October 8, 2002
Biggs No Longer PCAOB Candidate
Chairman Pitt is still under fire – he now has had to retreat from any intimation that TIAA-CREF Chair John Biggs would be the new head of the Public Company Accounting Oversight Board (due to objections from Republicans led by Rep. Oxley) – and he has been chastised by Democrats for meeting with the Goldman Sachs Chairman last week, just before Goldman Sachs was implicated in the allocated IPO investigation. This was before the Congressional report released Saturday that criticized the SEC’s role in Enron (see http://www.senate.gov/~gov_affairs/100702watchdogsreport.pdf).
See the related Washington Post articles at http://www.washingtonpost.com/wp-dyn/articles/A51753-2002Oct6.html and http://www.washingtonpost.com/wp-dyn/articles/A45259-2002Oct4.html.