companies." At the moment, the public's best protection against that sort of surprise is other brave whistle-blowers like Sherron Watkins...
...having trouble making Enron go away, it was Harvey Pitt, a lawyer who represented the Big Five accounting firms before Bush named him to chair the Securities and Exchange Commission last year. Until the Enron scandal broke, Pitt had waved away demands for stronger regulation of corporate accounting and auditing. There were calls from lawmakers for Pitt to recuse himself from the sec probe of Enron, but Pitt refused--after a fashion, anyway--saying that such a step would hurt the agency's standing. He added, however, that director of enforcement Stephen Cutler would run the probe anyway. Bush last...
...whistle-blower" Sherron Wadkins didn't just tell Lay in August about her fears that their company would "implode in a wave of accounting scandals" - she told a top man at Andersen, who then told three Andersen partners, including the recently disavowed David Duncan, who was overseeing the Enron audit...
...Jewish National Fund, which was set up to purchase land for Jews in what was then Palestine, and Bank Leumi, one of Israel's biggest banks, failed to examine land records and abandoned accounts for Holocaust money. Last April, a Knesset committee finally pushed Israel's banks to audit these accounts...