No Negative Effects on Anderson China by Enron Case

Home>>Business

Last updated at: (Beijing Time) Monday, March 18, 2002

No Negative Effects on Anderson China by Enron Case

DISCUSSION

CHINESE

SEND TO FRIEND

No negative effects

Anderson China made an announcement March 16 on Arthur Andersen LLP getting involved in Enron case and sued by the U.S. Department of Justice that it's believed the Department would pass fair judgment on Arthur Andersen LLP and meanwhile senior personnel are all confident of the company's prospect.

Anderson China highlighted its company and Arthur Andersen LLP as two different and independent organizations. Anderson China, invested and managed by Anderson Hong Kong, is an entity enjoying independent corporate qualification. The case of the Arthur Andersen LLP is unable to produce direct effects on Anderson China.

Leading role in accounting sector

Currently Anderson China is actively negotiating with other international accounting firms for further development. The company is filled with confidence in proposing a satisfactory plan for solving the problem to people from all quarters, particular to the company's clients and working personnel, within a possible short period of time.

It's said Anderson China has made remarkable progress and established its leading role in China's accounting and consulting sector since it started to expand its business in the Mainland in 1979. It once set several records of No.1 by assisting some outstanding Chinese enterprises to attract investment in the world market. Its net value increased four times within five years.��

Arthur Andersen invoved in Enron case

A fired partner at the accounting firm of Arthur Andersen, once auditor for Enron Corp., refused on Wednesday to testify unless given immunity at a scheduled Congress hearing.

Robert Giuffra, a lawyer for the auditor, David Duncan, told the House Energy and Commerce Committee by letter that "he will rely on his constitutional right not to testify" unless he is given immunity by the panel.

The committee served a subpoena Wednesday on Duncan requesting him to testify at a hearing on Thursday. Andersen attorney Nancy Temple and risk manager Michael Odom also received subpoenas for the same purpose.>>details

by PD Online Staff Yang Ruoqian

Questions?Comments? Click here

Roundup: U.S. Enron Scandal Expands With Death of Former Executive

Enron's Chairman and CEO, Kenneth L. Lay, Resigns

Fired Enron Auditor Refuses to Testify at U.S. Congress Hearing