Andersen boss says 'we are innocent'

Arthur Andersen's chief executive says his firm will fight charges that it obstructed justice in relation to the collapse of Enron.

Joseph F Berardino, says the US Department of Justice has indicted Andersen in connection with the destruction of documents about Enron.

He says he is appalled by this news and says Andersen will vigorously defend itself.

He says: "This action will cause uncertainty for the clients and people of our US member firm, and appears to be the result of over-reaching on the part of prosecutors.

"It does not recognize the steps taken by Arthur Andersen to investigate and address issues referred to in the US indictment nor the broader actions Arthur Andersen has taken in response to Enron."

He adds: "An indictment in the United States is an allegation, not a conviction."

Mr Berardino says the non-US member firms of the Andersen Worldwide network provide employment to 60,000 people in 83 countries.

He adds: "These member firms have a heritage of respect and leadership in their local markets. They are evaluating the implications of these developments and considering a number of options to address the concerns of their clients."