Boss of shamed Andersen quits
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.The chief executive of the beleaguered accounting group Arthur Andersen, Joseph Berardino, resigned last night in what appeared a last attempt to save the company by persuading the US Justice Department to withdraw the criminal indictment against it.
Internal links
Mr Berardino's announcement came four days after the former Federal Reserve chairman Paul Volcker urged top management to step down. Mr Volcker proposed that a new independent board, under him, could lead a revamped Andersen out of the disgrace caused by its role in the collapse of the Enron energy group in December. Earlier this month, after all efforts to reach a plea bargain failed, the federal government unsealed a one-count indictment against Andersen for obstruction of justice, arising from its shredding of documents relating to Enron.
Andersen has denounced the indictment as a gross abuse of government power and says it will plead not guilty. A trial is due to begin in Houston, Enron's home town, on 6 May.
Mr Berardino, who has been with Andersen since 1972, said last night: "I felt I had to take this step to put an exclamation point behind the voices of our people. We are a serious firm that deserves to continue."
Andersen says top management knew nothing of what was happening at Enron, and that wrongdoing was limited to a small group of employees in Houston.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments