A couple of days after the Andersen guilty verdict was returned, the Senate Banking Committee basically said "enough of this crap" and approved, arguably, the strongest measures on accounting reform thus far submitted by lawmakers.
The measure, which was approved by a 17-4 margin in committee, would prohibit accounting firms from selling a variety of consulting services to audit clients, create a regulatory board composed of people outside the accounting industry, and limit the time a firm partner could review the books on a particular company.
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