Thursday, August 18, 2005

Accounting Issues Not Unique to US

Accounting firms have in some cases been the target of US government investigations - - just state the name Arthur Andersen, LLP and everyone understands.  But is this unique to the U.S.?  And are other countries handling things differently by having agency investigations as opposed to criminal investigations?

In the Wall Street Jrl. here it is reported that the UK Accountancy Investigation & Discipline Board is investigating Deloitte & Touche LLP on its handling of matters related to MG Rover Group Ltd.(U.K. automobile company).  MG Rover's collapse in April has led to an investigation (See BBC here)   

Is a pattern developing?  First a company has problems, and then who do they look to blame - the accountants.   

(esp)

http://lawprofessors.typepad.com/whitecollarcrime_blog/2005/08/accounting_issu.html

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