Auditors under fire: Andersen testimony raises questions in wake of Enron debacle

Accounting Today,  January, 2002  by Ken Rankin

Tags: Enron Corp.

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WASHINGTON -- Andersen chief executive Joseph F. Berardino assured Congress that his firm will not sidestep responsibility for mistakes that it made during the audits of Enron -- the Houston-based energy giant whose abrupt collapse last month sent shockwaves through Wall Street, Washington and the accounting profession.

Testifying at what was the first in a series of House and Senate hearings into Enron's multi-billion dollar meltdown, Berardino called the collapse of his firm's long-time audit client "a tragedy on many levels." Andersen "will not hide from its responsibilities" in this matter, he said.

"If my firm has ...