HOW GOOD IS LEVITT'S ENDGAME?

摘要

Securities & Exchange Commission Chairman Arthur Levitt Jr. has the accounting industry right where he wants it: On the ropes. The scandal caused by Pricewater-houseCoopers' violations of auditor independence rules—in which half of the firm's partners were found to own stocks in companies it audited—has accountants cowering. The sec has taken a tough stance, directing Compaq Computer Corp. to drop PWC as its auditor and ordering follow-up probes at seven other top firms. But Levitt is pursuing a more ambitious goal: He hopes to harness public outrage to force big accounting firms to split their audit work from lucrative consulting practices, a move the Big Five have long fought.