Professor William Black:

We made criminal referrals against the major audit firms including Arthur Andersen - which no longer exists and so can be named here - for far more egregious things than what it did at Enron. That was a bridge too far for the justice Department but we did get over $1 billion in recoveries, in a much smaller crisis, from the big eight firms. We also removed and prohibited particular audit partners and kept them from doing things in the future.