United States DC Circuit
Grant Thornton, LLP v. Office of the Comptroller of the Currency, 07-1003
Orders requiring petitioner to pay six-figure civil penalties for recklessly failing to meet Generally Accepted Auditing Standards and to comply with a host of conditions whenever it audits depository institutions are vacated, as an accounting firm that merely performs an external audit aimed solely at verifying the accuracy of a bank's books is not participating or engaging in an unsafe or unsound practice in conducting the business or the affairs of the bank, as those terms are used in 12 U.S.C. sections 1813(u)(4)(C), 1818(b)(1), and 1818(i)(2)(B)(i)(II).
Appellate Information
- Argued 11/08/2007
- Decided 02/08/2008
- Published 02/08/2008
Judges
- Before: HENDERSON and TATEL, Circuit Judges, and WILLIAMS, Senior Circuit Judge.
Court
- United States DC Circuit
Counsel
- For Appellant:
- Stanley J. Parzen argued the cause for petitioner. With him on the briefs were Mark W. Ryan, Andrew J. Morris, and Miriam R. Nemetz.
- For Appellees:
- Jerome A. Madden, Counsel, U.S. Department of Treasury, argued the cause for respondent. With him on the brief was Horace G. Sneed, Director of Litigation.