SEC Alleges Deloitte Auditors Aided in Adelphia Fraud

Law360 (October 3, 2005, 12:00 AM EDT) -- The Securities and Exchange Commission has initiated administrative proceedings against two Deloitte & Touche auditors who allegedly aided in the Adelphia accounting fraud in 2000.

The SEC filed a complaint Friday against Gregory Dearlove and William Caswell, the two auditors in charge of the 2000 Adelphia Communications audit.

Caswell settled with the SEC, agreeing not to audit a public company for two years.

Administrative action will continue against Dearlove, who, according to the SEC, signed an audit report that failed to accurately represent the company’s finances....
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