PracticeAccounting FirmsAndersen resigns Wessex Water audit

Andersen resigns Wessex Water audit

Disintegrating firm Andersen has resigned as auditor of Wessex Water, the water company put up for sale by collapsed US energy company Enron.

The firm has also resigned as auditor for Azurix, a holding company set up by Enron to buy global water assets such as Wessex.

Andersen excluding the US partnership – is seeking to merge with KPMG, however the Hong Kong and China offices have defected to PwC, while the New Zealand and Russia has joined Ernst & Young.

The resignation from Wessex takes effect immediately, and follows orders made by global partners from Andersen Worldwide last month.

Andersen was unable to comment on the move but the decision is linked to Enron filing for Chapter 11 bankrupcy. The firm was appointed auditors of Wessex in 1998, when it was bought by Azurix.

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