Back in the Stone Age when I was at the SEC's Division of Enforcement, the Division filed a May 1998 administrative proceeding against Jeffrey M. Steinberg and John Geron, two then-audit partners of Arthur Andersen, for allegedly "causing" a company called Spectrum Information Technologies to improperly account for certain transactions.  According to the Division of Enforcement, the two caused these violations by concurring with Spectrum's improper accounting treatment for the first and second quarters of 1993 (yes, 1993) when they knew or should have known that the accounting was improper and that Spectrum would use their concurrence to justify the improper accounting.

Over three years later, in December 2001, an ALJ ruled in this Initial Decision that the Division of Enforcement had "failed to prove that Respondents caused Spectrum's violations of Section 13(a) of the Exchange Act and Rules 13a-13 and 12b-20 thereunder. Accordingly, the [case] must be dismissed."

According to this article by WebCPA, the Initial Decision was then subject to review by the Commission, and the Division of Enforcement argued again in September 2003 that "that the Andersen auditors helped their client, Spectrum Information Technologies Inc., manipulate its accounting through improper revenue recognition of $10 million in 1993."

Fast forward to July 2005:  After nearly two years of "deliberation," less than a week after Chairman Donaldson departed the Commission, the case against these two was finally dismissed.  On July 6, 2005, the SEC issued this Order stating that:

The Commission is evenly divided as to whether the allegations in the Order Instituting Proceedings in this matter have been established. Accordingly, it is ORDERED that the proceeding instituted against Jeffrey Steinberg and John Geron be, and it hereby is, dismissed.

By the Commission (Acting Chairman GLASSMAN and Commissioner ATKINS for dismissal; Commissioners GOLDSCHMID and CAMPOS against dismissal).

A footnote to the Order adds that "Former Chairman William F. Donaldson resigned on June 30, 2005. Prior to his resignation, he did not participate in this matter." 

I'm not sure what this means--if Donaldson had not participated prior to his resignation, the Commission was presumably deadlocked 2-2 for nearly two years.  His departure from the SEC, however, apparently resulted in a prompt dismissal of this case based on that same 2-2 split.

In any event, over a decade of wrangling with the SEC is now over for the two audit partners.  Of course, in the meantime, their firm was convicted of obstruction of justice (which was later reversed on appeal) and driven out of business (not reversed).