Financial Accounting Blog

Monday, August 18, 2003 SEC Bars PricewaterhouseCoopers Partner
...Regulators said they barred the former outside auditor of Tyco International (TYC), saying he was "reckless." The Securities and Exchange Commission also said Richard Scalzo failed to act despite clear indications that the company's former senior management lacked integrity. Scalzo, a PricewaterhouseCoopers partner, is barred from ever again preparing financial statements of publicly traded companies. Such a punishment is considered rare. Scalzo did not admit or deny the SEC's findings.