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RAIN 01/21: Andersen update Part 1



Due to the large number of stories about Arthur Andersen and the records shredding at Enron I have put them all together into several postings. There are 11 in this posting.

New York Times 01/14/02
Andersen says lawyer let its staff destroy files
http://www.nytimes.com/2002/01/14/business/14TRAI.html?ex=1012022590&ei=1&en=a2d64375e94ef97f

by Richard A. Oppel, Jr.
An internal lawyer at Arthur Andersen gave employees who worked on its Enron (news/quote) account permission on Oct. 12 to destroy thousands of documents and records having to do with that work, according to investigators for the House Energy and Commerce Committee, one of several Congressional panels investigating Enron's collapse.



Bloomberg 01/14/02
Enron investors seek court order protecting electronic records
http://quote.bloomberg.com/fgcgi.cgi?ptitle=Securities%20Firms%20News&b1=ad_bottom1&br=blk&tp=ad_topright&T=wealthstory.ht&s=APELkLRc5RW5yb24g

by Jeff Feeley
Houston, Jan. 14 (Bloomberg) -- Enron Corp. shareholders asked a federal judge to prevent auditor Arthur Andersen LLP from destroying electronic records concerning the bankrupt energy trader while investors press insider-trading lawsuits.


New York Times 01/14/02
Enron document destruction examined
http://www.nytimes.com/aponline/business/AP-Enron-Collapse.html?ex=1012022647&ei=1&en=3c02b0e4ca3ab389

AP
WASHINGTON (AP) -- The timing of an accounting firm's memo directing the destruction of documents raises the serious possibility of obstruction of justice, says the chairman of a Senate committee investigating Enron Corp. (news/quote)'s collapse.


Wall Street Journal 01/14/02
Companies should have strict policies about document purging, experts say.
http://interactive.wsj.com/articles/SB1010963409461195760.htm

by Michael Orey
The revelations by Arthur Andersen LLP last week that it had destroyed documents relating to its work for Enron Corp. highlight a critical question for companies: just what must you keep, and for how long?
Clearly businesses can't keep everything; space limitations and storage costs make that prohibitive. What's key, say lawyers who advise businesses on such matters, is to have a defined policy on what is preserved and what gets purged.



Wall Street Journal 01/14/02
Congressional panel probes Enron Audit; Andersen memo is at center of inquiry
http://interactive.wsj.com/articles/SB1010963202496104960.htm

by Michael Schroeder and Tom Hamburger
WASHINGTON -- A House committee is seeking information about an Oct. 12 memo from Arthur Andersen LLP management, which committee aides believe advised the firm's Enron Corp. audit team to abide by an Andersen policy to destroy electronic and paper documents relating to audits.



Arthur Andersen 01/14/02
Statement
http://www.andersen.com/website.nsf/content/MediaCenterNewsReleaseArchiveAndersenStatement011402!OpenDocument

As the firm has repeatedly stated, Andersen is committed to getting the facts, and taking appropriate actions in the Enron matter. We are moving as quickly as possible to determine all the facts.



Chicago Sun Times 01/15/02
Andersen execs asked for clarification
http://www.suntimes.com/output/business/cst-fin-ander15.html

by Sandra Guy
Arthur Andersen executives handling the Enron audits in early October asked for clarification of Andersen's record-destruction policy before getting rid of thousands of Enron files, a spokesman for a House committee investigating Enron's collapse said Monday.



Washington Post 01/15/02
Andersen fires lead Enron auditor
http://www.washingtonpost.com/wp-dyn/articles/A50421-2002Jan15.html

by Peter Behr
Arthur Andersen said today that its employees in Houston destroyed thousands of e-mail messages and numerous documents related to its audits of Enron Corp. in a hurried purge that began after the firm's lead Enron auditor learned of a Securities and Exchange Commission inquiry into the energy company's finances in October.



Associated Press 01/15/02
Andersen fires lead Enron auditor
http://dailynews.yahoo.com/htx/ap/20020115/bs/enron_auditor_4.html

by Marcy Gordohn
AP Business Writer
WASHINGTON (AP) - Accounting firm Arthur Andersen LLP said Tuesday it is firing the lead auditor of collapsed Enron Corp. and is putting three other auditors on leave as part of its inquiry into the destruction of Enron-related documents.



AP 01/15/02
Andersen LLP firing Enron Auditor
http://dailynews.yahoo.com/htx/ap/20020115/bs/enron_auditor_12.html

by Marcy Gordon
WASHINGTON (AP) - Arthur Andersen LLP said Tuesday it is firing a senior auditor who organized a ``rushed disposal'' of Enron documents last fall after federal regulators had requested information about the failing energy company.



Reuters 01/15/02
Andersen: Partner destroyed Enron files
http://dailynews.yahoo.com/htx/nm/20020115/bs/enron_dc_16.html

by Leslie Adler
NEW YORK (Reuters) - The growing scandal over the collapse of Enron Corp. deepened on Tuesday, with accounting firm Andersen saying its lead partner for auditing the energy trader had ordered documents destroyed after learning federal regulators wanted to see them.


Peter A. Kurilecz CRM, CA
pakurilecz@aol.com
Richmond, Va