Andersen Worldwide SC, the international umbrella organisation of auditing firm Arthur Andersen LLP, has agreed to pay $40m to settle lawsuits from Enron investors and employees.

A LEGAL watchdog group said yesterday that it was suing Vice-President Dick Cheney and Halliburton Co, the oil services company he ran for five years, alleging fraudulent accounting practices at the company.

A watchdog group says it will file a shareholders lawsuit against US Vice President Dick Cheney and his former employer, Halliburton, claiming they engaged in accounting fraud.

Former Big Five accounting firm Arthur Andersen LLP was convicted of obstructing justice by destroying tonnes of documents related to its former client, Enron Corp.

The exodus of blue-chip clients from Arthur Andersen is continuing, sparking increased concern that the end might be near for the US auditing giant.