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Non-Tech : The Enron Scandal - Unmoderated
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To: jlallen who wrote (152)1/15/2002 11:33:13 AM
From: stockman_scott   of 3602
 
Andersen's Policy Was To Destroy Audit Papers

Tuesday, January 15, 2002; Page A10
The Washington Post

At the Arthur Andersen accounting firm, destroying records related to the company's audit work was a matter of policy.

Statements released by the firm yesterday said that "only essential information" should be kept and called for early drafts of documents to be "destroyed currently." As a general rule, Andersen policy said auditors' working papers should be kept for six years.

Andersen made the release in response to news reports that a company lawyer had directed its employees to destroy all Enron Corp. audit documents except the most basic work papers. Andersen, which has acknowledged destroying Enron records, released an e-mail message sent Oct. 12, four days before Enron made the surprise announcement that it was losing money. The message, from lawyer Nancy Temple, said that it "might be useful to consider reminding the engagement team" of the policy. "It will be helpful to make sure that we have complied with the policy," the message continued.

Andersen said Temple says she never told the audit team to destroy records of past audits.

Deletion of electronic records was supposed to be done "in such a way that precludes the possibility of subsequent retrieval," the policy said. Andersen has said it retrieved some of the Enron records that were deleted.

-- David S. Hilzenrath

© 2002 The Washington Post Company
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