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The article reports that court documents in a lawsuit filed against Wachovia bank show that the bank had long been aware of claims of fraud made against telemarketers who had accounts with the bank, and had in fact actively solicited their business. The lawsuit was filed against Wachovia by victims of those telemarketers. The documents also show that Wachovia was warned of the frauds by other banks and federal regulators.

Investors eagerly looking for the ''green shoots'' of a recovery lapped up the news when Prudential Financial announced this month that it was profitable again, after six months of big losses. The insurer's stock jumped nearly 30 percent in the two days after its earnings report. What was largely overlooked: the first-quarter profit came solely from accounting. [ABSTRACT FROM PUBLISHER]

Discusses the hearing before a United States House subcommittee into the collapse of Enron Corporation, including evidence that the company's auditors, Arthur Andersen, destroyed documents knowing they might be relevant to investigations. Refusal of David B. Duncan, an Andersen partner, to testify; Mounting impact on Washington of Enron's fall and how Enron's fortunes have intersected with politics; Comments of Arthur Levitt, former chairman of the Securities and Exchange Commission, and others.

A new paper by an advisory firm that works with major corporations argues that companies would achieve more social good by simply focusing on the bottom line rather than social responsibility programs, double- and triple-bottom-line accounting and hybrid structures that have nonprofit and for-profit arms. ''Using a single bottom line allows companies to create social benefits in the most efficient way while continuing to maximize profits,'' said Daniel Altman, a consultant at the firm, Dalberg Global Development Advisors. [ABSTRACT FROM AUTHOR]

Reports on investor concerns over Bermuda-based Tyco International after the company lost access to the commercial paper market and two debt rating agencies lowered their ratings on Tyco's bonds. Drop in Tyco's stock; Concerns that the company uses aggressive accounting practices to inflate its growth rate and profits; Tyco's rising debt; Strategy of Tyco's chairman, L. Dennis Kozlowski; Outlook for the company.

Reports that the audit of the Brooklyn Office of the City Register had turned up 97 boxes of unprocessed papers, including uncashed checks. How the audit called the unprocessed checks; Results of the audit; Remarks from Nick Paolucci, a spokesman for city Comptroller Alan G. Hevesi; Other errors found by the audit.