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Discussion Starter · #1 ·
EchoStar may be preparing to replace Arthur Andersen as its auditing firm after the company was indicted for its alleged role in the Enron debacle.

Arthur Andersen, EchoStar's independent certified public accountant, was recently indicted on federal obstruction of justice charges arising from the government's investigation of Enron. EchoStar's audit committee has been carefully watching the situation, a Securities and Exchange Commission filing from the company said. The SEC has said it will continue accepting financial statements audited by Arthur Andersen.

EchoStar's access to capital markets and its ability to make timely SEC filings could be impaired if the SEC ceases accepting financial statements audited by Arthur Andersen, EchoStar said in its filing. "In such a case, EchoStar would promptly seek to engage new independent certified public accountants or take such other actions as may be necessary to enable EchoStar to maintain access to the capital markets and timely financial reporting," the company said.

From SkyReport (Used with permission)
 
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Discussion Starter · #2 ·
I just read an article where companys are dropping this accounting firm like a hot potatoe. :D
 
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Discussion Starter · #3 ·
I've heard the same thing... quite a few are jumping to Deloitte & Touche.
 
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