Accounting Rule in the Balance; Levitt Lobbying to Save
Washington Post (10/24/00) Vol. 104, No. 42 p.E1; Sugawara, Sandra

Securities and Exchange Commission Chairman Arthur Levitt is moving across the country, campaigning for his proposal that would prohibit large accounting firms from providing consulting services to audit clients. Levitt's proposal has caused protests from accountants, led by the AICPA, which argues that Levitt has no evidence that there is a conflict of interest when accountants provide both services. KPMG Chairman Stephen G. Butler said that the more information auditors have about a client the better the quality of the audit will be. Butler said the "regulation in its premise and basic thrust would actually weaken, rather than strengthen, the quality of auditing and investor protection."


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