Saturday, March 2, 2002

Merck axes Andersen Merck axed Andersen as its auditor, dealing the firm a severe blow in its efforts to survive the Enron scandal. The US pharmaceuticals giant, Andersen's biggest audit client by sales, said PwC, another "Big Five" firm, would audit its books this year, subject to a shareholder vote. [Financial Times] ...the price of stupidity. The cost of dipping in both troughs. Andersen can spin the 'rogue auditor' story all it want, but it isn't going to fly. In College sports it wouldbe call "Loss Of Institutional Control." See ya later...mj 9:17:37 AM

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