The Texas State Board of Public Accountancy has issued a statement, which said: 'Andersen's failure to comply with professional standards was not the result of the actions of one 'rogue' partner or 'out-of-control' office, but resulted from Andersen's organisational structure and corporate climate that created a lack of independence, integrity and objectivity.'
The Board is seeking to impose a fine on the auditor of at least £700,000.
Andersen, currently on trial for obstruction of justice charges, accused the Board of rushing to judgement and is doing all that it can to shift responsibility for the Enron debacle onto its Houston office and former partner David Duncan in particular.
Texas After Andersen
BBC News Online reports that authorities in Texas have now recommended revoking Arthur Andersen's operating license due to the firm's actions in connection with its audit of failed energy giant Enron.
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