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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Jim Willie CB who wrote (46447)1/15/2002 2:15:23 PM
From: stockman_scott  Read Replies (1) of 65232
 
Enron's Lead Auditor to Be Dismissed

Tuesday January 15, 1:40 pm Eastern Time

CHICAGO (Reuters) - Andersen, the accounting firm under fire for its handling of collapsed energy trader Enron Corp.'s (NYSE:ENE - news) books, on Tuesday said it would dismiss the lead partner involved in the Enron audit.

Andersen, which last week revealed that staff associated with the audit had destroyed a large number of documents in the case, also said three other partners responsible for the Enron engagement had been placed on leave.

``Although the firm is still working to collect all the facts, it has learned that at the direction of the lead partner an expedited effort to destroy documents in Houston was undertaken,'' Andersen said in a statement. ``The effort was initiated following an urgent meeting the lead partner called on Oct. 23 to organize the expedited effort to dispose of Enron-related documents.''

This meeting occurred shortly after the lead partner learned that Enron had received a request for information from the SEC about its financial accounting and reporting, Andersen said.
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