Andersen assures clients on Enron

ACCOUNTING firm Andersen has taken the unusual step of writing to all its UK clients to steady their nerves following the Enron disaster.

In a two-page plea, John Ormerod, Andersen's UK managing partner, said the firm should not be singled out for blame over the world's biggest ever corporate failure.

'Our current practices and policies are robust and should not cause you or your shareholders, any concern,' he said. There have been fears that Andersen could face an exodus of clients in the UK in the wake of the Enron disclosures.

Meanwhile, in the latest Enron revelations, it has been alleged that executives lured wealthy investors and institutions to invest in the partnerships that eventually led to the collapse by providing inside knowledge. At the same time, the firm allegedly hid that information from the public and shareholders, even fooling most Wall Street analysts.