Accountants and firms charged with Sarbanes Oxley violations

The SEC charged 69 accounting firms and accountants with violating the 2002 anti-trust law. According to the New York Times, the accused firms allegedly audited public companies without registering the board that oversaw the accounting industry.

The Times reports that none of the major firms, or the BIG Four were involved.  These charges are rocking the accounting world (even if it doesn't involve any of the major players in the accounting world), because this is the first time that the SEC has charged any firm or partner in violation of the 2002 law, a law that states that all accounting firms that audit public accounts and companies must register with the Public Company Accounting Oversight Board.

For more:
- read this New York Times article

Related articles:
Sarbanes Oxley Act of 2002
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What's going on at the SEC?