Washington (Jan. 7, 2003) -- Three former Securities and Exchange Commission chief accountants penned a strongly-worded letter to the new public accounting oversight board that urges the board to crack down on the profession, and establish auditing standards itself.

In a three-page letter dated Dec. 31, 2002, a copy of which was provided to the Electronic Accountant, the former SEC chiefs claim auditor independence has become dangerously suspect, and that the profession has blithely dismissed a series of scandals as aberrations that did not warrant any fundamental change.

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