Open Meeting Agenda
|Item 1:||Gregory M. Dearlove|
Office: Office of the General Counsel
Staff: Joan A. McCarthy, Diane V. White, Bari S. Podell, Jodie J.D. Turcotte
The Commission will hear oral argument in an appeal by Gregory M. Dearlove, CPA, from the decision of an administrative law judge. The law judge found that the financial statements of Adelphia Communications Corporation, a public company, for the period ending December 31, 2000 violated generally accepted accounting principles in several respects. The law judge also found that Dearlove, a certified public accountant and former partner at Deloitte and Touche, LLP, engaged in improper professional conduct under Commission Rule of Practice 102(e) when he served as the engagement partner on Deloitte's audit of Adelphia's 2000 financial statements. The law judge also found that Dearlove caused Adelphia's violations of the reporting and recordkeeping provisions of the Securities Exchange Act of 1934, specifically, Exchange Act Section 13(a) and rules 13a-1 and 12b-20 thereunder, and Exchange Act Section 13(b)(2)(A). The law judge barred Dearlove from appearing or practicing before the Commission in any capacity.
Among the issues likely to be argued are whether Dearlove's conduct during the audit constituted improper professional conduct, whether Dearlove caused Adelphia's violations of the Exchange Act and rules thereunder, and whether there is merit to Dearlove's contention that he was deprived of due process because he did not have adequate time to prepare for the hearing before the law judge. The parties may also address whether and to what extent Dearlove should be sanctioned if he is found to have committed the alleged violations.
For further information, please contact the Office of the Secretary at (202) 551-5400.
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