He tried and failed to save Andersen as an "audit-only" firm, but he might get his chance to decide the future for public accounting. It is reported that Paul Volcker is being actively considered for the chairperson's position on the new Public Company Accounting Oversight Board.

The SEC is expected to name the chairperson as well as the other four board members later this month. Two of the board members may be CPAs. It will be rather interesting to see how much influence the incoming chairperson has in selecting the other board members and who is named. Equally important is the make-up of the board. Will there be a CPA with auditing experience, someone representing investors, and someone from the business community?

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