Archives
_________::::____#124 - February 22, 2006________________
#124 Updated:  2/21/06 5:09 p.m.

02/21/06 Enron's Lay lied about cash problems: witness
Former Enron Corp. CEO Ken Lay lied about the company's precarious financial
health in its final weeks even after learning it had no access to new sources of
cash, a former Enron executive testified on Tuesday.

02/21/06 British Bankers May Be Extradited to U.S.
Three British bankers may be extradited to the United States to face
Enron-related fraud charges, the High Court ruled Tuesday in a judgment marking
the first test case of controversial laws introduced to speed up the transfer of
suspected terrorists.

02/21/06 Power to the Auditor
Securities and Exchange Commission Chairman Christopher Cox spoke at the
AICPA National Conference on Current SEC and PCAOB* Developments on Dec. 5,
2005. His speech dwelt on two topics: making financial reporting less complex and
encouraging greater competition in the auditing market.

02/21/06 Reporting for Separation of Duties, Sir!
To help ensure that current and former employees can't wreak havoc with finance
and IT systems, ''companies need to prove to auditors that only the right people
have the right access.''

02/20/06 SEC: KPMG Auditors Ignored 'Red Flags
The Securities and Exchange Commission accused two KPMG auditors who had
overseen the audit of Royal Ahold NV's U.S. Foodservice unit of failing to act upon
numerous "red flags" amid the unit's estimated $30 billion accounting fraud.

02/20/06 Effort to roll back Sarbanes-Oxley gains strength
A Securities and Exchange Commission advisory panel is expected to move
forward Tuesday in urging the agency to drop a key part of the Sarbanes-Oxley
corporate reform law to ease the reporting burden for small companies.
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