Arthur Andersen stops auditing companies whose shares are quoted at stock exchange

/Daily electronic paper "UTRO", June 17, 02/ - Auditing company Arthur Andersen officially informed the US stock exchanges commission (SEC) about stoppage auditing the companies whose shares are quoted at stock exchange, wrote El Pais. The decision, equivalent to confession about full crash of the company, was made after circuit court of Texas city Houston considered Arthur Andersen guilty in preventing the justice. The Arthur Andersen attorney Rusty Hardin for nothing tried to persuade the court that it is not the auditing company but a concrete man who should be responsible for destroying the accounting of Enron. It is notable that jury did not come to a common opinion about who exactly accounts to the order about documents liquidation. Anyway, Arthur Andersen decided not to wait the further development of events and informed SEC by itself about stoppage from August 31, 2002 rendering auditing services for the companies quoting at stock exchange. Thus, to 89-year history of the biggest US auditing company will be put an end. We are reminding that prohibition for auditing companies whose shares are quoted at stock exchange is one of the sanctions, which SEC can apply to Arthur Andersen on the base of the court decision during pronouncing the sentence on this case on October 11, 2002. [2002-06-17]