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Texas Board Seeks Disciplinary Action Against Seven Accountants Involved in Enron Case

FOR IMMEDIATE RELEASE November 3, 2005

AUSTIN--The Texas State Board of Public Accountancy has filed a complaint with the State Office of Administrative Hearings for disciplinary action against seven Certified Public Accountants. The seven CPAs, as partners and as employees of Arthur Andersen, LLP, were involved in conducting audits for ENRON and its subsidiaries before the company's collapse in 2002. Those named in the complaint are Thomas Bauer, Carl Bass, Patricia Grutzmacher, James Brown, Jr., Jennifer Stevenson, Derek B. Claybrook, and Andrew Schuleman.

The Texas Board is mandated by statute to protect the public by ensuring that CPAs adhere to the highest standards of professional conduct. It is also charged with determining if grounds exist for disciplinary action. Such action may include revocation, suspension, or non-renewal of a license, or probation or reprimand for the license holder.

The latest filings follow earlier action by the Texas Board, which revoked the firm license of Arthur Andersen, LLP, in August 2002.

A copy of theBoard's revised complaint may be found on the TSBPA website.

Contact: William Treacy
Executive Director
(512) 305-7801