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POB to Take Active Role in Andersen Peer Review

WASHINGTON -- In the wake of the Enron scandal, the Public Oversight Board (POB) has decided to take an active role in the expanded peer review that Deloitte & Touche is providing to Andersen, AccountingWEB reported today.

The POB is the group that, among other tasks, oversees the peer review process required of all public accounting firms that audit publicly held companies.

Andersen announced last week it has requested the expanded review as a result of the recent news of Enron's misstated financial statements.

"We're looking at the systems and specific areas affected by the Enron type of business," POB Chairman Charles Bowsher said.

It is not unusual for the Public Oversight Board to have one or two staff members monitor the Big Five peer reviews. In this case, however the group will send three or four accountants to work alongside Deloitte & Touche in the Andersen review.

-- NYSSCPA.org News Staff