But since then, the SEC and some of the nation's biggest accounting firms have locked horns over the potential conflicts of interest that have arisen as revenue from consulting has dramatically run ahead of audit fees for the nation's biggest accounting firms. To the SEC, the desire of accounting firms to keep the consulting fees flowing threatens auditor independence by possibly prompting the accountants to overlook worrisome and too-aggressive bookkeeping practices. In June, the SEC proposed rules to significantly limit consulting services that auditors can offer corporate clients
As you can see there has been controversy over many big accounting firms practice of offering auditing and consulting services. The WSJ article you posted focuses on Arthur Andersen. Like I stated before Arthur Andersen will have egg all over its face and probably the other "Big 5" accounting firms also.
IMHO, you decided to make a simplistic attempt to smear Ashcroft, for a very complex problem(Big accounting firms offering both consulting and auditing services).
It says: "A group of former government leaders tapped to review FBI security policies will meet for the first time next month, according to a notice published in the Federal Register Tuesday.
Earlier this month, Attorney General John Ashcroft authorized the creation of a commission to study security policies for sensitive and classified information at the FBI.
"Members of the commission include: William S. Cohen, Secretary of Defense in the Clinton administration; former Speaker of the House Thomas S. Foley, D-Wash.; and Carla Hills, Secretary of Housing and Urban Development in the Ford administration."
William Cohen? That's a joke.
Thomas Foley? Hahahahahahahahaha!!!! Yep, he's the guy we need.
Remember, we're talking SECURITY here!
Former Speakers Caught With Booty
Insight Magazine
By Paul M. Rodriguez
September 11, 1998
Nervous House GOP leaders confront retired Democratic speakers concerning disappeared historical treasures. Rostenkowski precedent raises legal and ethical issues. Methodically but quietly during recent months, investigators for the House of Representatives have been tracking down priceless treasures and lesser baubles that have been taken from Capitol Hill by former speakers, including Thomas Foley, the current U.S. ambassador to Japan.
The missing items range from the marble balustrades that once stood sentinel in the well of the House to handmade chandeliers and historically precious antique clocks, rugs, furniture, crystal and silverware.
"It is quite amazing the range of things taken," says one of several sources in the House and a Cabinet-level department who are familiar with the search. "In some cases we're talking about literally stripping the walls of fixtures," says a second source. Members of both parties, the sources spoke to Insight on condition of anonymity.
The second source says the quiet recovery mission was launched early this year after Boston College contacted the House about the historical significance of an antique grandfather clock and other items "donated" by the family of former speaker Thomas P. "Tip" O'Neill, the Massachusetts Democrat who retired in 1986.
As a result of that call a highly sensitive probe was launched by the House Republican leadership and the House Oversight Committee, led by GOP Rep. Bill Thomas of California. What the probers found, congressional and other sources say, confirmed the worst rumors about what former speakers had carted away as "spoils of war."
Because of the criminal conviction of former Rep. Dan Rostenkowski of Illinois, the once-powerful chairman of the House Ways and Means Committee, House leaders worried about opening up a can of legal worms by probing too deeply for the missing booty lest it lead to widespread prosecutions of former committee chairmen and other panjandrums.
Insight's sources say that after hush-hush debate a decision was made to limit any review to just the former speakers because they were covered by rules adopted in 1994 that sunset speakers' perks, including the use of "borrowed" congressional equipment. A separate rule dating back to 1972 had allowed speakers to take equipment and furniture for their retirement offices, but only until those offices were closed, presumably at death. Under the new rule the date for returning borrowed items was set at five years -- sooner if, like Foley, a former speaker took another government job.
Once the call came in from Boston College, House leaders and investigators quickly realized they had little or no accounting of what former speakers had taken with them. After scouring the country for the missing treasures, what they found was even more astonishing than the scuttlebutt.
In the case of former speaker Sam Rayburn, the investigators discovered the Texas Democrat had taken the hand-carved marble balustrades from the well of the House, assorted marble fireplace mantels, antique mirrors, wall sconces and an ornate chandelier bought by Ulysses S. Grant and hung at the White House for decades before being moved to a ceremonial office in the House. O'Neill had taken an antique grandfather clock, handsome furniture and the chair used by seven consecutive speakers, including himself. After being pressed, former speaker James Wright led investigators to treasures he had taken after resigning in June 1989 following a massive ethics probe that charged him with serious wrongdoing. The missing items, mostly furniture, were secreted in a warehouse at Texas Christian University. What Wright or other former speakers may have stashed at their personal residences has not been determined.
But it is the boodle secreted by Foley that has raised the most eyebrows and, in turn, concerns about potential prosecution, according to sources on Capitol Hill and at the State Department. "The sheer volume of what was found" in a warehouse at Washington State University "was mind-boggling," said a source. "We're not talking just a few pieces of furniture, like a desk and some chairs to furnish an office. We're talking big pieces, like huge antique wall units with historical importance to the House."
A source in the House leadership says it's understandable that older speakers may have taken liberties in removing House property given the plantationlike mentality that once existed on Capitol Hill. But not Foley, on whose watch so many major ethics scandals and reforms occurred prior to his ouster from office in 1994 as part of the Republican sweep.
"It's bothersome, this Foley issue," admitted a senior Democrat. "It's not like he didn't know the rules.... What you're telling me was found in some warehouse just doesn't make sense. How do you justify antiques and multiples of furniture that wouldn't fit into even a suite of offices? It sounds like what Rosty did," the member said, referring to Rostenkowski.
A House legal expert added: "Once [Foley] became ambassador he gave up any perks he had as speaker and should have returned everything to the House." When asked if that occurred, the expert said it hadn't. Asked if Foley had informed the House of either the quantity or quality of goods he had taken with him, another House official said: "We never had a clue he had taken so many valuables until this came up after the O'Neill deal."
Attempts to reach Foley and Wright were unsuccessful by publication time. An aide to Speaker Newt Gingrich said the Georgia Republican was aware of the matter and of the potential legal issues.
Come on Dane, you know I'm right. Admit it.