Many eyes are on the Securities and Exchange Commission.

Several members of Congress have already suggested that SEC Chairman Harvey Pitt recuse himself because of his long history as a lawyer and advocate for the accounting profession. And President Bush's two nominees to the SEC, both from accounting firms, are expected to face tougher questioning in Senate confirmation hearings.

The SEC would not comment on whether Pitt will separate himself from the probe into the collapse of Enron and the role of its auditor, Arthur Andersen. But SEC rules require him to recuse himself from taking action on a former client for one year.

Pitt, a former attorney for the firm of Fried Frank Harris Shriver & Jacobson, represented all of the top accounting firms as well as their lobbying group, the American Institute of Certified Public Accountants. He also argued against plans by his predecessor, former SEC chairman Arthur Levitt, to make accounting firms more independent.

''It was a huge issue, and he was one of the most important figures in the whole debate,'' says James Doty, a lawyer at Baker Botts and a former general counsel for the SEC.

And while Pitt knows the accounting industry inside out and is extremely knowledgeable about the issues, Doty says, ''His own sense of political survival and political survival of the agency may lead him to recuse.''

The five-seat SEC has four vacancies, including a seat held by Laura Unger, whose term expired last year. Bush has nominated Paul Atkins, a partner at PricewaterhouseCoopers, and Cynthia Glassman, an economist and principal at Ernst & Young.

Asked whether Bush was reconsidering his choices in light of the Enron collapse, White House spokesman Ari Fleischer said, ''He is not; no reason to do so.''

Glassman declined to discuss the Senate confirmation hearings, which are at least a couple of months away, but added, ''I'm really honored to have been nominated. I hope the Senate sees fit to confirm me.''

A call to Atkins was not returned.