Treasury: New Committee For Accounting Industry

Law360, New York (May 18, 2007, 12:00 AM EDT) -- The U.S. Department of the Treasury has created a committee charged with taking an in-depth look at some of the problems that plague the accounting industry and recommending solutions.

The committee, announced Thursday by U.S. Treasury Secretary Henry Paulson, will be chaired by former Securities Exchange Commission Chairman Arthur Levitt and former SEC Chief Accountant Donald Nicolaisen.

The bi-partisan group will examine the accounting industry in an effort to “address auditing industry concentration, and to consider options available to strengthen the industry's financial soundness and its...
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