By Heather McLean, 3 April 2002 14:48
NEWS Bankrupt US telco, Global Crossing is unable to file its latest financial audit with the Securities and Exchange Commission because its accountant, Andersen, has been distracted by its involvement in the collapse of Enron . Global Crossing announced the delay of its financial report filing yesterday as Andersen continued to wallow in the investigation into its business practices while working with the defunct power company, Enron. The SEC has issued companies using Andersen with guidelines for making filings to minimise disruptions that may occur as a result of Andersen's indictment following Enron's collapse. In its notification to the SEC, Global Crossing stated: "Arthur Andersen, the Company's independent public accountants, have informed the Company that Andersen will not be able to deliver an audit report with respect to the Company's financial statements for the year ended 31 December, 2001 until the completion of an investigation by a special committee of the Company's board of directors into allegations regarding the Company's accounting and financial reporting practices."
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