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U.S., Coopers & Lybrand Settle S&L; Case:...

From Times Staff and Wire Reports

U.S., Coopers & Lybrand Settle S&L; Case: The “Big Six” accounting firm and federal regulators settled charges that the firm understated the amount of loan losses by Silverado Banking Savings & Loan Assn., a Denver thrift that later collapsed. Coopers & Lybrand, the only accounting firm to be charged by the Office of Thrift Supervision, agreed to meet several requirements in its auditing procedures and accepted an order against further violations, the agency said. The firm neither admitted nor denied any wrongdoing.


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