Auditors Get Slaps On Wrists Over NCFE

Law360, New York (September 20, 2007, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission on Wednesday reentered the fray over the alleged fraud that toppled National Century Financial Enterprises Inc. into bankruptcy, scolding three former higher-ups at Deloitte & Touche LLP and PricewaterhouseCoopers LLP whose allegedly faulty audits it said let red flags go unnoticed.

The SEC opened its investigation Wednesday into former Deloitte partner Robert Harbrecht and manager Brian Spires, who audited the bankrupt health care financier in 2000, and into former Pricewaterhouse partner Press Southworth, who audited it in 1998, saying the...
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