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Joseph F Berardino

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BUSINESS
December 5, 2001 | Associated Press
The nation's five largest accounting firms, facing a barrage of criticism over their work in auditing companies' finances, Tuesday vowed to abide by higher standards in the future. "When businesses fail and public confidence wanes, all involved in the capital markets have a responsibility to actively seek to understand the core problems and pursue meaningful solutions," the chief executives of Arthur Andersen, KPMG, Deloitte & Touche, PricewaterhouseCoopers and Ernst & Young said in a statement.
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BUSINESS
May 14, 2002 | JEFF LEEDS, TIMES STAFF WRITER
Former Arthur Andersen accountant David B. Duncan testified Monday that he orchestrated a campaign to destroy Enron Corp. audit documents and knew at the time that he was breaking the law. "I obstructed justice," said Duncan, testifying for the first time in Andersen's criminal trial in federal court here. "I instructed people on the [audit] team to follow the document-retention policy, which I knew would result in the destruction of documents."
BUSINESS
April 19, 2002 | JERRY HIRSCH, TIMES STAFF WRITER
Efforts by former Federal Reserve Chairman Paul A. Volcker to save accounting firm Arthur Andersen by transforming it into a smaller audit-oriented business have been stymied by dissent within the firm, according to people familiar with the situation. Consulting partners, who would have to find new work under Volcker's plan, have withheld support, as have partners who have lost major clients and have little stake in a revived firm. That has resulted in a series of conflicting signals.
BUSINESS
March 28, 2002 | WALTER HAMILTON, TIMES STAFF WRITER
Leaders of Andersen's U.S. auditing practice have told former Federal Reserve Chairman Paul A. Volcker that they will accept his restructuring plan, potentially a key step in Andersen's scramble to keep at least some portion of the firm intact, sources said Wednesday. But with the company's troubles mounting, Andersen is expected to announce layoffs as early as next week, a source said. Separately, Andersen is in advancing talks to sell its U.S.
BUSINESS
March 29, 2002 | JEFF LEEDS, TIMES STAFF WRITER
Federal prosecutors asked a judge Thursday to let them continue questioning Andersen employees in front of a grand jury even after the accounting firm's indictment on an obstruction-of- justice charge. The move is a response to an Andersen claim that prosecutors are improperly using the grand jury to probe for evidence supporting a charge that already has been filed. Andersen, the former auditor of fallen energy giant Enron Corp., had asked U.S.
BUSINESS
December 12, 2001 | From Times Staff and Wire Reports
Shares of two leading energy companies fell Tuesday on fears that their businesses or accounting practices may mimic those of fallen Houston energy trader Enron Corp., which faces scrutiny today by two House panels. Calpine Corp. of San Jose declined $2.29, or 13%, to a two-year low of $15.50 in trading on the New York Stock Exchange. The stock fell for a second day after the leading independent U.S.
BUSINESS
April 9, 2002 | ERIC LICHTBLAU, TIMES STAFF WRITER
David B. Duncan, the former Andersen accounting executive who oversaw the auditing of Enron Corp., has reached a deal to plead guilty to obstruction of justice in connection with the shredding of documents and is expected to enter a formal plea today, a government official close to the case said Monday. Duncan's plea, once finalized, promises the Justice Department a critical boost in its efforts to develop possible fraud and conspiracy charges against Enron and its top executives.
NEWS
February 4, 2002 | RICHARD SIMON and ELIZABETH SHOGREN, TIMES STAFF WRITERS
Former Enron Chairman Kenneth L. Lay on Sunday abruptly canceled his much-anticipated appearance before Congress, contending he would not receive a fair hearing. Lay changed his mind about testifying before the Senate Commerce Committee today, after comments by congressional leaders on Sunday television news shows suggested that "judgments have been reached and the tenor of the hearing will be prosecutorial," said his attorney, Earl J. Silbert.
BUSINESS
April 23, 2002 | JERRY HIRSCH, TIMES STAFF WRITER
The accounting firm Arthur Andersen said Monday that it hired a restructuring expert, while former Federal Reserve Chairman Paul A. Volcker conceded that he has been unable to take charge of the firm and launch his rescue effort because of internal conflicts. Andersen hired Bryan Marsal as chief restructuring officer. He is a corporate reorganization specialist whose New York-based firm, Alvarez & Marsal, counts the bankrupt maker of Calvin Klein jeans among its clients.
BUSINESS
March 30, 2002 | THOMAS S. MULLIGAN, TIMES STAFF WRITER
Former Federal Reserve Chairman Paul A. Volcker said Friday that accounting firm Andersen, having accepted his reform proposal, planned to open talks with the Justice Department over dropping its indictment in the Enron Corp. case. But there was no indication that the Justice Department, incensed by Andersen's legal and public relations tactics, had any intention of backing off.
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