Chicago (Feb. 4, 2002) - Former Federal Reserve chairman Paul Volcker will head a three-member oversight panel to work with embattled Big Five firm Andersen in an effort to enact across the board changes and restore credibility back to the firm.
Feb. 4, 9:30 a.m. EST — Senate Commerce Committee. Chairman: South Carolina Democratic Sen. Ernest Hollings. Witnesses: Enron Chairman Kenneth Lay has agreed to testify.
Feb. 4, 2:00 p.m. EST — House Financial Services Committee subcommittee on capital markets. Chairman: Louisiana Republican Richard Baker. Witnesses include Lay, Andersen CEO Joseph Berardino, SEC Chairman Harvey Pitt. Focus on impact on commodities markets, 401(k) plans, potential securities fraud and accounting irregularities.
Feb. 5, 10:00 a.m. EST — Continuation of House Financial Services Committee hearing.
Feb. 5, 10:00 a.m. EST — House Energy and Commerce subcommittee on oversight and investigations. Chairman: Pennsylvania Republican James Greenwood. Witness: William Powers, chairman of Enron's special investigative committee. Focus on the findings of Enron's special investigative committee concerning certain transactions between the company and current and former officers and employees.
Feb. 6, 12:30 p.m. EST — House Energy and Commerce Committee. Witness list to be determined. Chairman: Louisiana Republican Rep. Billy Tauzin.
Feb. 7, 10:00 a.m. EST — Senate Health, Education, Labor and Pensions Committee. Chairman: Massachusetts Democratic Sen. Edward Kennedy. Witness list undetermined. Focus on pension law, 401(k) retirement plans and how to better protect investors.
Feb. 12, 10:00 a.m. — Senate Banking, Housing and Urban Affairs Committee. Chairman: Maryland Democratic Sen. Paul Sarbanes. Witnesses include five former SEC chairmen: Arthur Levitt, Richard Breeden, David Ruder, Harold Williams and Roderick Hills. Focus on accounting and investor protection issues related to Enron.
Feb. 26, 10:00 a.m. — Senate Banking, Housing and Urban Affairs Committee. Chairman: Sarbanes. Witnesses include three former SEC chief accountants: Walter Schuetze, Michael Sutton and Lynn Turner; and former Financial Accounting Standards Board chairman Dennis Beresford. Focus on accounting and investor protection issues.
In addition, several other congressional panels are probing the Enron affair, but have not firmly established dates for public hearings.
Senate Finance Committee: Investigating Enron compliance with tax laws. Senate Governmental Affairs Committee's Permanent Subcommittee on Investigations: Investigating ties between Enron and Andersen. Has issued 51 document subpoenas.
— Electronic Accountant Newswire staff
